I downloaded the transactions from my MBNA credit card into a CSV file (MBNA does not have an option to download as a Quickbooks file). Now what? I use Quickbooks Desktop 2019, which allows me the options to import a file from an Excel file, IIF and Web Connect files etc... but there is no option for CSV files.
1) Do I need to convert the CSV file into an Excel file? And what are the steps and customization required in order to ensure the transactions are entered into the correct credit card account?
2) And what is an IIF file, do I need to convert the CSV file into an IIF?
I just spent hours reading articles on this topic but somehow none could provide me an simple and complete answer to this, I assume, a very common question. Thank you for your help.
It's great to hear that you've been doing some research into what you need to do to load your banking information into QuickBooks Desktop. Getting the CSV file is a good place to start and I can help you from here.
Uploading bank feed transactions into QuickBooks Desktop is handled through a bank feed connection or using the QuickBooks Web Connector to import the files. For both of these methods, you'd need to have a .QBO file type, which is available for banks that do have the option to connect to QuickBooks Desktop. Learn more here: Download Bank Feed transactions in QuickBooks Desktop
Since MBNA Credit Card doesn't give you this file type and doesn't link with the program, it'll mean using alternative methods to get this information into QuickBooks.
I'll start by clarifying some of the details in your question. An IIF file is specific to QuickBooks Desktop, which you can read more about here: Export, import, and edit IIF files.
CSV files are an Excel file type and in QuickBooks Desktop, you can use them to import list information such as customer and vendor lists. They cannot be used for importing transactions like an IIF or QBO file can. This article goes over the import and export options available in the program: Import and export data in QuickBooks Desktop
Feel free to explore third-party file converters to see if you can find something to transform your CSV file into an IIF or QBO file type.
The final option in these cases is that you manually enter your transactions by using the features for entering bills, invoices, sales receipts, and all other transaction types. You can even consider the Enter Credit Card Charges option. This article has some detail about that: Set up, use, and pay credit card accounts
I know being able to easily upload a document of information can help keep things simple and speed up your bookkeeping process, so I recommend leaving feedback to let us know your thoughts about this process as I've described above. We're always looking for ways to enhance the program and love hearing from users like you. In QuickBooks Desktop, simply click Help in the top menu, then Send Feedback Online.
I'll be here if you need clarification about any of that.
You can also utilize the trial period of these 3rd party importer tools
The template should be like this
|Credit Card Account||Payee||Transaction Date||RefNumber||Memo||Address Line1||Address Line2||Address Line3||Address Line4||Address City||Address State||Address PostalCode||Address Country||Vendor Acct No||Expenses Account||Expenses Amount||Expenses Memo||Expenses Class||Expenses Customer||Expenses Billable||Items Item||Items Qty||Items Description||Items Cost||Items Class||Items Customer||Items Billable||Currency||Exchange Rate|
|QuickBooks Credit Card||Barnes and Noble||01/09/2020||1||1 Main Street||Anytown||NY||12345||USA||Misc Supplies||100|
|QuickBooks Credit Card||McDonald's||03/09/2020||2||1 Jones Street||Anytown||NY||12345||USA||Meals||25||ABC Company||Y|
|QuickBooks Credit Card||Joe's Taxi||05/09/2020||3||1 Felt Ave||Anytown||NY||12345||USA||Transportation||200|
|Visa||Gulf Gas||01/09/2020||4||1 North Ave||Anytown||NY||12345||USA||Fuel||25|
Hi mark214. It's important you're able to upload your CSV Excel file without any issues. I want to make sure you get the help you need with this. I'd recommend contacting our support team for further assistance. To contact our support team, call 1-833-317-2226.To find out more about the hours and other contact methods, please follow this link here: Intuit QuickBooks Desktop software support policies. Feel free to ask other questions, I'm here to help.