A CSV file or comma-separated file is used for importing bank transactions in QuickBooks Online. A CSV file is nothing but a text file consisting of data in a tabular format. Each field is separated by a comma. You can import CSV files in QuickBooks Online easily with the help of QuickBooks import Excel and CSV toolkit. So, for this purpose, first, we will have to install the QB import Excel and CSV toolkit and then proceed further. Steps to learn how to import a CSV File into QuickBooks Online.
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Steps to Import the CSV file into QuickBooks Online
Step 1. First of all, open the toolkit download file window and click on save.
Step 2. Choose the location as your windows desktop and click onsave again
Step 3. In this step, double click on the .exe file so that the WinZip self-extractor window can get opened.
Step 4. Now click on browse and choose the location where you wish to install the toolkit and click on OK.
Step 5. After this step, click on unzip to extract the content and close the self-extractor window. And open the QuickBooks import excel and CSV folder from the location you saved it earlier.
Once you download the toolkit, there will be a PDF document in it for importing Excel and CSV files with all the instructions, best practices, and notes. Now let us refer to some frequently asked questions by the users to have more clarity around the topic and related things.
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Video Tutorial of Import a CSV File into QuickBooks Online
How can I manually Import Transactions into QuickBooks Online with the help of CSV file?
Yes, you need to first download the transfer file from your bank and from the banking centre, open the drop-down menu and click on File upload, now click on browse to choose the CSV file. After that, open QuickBooks and select the account you wish to upload the transactions into. Now check and verify the mapping and select the transactions for import and click on save.
What is the Process of Manual Account Reconciliation in QuickBooks Online?
You need to click on settings (gear icon) > Tools > and then reconcile. Now select the account for reconciliation by clicking on the drop-down menu against the account. Enter the ending balance and date based upon the bank statement information and match transactions to your bank statement manually.
What is the Process of Importing Credit Card Transactions in QuickBooks Online?
Click on Banking >Bank feeds > banking centre > click on the bank account you want to connect. Now click on download transactions to receive the list of transactions and click on synchronize and click on sync all for this bank, type your PIN or password, and click on OK.
How can I Reclassify Transactions in QuickBooks Online?
You can do so by clicking on the accountant tools icon in QuickBooks Online and then choose Reclassify transactions. Click on find transactions, choose the box of transactions you wish to change, and click reclassify, choose a new account to move the transaction, and click on apply.