QuickBooks is the promising solution to all your accounting worries. Usage of QuickBooks accounting software has increased widely within a very short period of time and why not? It is all in one software that has immense features that can grab the attention of business holders.
If you are new to QuickBooks services or don’t use it at all and want to know about it you are in the right place. Be here till the bottom to know about QuickBooks.
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QuickBooks is extraordinary accounting software that facilitates all your business needs.
Wondering what QuickBooks software can do for you? Here is a list of tasks it can perform: ● It helps you regulate cash flow. Just you need to enter your transactions in QuickBooks instead of using an online bank balance.
- It can create and send invoices to the customers with super ease.
- It can also handle payroll and manage employee time.
- It can also give you customised reports of accounts.
- It keeps your accounts always reconciled.
- It helps you in tracking profit and loss that is very important to make the right decisions in business.
- It helps you in tracking profit and loss that is very important to make the right decisions in business.
Reasons to use QuickBooks accounting software over any other software:
QuickBooks helps you streamline your business independent of what sort of business you run. This software automates all your accounting work and is highly cost-effective. It can help you with all your financial transactions. Using this software you can get exact results of profit and loss of your company. You can keep an accurate track of all transactions using QuickBooks. QuickBooks services are user friendly. QuickBooks is a one-stop solution to all the accounting problems that makes it adequate for businesses.
Can you import your bank statements into QuickBooks Desktop?
Alright, it is feasible to import your bank statements into QuickBooks Desktop. But for importing bank statements make sure that you download them in QBO, CSV, QFX file format. It is apparent to import CSV in QuickBooks Desktop. For this, you need to download the QuickBooks import excel & CSV toolkit. To import bank statements to the QuickBooks desktop you first need to download the bank transactions.
Read more about: “Download QuickBooks Tool Hub”
How can you download bank transactions?
Follow the steps mentioned below to download your bank transactions:
- Click on the bank feed from the banking menu.
- Select Bank Feeds Center.
- Choose the bank account to which you want to connect.
- From the send items to your bank section select the items that you want to send to your bank.
- Now Right-click on the download transaction.
- Right-click on synchronize and choose from sync this account or sync all for this bank.
- To authenticate the connection enter your pin and password and then click ok. Note: You must delete any previously added transaction to avoid duplicate.
How to import bank statements into QuickBooks Desktop?
Consider the steps listed below to import bank statements into QuickBooks Desktop:
- Clear all the bank transactions that you downloaded in CSV or Excel format.
- Copy your transactions from excel and paste them into the QuickBooks payroll.
- Using add multiple list entries tools add multiple vendors and customers.
- In just a single click all your transactions will be rearranged in QuickBooks.
- Reclassify all your transactions using the sort function to assign the transaction to corresponding accounts in QuickBooks.
It is also possible to import your bank transaction into QuickBooks Desktop by web connect method by following below mentioned steps:
- Open the web browser and open your bank’s website.
- Enter all the essential authentication details.
- Download all your transactions in QBO file format.
- Go to QuickBooks and then to the banking.
- Then click on the Bank Feeds and then click on import web connect files.
- Determine the QBO file that you downloaded and click on open.
- Then select one from using an existing QuickBooks account or create a new QuickBooks account.
- Right-click on continue and then select on ok.
- Review your transaction by visiting the Banking menu.
Conclusion:
QuickBooks is incredibly valuable accounting software for small businesses. It can help you stay up to date with bank transactions by providing an option to import them. You must follow the steps given below to download and import bank statements into the QuickBooks desktop.