import bank transactions in quickbooks for mac 2015

Import Bank Transactions In Quickbooks 2015 Download History Button
Import Bank Transactions In Quickbooks 2015 Mac Can Be

Before importing, make sure that the account you need to import into doesnt have the yellow strike icon.

After disconnecting the account from online services, you can import a QBO file.

Check bank label, Account Type, Account number to select correct Account in Quickbooks.

Assign Vendor Records and expenseincome accounts before adding transactions to the register.

When you choose a Vendor Record, for the Payee from the QBO file, QuickBooks will remember your choice for the next QBO import.

The rename rule creation dialog will show up after to use for the next time.

Before importing, make sure that the account you need to import into doesnt have a blue ball icon.

It shows Account ID, Account Type and it offers you to choose an existing Account.

The rename rule creation dialog will show up after to use it for the next time.

This process allows you to split out the transactions into multiple accounts or handle those nasty refunds You should review this account and make changes as necessary.

Over eight million businesses use PayPal to process their credit card transactions and the numbers keep growing.

Import Bank Transactions In Quickbooks 2015 Mac Can Be

Manually recording PayPal transactions in QuickBooks for Mac can be time-consuming and tricky, especially for businesses that want to keep track of customer data in their company files.

Typically you must manually enter all customer data into the company file, and then generate invoices and record payments individually.

However, PayPal offers a utility to import these transactions directly into QuickBooks using Intuit Interchange Format (.iif).

On the PayPal website, you download the data to an.iif file for a specific date range.

QuickBooks- records a deposit for each transaction using a single income and expense account.

If it cant find a match, it adds the customer name to the Other Names List.

You wont be able to download shopping cart detail, so dont click the checkbox next to this option.

Import Bank Transactions In Quickbooks 2015 Download History Button

Click the Download History button at the bottom right of the page.

If you see new bank accounts at the top of your chart of accounts, you didnt enter the account names correctly.

To fix this, edit the PayPal-generated accounts and change the type and name to match the correct account.

Youll need to change the dates each time you use the memorized report.

You can check your transfers against the transaction history report in PayPal.

Instead, set up a separate QuickBooks bank account for the PayPal transactions called PayPal Account.

This way, the.iif file imports all of the transactions to the PayPal Account and acts as an undeposited funds account.

Then, when you actually make the transfer to your actual bank account from PayPal, you can record the transfer in QuickBooks from the PayPal Account to your Bank Account.

This makes reconciling both your PayPal and bank accounts a snap.

Otherwise, the.iif file causes QuickBooks to create a new bank account and post all transactions to it.

If this happens, you can easily edit the newly created PayPal account, change its type and name to match the correct account, and merge the accounts together.

One downside to using the utility is that all sales and expense transactions post to one account.

This means that if youre paying for goods or services through PayPal, all of these transactions will be posted to the PayPal Fees expense account.

A workaround for this is to open the.iif file in Excel as a tab-delimited file, change the account names in Excel (or add a class), and save the file.

Youll see a window warning you that the file may not be compatible with text.

Import Bank Transactions In Quickbooks For Mac 2015