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October 25, 2022
If you’re switching to QuickBooks Online from another accounting software, you might need some help importing transactions into QuickBooks Online. Fortunately, you can import transactions from almost any source into QuickBooks. Whether you need to import Excel data, CSV files, bank transactions, or even PayPal transactions, the process is easy and doesn’t take much time.
This article explains how to import transactions to QuickBooks Online in 2022.
Yes, you can. To get started with importing transactions into QuickBooks Online, you will need to choose File > New > Import. This is where you’ll have access to all of your import options. Your options for importing transactions into QuickBooks will depend on what particular financial software you’re currently using. That’s because each platform has its own unique format for storing data. For example, if you’re importing data from QuickBooks Desktop, then you’ll need to export the data from your company file and save it in a CSV file.
You can import almost any type of transaction into QuickBooks Online. You can import transactions from banks, credit card payments, and PayPal. As mentioned, You can even import data from other accounting software like QuickBooks Desktop. If you run a retail business or a restaurant, then you can also import sales data and transactions directly from your POS system. This makes it much easier to keep track of things and update your financial spreadsheets automatically from within the QuickBooks Online dashboard.
Most companies that decide to migrate their transactions into QuickBooks Online have them stored in a spreadsheet. Almost always, this spreadsheet was created in Microsoft Excel. The good news is that it's easy to import transactions into QuickBooks Online from Excel.
Follow these steps to import transactions from Excel into QuickBooks Online:
1. Go to File > New > Import > Excel.
2. Select the bank account you want to use for importing transactions.
3. Select the range of transactions you want to import into QuickBooks.
4. Click the “Import” button.
Once you've clicked the Import button, you'll see the progress of your import in the bottom right corner of your screen. And when the import is complete, you'll see a summary of the progress.
Many different applications, including QuickBooks Desktop, give you the option to export your data as a CSV file. This makes it easy to transfer the data into Excel or other programs including QuickBooks Online.
The first step is to export your data as a CSV. The method you’ll use to do that all depends on the application you’re exporting from, but generally speaking, you’ll click export and then choose the CSV file format. Once you have that file, you can import the data directly into QuickBooks Online.
To import transactions with a CSV file just follow these steps:
1. Go to File > New > Import > From Computer > Next.
2. Select the file you want to import.
3. Click “Import Now.”
As is the case with importing transactions from Excel, you will now see a progress bar showing the status of the data transfer. When everything has been migrated over, you’ll see a summary of the data import.
If you’re transferring transactions from an existing account into QuickBooks Online, you can easily import them into your company file.
Here’s how to import bank transactions into QuickBooks Online:
1. Go to Banking > Connected Accounts > New Connection > Next.
2. Select the type of bank account you want to import.
3. Select the financial institution where you have your account.
4. Select the bank account you want to import into QuickBooks.
5. Click “Connect Now.”
If you’re importing transactions from PayPal, you have a couple of options. You can connect your PayPal account directly to QuickBooks Online and import transactions from there. You can also use the QuickBooks Online Import feature to upload a CSV file with your transactions.
Here’s how to import PayPal transactions into QuickBooks Online directly:
1. Go to Banking > Connected Accounts > New Connection > Next.
2. Select the PayPal account you want to import.
3. Click the “Connect” button.
Whether you want to make it easier to keep an eye on your sales transactions, or set up automatic updates, either way, it makes sense to import your transactions into a powerful accounting application such as QuickBooks.
With QuickBooks Online, you can import many different types of transactions including Excel data, CSV files, bank transactions, and PayPal transactions. By following the steps outlined above, you’ll be able to import your transactions into QuickBooks Online in just a few minutes.
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