You are connected to thousands of financial institutions with the help of QuickBooks, which facilitates you downloading bank transactions automatically. As soon as you are connected to first account via QuickBooks it typically downloads all transactions up to last 90 days. You can also export transactions from your bank and upload them into your QuickBooks Company, if QuickBooks doesn’t connect you to your bank or you need more of your transactions. This feature is referred as WebConnect by the banks in the US. To know more call at QuickBooks Support Number.
Steps to Upload Bank Transactions in QuickBooks
Step 1: Download your transactions from bank’s website
Make sure that if you are downloading a lot of transactions, you need to download smaller date ranges. Because QuickBooks Online only supports files sizes up to 350 KB (kilobytes).
a. Firstly, sign in your bank’s website and then follow the online process of your bank to download your transactions to your computer. If you are adding historical transactions for an account which is connected, specify a date range which is earlier than 90 days. Else, you might end up uploading duplicate transaction.
b. Choose one of the following supported file types – QuickBooks Online (QBO),Comma-Separated Values (CSV), Microsoft Money (OFX) or Quicken (QFX).
c. Note down the name of the file and the location where you are downloading it.
Step 2: Upload the file to QuickBooks
a. Click on banking present on the left menu.
b. After choosing banking present at the top, click on File Upload. Choose Upload transactions manually present at the bottom of your computer’s screen if you haven’t connected any account yet.
c. Click on Browse and choose the file which you have saved earlier in Step 1 and then click on Next.
d. Now from the QuickBooks account drop-down, choose the account to which you want to upload the bank data and click on Next. In case you don’t have an account set up yet, click on Add New and then add an account. In case of a CSV file you will be prompted to select columns from the CSV file matching the QuickBooks Online banking fields. Select Next when it’s done.
e. Select Finish, you will return to the Banking page. Now, start reviewing and accepting your bank transactions.
Need of uploading a bank file
• When your bank’s connections are not supported by QuickBooks Online.
• In case you need additional historical transactions, which are available at your bank’s website. Depending on your bank, QuickBooks Online downloads all transactions that took place in the last 90 days of when you connect your account to QuickBooks for the first time.