Hello Akhtar,
I'm glad that the previous message was helpful for you. Let's ensure that we get all the necessary data imported into your QuickBooks Online company file.
Importing the vendor and customer payments will be a bit different than the process to import invoices and bills. After importing your invoices and bills, you'll need to import an Excel/CSV file containing bank transactions for the previous business activities. Once all the bank transactions are imported, you can then match them to the appropriate bills and invoices. The system then records the bill payments and invoice payments upon matching.
The steps to retrieve the business's bank transactions are:
- Sign in to your bank or credit card’s website.
- Look for and follow your bank’s steps to download transactions. Every financial institution has different steps.
- Check the date range for the download. You'll want to include the dates for all the invoices and bills that were imported to QuickBooks Online from QuickBooks Desktop.
- Download your transactions. Save the file somewhere you can easily find it, like your computer's desktop.
Once you have your bank transactions, you'll need to import them into QuickBooks Online's bank feed. Here's how:
- In QuickBooks Online, go to the Banking/Transactions menu. Then select the Banking tab.
- Select the Link account dropdown menu and then Upload from file.
- Select Browse and then select the file you downloaded from your bank. Then select Next.
- In the QuickBooks account dropdown, select the account you want to upload the transactions into. Then select Next.
- Follow the onscreen steps to match the columns on the file with the correct fields in QuickBooks. Then select Next.
- When you’re ready, select Let's go.
You'll then have bank transactions in your bank feed. Once this is complete, you should notice some of the transactions showing "matching records" as the bill and invoices were imported before. You'll then need to match the transactions to those forms by:
- Find a downloaded transaction with the Match option in the Action column.
- Note the Date, Description, Payee, and amount spent or received.
- Select the downloaded transaction to expand the view.
- Review the Matching records found. This is the possible matching transactions (invoices or bills) you already entered in QuickBooks.
- Select the link next to each match to get more details.
- Make sure this is the correct match. In particular, review the Deposit to, Payment method, and Bank account fields on forms for the existing transaction in QuickBooks.
- If this is the correct match, close the open transaction.
- Select Match.
Once you click Match, the system will generate an invoice or bill payment based on the transaction. I've linked the following Community articles for further reference if needed:
QuickBooks Online doesn't have the ability to import pay cheques from QuickBooks Desktop. Normally when switching from Desktop to Online, year-to-date amounts for employees are entered within the payroll module. I know you're not using payroll in QuickBooks Online so for these transactions, you may need to consult an accountant to determine how to record the past pay cheques via journal entries. This is because you may need to set up different payroll expense and liability accounts in QuickBooks Online to properly record the pay cheques. If you're not already connected to your accountant in QuickBooks Online, you can invite them to view your books by going to the My Accountant tab and entering their email address to send an invite. If you don't have an accountant, you can click Find a pro to help to search for a QuickBooks Certified Pro Advisor who can assist you.
I hope this helps, please let me know if I can clarify anything or assist you further.
