Downloading them is the easy part. QuickBooks Online lets you piece of work with downloaded transactions in numerous means.

QuickBooks Online was built to import transactions from your online financial institutions. Yous can enter them manually only downloading them saves an enormous amount of time and minimizes errors. It also makes reconciliation much easier, since you can see which transactions accept cleared without calling the bank or waiting for a printed statement.

Once they're in QuickBooks Online, your transactions are stored in a list, waiting for you lot to further define and categorize each one. Let's wait at how yous tin can work with them to make sure your records are equally thorough equally possible.

Getting Connected

As long as yous take online access to your banking concern and credit carte du jour accounts, you can set up upward QuickBooks Online to import cleared transactions. Click the Transactions tab in the toolbar, then click Banking. On the next screen, click Connect account. You'll see links to pop financial institutions on the next folio. If yours isn't listed, enter its name in the search box at the superlative of the screen. Follow the onscreen instructions to make your initial connection and start downloading transactions.

When you've completed the connexion, you can click Link account in the upper correct to add more.

Dealing With Transactions

After you lot set up a connection to a depository financial institution or credit bill of fare account, its business relationship information will announced in a box on the Cyberbanking page.

In one case you lot've finished adding accounts, you lot'll still be on the Banking folio. Each of your connected accounts volition appear in a box that includes the residual and the number of transactions that demand to be reviewed. There will probably be quite a few, dozens or hundreds, the start time you download, since most financial institutions send you lot 90 days' worth the first time. Every time your accounts are updated after that, y'all'll only get new ones that have cleared since your last connexion.

Tip: QuickBooks Online generally updates one time every day. If yous desire to see your new cleared transactions at any fourth dimension, click Update in the upper right corner.

Click on any of the account boxes, and its list of downloaded transactions volition appear below. Brand certain that For review is highlighted. Yous'll detect that each row has one of 2 icons at the far right. Review means that QuickBooks Online has non assigned a category to the transaction. Confirm means it has, and it wants y'all to either corroborate it or change it. Cheque these carefully. Sometimes QuickBooks Online gets it right, but not always.

Click on a transaction in the register to open up its action box. Here's a fractional view:

QuickBooks Online allows you to add a great deal of information about each individual transaction in the annals.

Categorize is checked by default, since this is the most common activity you'll take in the listing. Click Find friction match if, for example, you lot received a payment on an outstanding invoice, or Record as transfer. We can assistance you lot piece of work with the latter two options.

Select a Vendor/Customer and a Category (if QuickBooks Online hasn't assigned one or it's not the best one for that transaction). Click in the Billable box if you want to beak this transaction to a Client/project. You can also Split transaction if you demand to split it between multiple categories and/or billing statuses.

There are several other options below the section pictured above that allow you to:

  • Add
  • Attach a file.
  • Create a Dominion for how similar transactions should be recorded.
  • Exclude the transaction if you have, for example, a duplicate one or a personal expense.

Before you take either of the latter two actions, talk to united states of america. We don't want you lot to do anything that might adversely impact your bookkeeping.

When you've finished, click Confirm. The transaction will motility from the For review list to the Categorized i. It will now appear in the annals for that account.

Once yous've confirmed a transaction, it moves into the Categorized list.

Equally you lot might imagine, it's a good thought to continue up with your downloaded transactions so you lot accept fourth dimension to give each the attending it needs. We recommend you review them daily. Your transactions, of course, flow into your reports and taxes, and so you want to be sure you're categorizing them correctly. Let us know if yous'd like help with this.