How to Import Deposits into QuickBooks Online

A deposit is referred to as the fund held at a bank. It is a type of transaction used for transferring funds to another account. If your bank allows downloading deposits to a CSV format, you can easily download it and easily import it into QuickBooks Online. The QuickBooks is compatible with CSV files which are formatted in terms of the column. In this article, you will learn how to import Deposits into QuickBooks Online.

Why Require Importing Deposits?

Accounting book management can be very time-consuming; especially if it involves manual data entry. So to ease the process, boost accuracy, and time-saving, the import feature is used. The majority of accountants and organizations use the technique of importing deposits to ensure speed and reduce error.

Things you need to do Before Importing Deposits into QuickBooks Online

• Avoid writing special characters in the CSV file; QuickBooks does not support symbols and characters
• Do not use the brackets to display negative amounts
• Ensure you write the amount without the currency symbol
• Check the date format; it should be date/month/year
• Do not use commas for separating figures in the amount
• If you require entering a figure with O, then you leave that field vacant
• Don’t write words such as value or amount in the credit or debit columns

What CSV File Layout is compatible with QuickBooks Online?

QuickBooks Online supports a CSV/EXCEL file with up to 4 columns. However, more than four columns may pop up an error message. Make sure you properly format the file or map the fields of the QuickBooks to prevent error messages.

How to Import Deposits into QuickBooks Online from Excel/CSV?

Here are steps to import deposits into QuickBooks Online from a comma-separated value (CSV) File.

• Open your QuickBooks online
• Locate the Banking section from the left corner of the screen
• Click on the Banking button
• Hit the drop-down list named Update and then select File Upload
• Verify if none of the connected accounts appears, then click on Upload deposits/transactions manually
• Choose Browse and then click on the CSV file
• Select the Next button and then choose the account on which you need to upload the transactions from the drop-down option, which says account
• Hit Next and then place a mark on the check box named Transaction
• Give a click on Next
• Hit Yes to begin the import process
• Wait for some time till the process complete
• After this hit, let’s go

Review the Imported Transaction

You can easily view the imported transactions via the preview window. Also, make the needed modifications. The step mentioned above provided you the solution of how to import deposits into QuickBooks Online from Excel/CSV. To save valuable time and accuracy, you can use the importer tool to import deposits in bulk.

Import Deposits into QuickBooks Online using Dancing Numbers Online

Main steps that you have to do before proceeding with the automatic import process. This process helps you to focus on other work as it does transfer data for you without any problems or errors. If there is any issue then it let you know after importing other data. Fix the issue and import it again. With this, you can import bulk as well as single lists or transactions. Here are the steps that you have to follow:

• Upload: You have to click on upload and then click on the Browse button to search for the deposit file that you want to import into QuickBooks Online using Dancing Numbers Online software. After successfully uploading the file proceed further to the next step.
• Map: You have to map the file data according to the file formatting of QuickBooks. This helps the software import the data perfectly. You can also save the map setting for further imports. Now, proceed further.
• Import: This is the main step in which you have to review the data and then import it. After reviewing all the data you want to import, you have to click on the Import button to start the automatic process. When the process is done then it notifies you.

When the import process is completed then on the top left side of the screen you can see a message “You have successfully imported…….“. It also shows you the data that is imported into your account. If there is any issue then the issue is written with the transaction in red color. Do correct it and then import that data.

How to Import Deposits into QuickBooks Online

Field Name	Format	Description
Deposit No	21 Characters	Reference number for the transaction that is also used internally by the software.
Deposit To Account	Characters	Provides the account to which the amount comes in.
Date	Date	Provide the date according to the transaction when it takes place.
Memo	4000 Characters	The Note about the Bill Transaction is not displayed on the bill.
Account	Characters	Reference to the Account Name associated with the Deposit.
Received From	Characters	Customer or Vendor or Employee
Line Description	4000 Characters	Mention the description related to the item/product/service in the field Line description.
Line Payment Method	Characters	The method by which deposits were received.
Line Ref No	Characters	The Reference Number must be mentioned here and is unique. It is used all the time whenever you want to search for a transaction or you want to use it.
Line Amount	Decimal	You have to enter the amount of the Tax that is for the expense line item. When you exclude the Global Tax Calculation then it can be applied.
Line Class	Characters	Provide the class name for the item or product/service.
Cash Back Goes To	Characters	Mention the cashback account that goes to the customer for deposits.
Cash Back Memo	4000 Characters	Describe the cash-back memo.
Cash Back Amount	Decimal	Provide the amount of cashback that is applied to the deposits that you are importing.
Currency Code	Characters	Write the reference for the currency where the amounts are expressed on the associated transactions.
Exchange Rate	Decimal	The home currency unit number is equal to one unit of the currency that is specified by the field of currency code.
Linked Transaction type	Characters	You have to link the transaction type which can be invoices, sales receipts, journal entries, payments, and transfers.
Linked Transaction Number	Characters	Mention the reference number of the transaction (Ex: If the transaction type is Invoice, this field must have the invoice number).

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