welcome to the fit small business
quickbooks online training course in
this lesson we're going to cover how to
import credit card transactions into
quickbooks online so follow along with
me login to your quickbooks online
account now or click the link below this
video for a free 30-day trial of
quickbooks online you can also click
this link to access our full quickbooks
online course and other helpful
resources let's get started one of the
many benefits of quickbooks online is
that you can save a lot of time by
automatically downloading your credit
card transactions into quickbooks
instead of manually inputting each
transaction while most big banks like
Bank of America allow you to quickly and
easily connect to QuickBooks some of the
smaller banks and credit unions do not
have that capability if you are
interested in opening a credit card we
recommend you check out Bank of America
click this link for more information if
you don't have a business credit card
and you are using a personal credit card
then you should set up a separate
business credit card as soon as possible
and get it connected to QuickBooks it is
always best practice from an accounting
and tax standpoint to keep business
activities completely separate from
personal having a separate business
credit card can also help you build
business credit click this link for more
information for the purposes of this
video we will use a fictitious company
called paul's plumbing as you view this
video think about how the information
might differ for your business in order
to connect your credit card account to
QuickBooks you will need your online
user ID and password to log into your
account once you have logged into
QuickBooks Online from the home page
click on the transactions tab and then
banking on the Left menu bar in the
upper right hand corner click on the Add
Account button and then you can either
type your credit card name in the search
box here or select from the list of
bank's below so paul banks with bank of
America so we will select that if you
are unable to locate your credit card
company or you need to download more
than 90 days of credit card transactions
then you need to upload credit card
transactions using CSV format which is
covered later in this lesson let's go
ahead and get logged into the bank
account here
depending on your internet connection
and the number of accounts that you have
it may take a few minutes for QuickBooks
to connect to your bank once we log in
once QuickBooks has made the connection
you will see a screen similar to this
one what we want to do is go ahead and
place a checkmark in the first column
for each account that you would like to
connect to QuickBooks so we will go
ahead and put a checkmark next to the
one account that we have here which is
our credit card account underneath the
QuickBooks account column we want to go
ahead and connect our bank account to a
QuickBooks account if you have not set
up the account in quickbooks yet go
ahead and select add new and we will go
ahead and setup the account here
the first field that we need to complete
is account type typically in this field
you're going to either select bank or
credit card account so we will go ahead
and select credit card
the next field detail type automatically
populates based on the information that
we selected and the account type filled
in the account name field you want to go
ahead and put the name of the bank the
type of the account credit card and also
the last four digits of the account
number if you've got more than one
business credit card that you plan to
connect to QuickBooks including the name
of the card in the last four digits will
allow you to easily tell one credit card
account from another when you reconcile
these accounts we'll go ahead and put
the same information in the description
field double check to make sure that you
have completed all of the fields before
you click Save and close and now you can
see we have our credit card here that's
linked now to our bank account before
you click the blue connect button we
need to double check to make sure that
you did not select any accounts that you
do not want to keep track of in
QuickBooks for example personal credit
card accounts once you click connect all
transactions will be downloaded into
QuickBooks
unfortunately there is no automatic undo
button later on if you find out that you
accidentally selected an account that
you do not want connected to QuickBooks
then you will need to manually delete
all of those
transactions before you can delete the
credit card from QuickBooks go ahead and
click the connect button to start the
process of downloading the credit card
transactions into QuickBooks depending
on a number of accounts that you're
selected in the date range this could
take a while to complete however once
the transactions have been successfully
downloaded into QuickBooks you will
receive a message that lets us know the
download was successful and here is that
message here fantastic so now we are
ready to actually review the
transactions in QuickBooks so we'll go
ahead and click the blue
let's go button at the bottom takes us
back to the banking center and on the
for review tab all of the transactions
that were imported into QuickBooks will
be listed here to learn how to manage
banking transactions after they are
downloaded click the links below this
video to watch our video tutorial on how
do I manage downloaded banking
transactions if you have other credit
card accounts that you want to track in
QuickBooks then you can just click the
blue add account button and go back to
the beginning of this video that webs up
how to automatically download your
credit card transactions into QuickBooks
importing credit card transactions using
a CSV file
if you can't directly connect your
credit card account to QuickBooks or you
need to download more than 90 days of
credit card transactions it is important
that you know how to import your credit
card transactions using an Excel CSV
file or QBO file to obtain this type of
file log in to your credit card account
and go to the section where you can
download transactions and credit card
statements most likely you will have the
option to download your transactions in
multiple formats if you don't see either
of these options CSV or qbo then contact
your credit card company let them know
that you would like to download your
credit card transactions into QuickBooks
and you would like to know how to do
that from their website to begin from
the left icon bar select transactions
and then banking on the right hand side
click the drop down button to the right
of the Update button and
file upload on this screen you want to
browse to the CSV file that you have
saved on your computer and go ahead and
select that file and click open double
check to make sure that the correct file
is in this search box right here and
then click Next on this screen we want
to go ahead and link our CSV file to the
correct QuickBooks account where the
credit card transactions will import so
we want to import this into the Bank of
America credit card account if you do
not have the account setup in QuickBooks
you can do so by clicking the add new
button at the top and creating the
account be sure to watch our video
tutorial on how to set up your chart of
accounts click here to watch that video
now let's click Next on this screen we
want to go ahead and map each of the
quickbooks online fields to our csv data
in the spreadsheet and so what we'll do
is we'll go through here and we'll
indicate which column QuickBooks can
pull this data from so the date field
we'll go ahead and select column one and
to the right we're able to also select
the format that we want the date to be
in the description field will be column
two in our spreadsheet and then last but
not least the amount field we'll go
ahead and select column four when
importing amounts we need to let
QuickBooks know the format of our CSV
file so your file would either be one
column that will have both positive and
negative numbers in that same column or
it will be two columns where positive
numbers will be in one column and
negative numbers will be in a separate
column typically the positive numbers
are the withdrawals from your account
and the negative numbers are credits or
deposits to your account so what go
ahead and map our debit and credit
columns
the other thing that you want to do is
if the first row in your spreadsheet is
a header row you want to make sure that
you put a check mark here to indicate
that once you have made your selections
we can go ahead and click Next on this
screen we are able to see how the data
from the spreadsheet will import into
QuickBooks so you want to verify that
the date column has date information in
it the description column has
description and the amount column has
amounts in it so once you are satisfied
that this looks good we can click Next
on the next screen QuickBooks will
verify the number of transactions that
it will import so it'll be our final
opportunity before the data input so we
are fine with the 22 transactions so
let's click yes once the data has
successfully imported we will receive
this message here and then we can
actually go ahead and click the blue
button in the lower right hand corner
that says let's go and we can review
those transactions here in the banking
center they will appear here on the for
review tab to learn how to manage credit
card transactions be sure to watch our
video tutorial by clicking this link
that wraps up the section on how to
import credit card transactions using a
CSV file to access this course or any of
the others in the series just click this
link for a free 30-day trial of
QuickBooks Online click the links below
this video if you have feedback about
this course or if you have any questions
please leave a comment below also don't
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