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how do I add historic bank info to quickbooks

I would like to add my banking data for the entire year but also have the automatic feeds moving forward for my bank accounts.  Is there any way to integrate these transactions either as distinct historic accounts or in another way?

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ProAdvisor

Re: how do I add historic bank info to quickbooks

Hi @NelsonGB:


We have the answer for you! Actually the steps:

  1. First go to accounting>chart of accounts and create a bank account (if you haven't already done so).
  2. Get the historical bank transactions from your financial institution, ie log into your bank's website.  Open the transactions window and look for the word "download".  Pick either .qbo or .ofx (in lieu of .csv as you will get more details from the first two file types).
  3. Select the date range you want to download, ie. 1/1/18-10/28/18.  Save this file to your computer's desktop so you can locate it quickly.
  4. Go to banking>update>file upload and browse to the file you downloaded from the bank.
  5. Click open. Navigate to the bank acct. you want it to be linked to or pick your bank acct. (that you created in step 1).  Import the downloaded file.  Note, it may take a bit of time depending on the volume of transactions imported.
  6. On the banking page, find that bank account.  Click on the pencil and disconnect the account from the bank feed (it will think it is connected because of the manual import).
  7. Now go to add account, go to the financial institution, make the connection (log in), link which bank account you are connecting to the bank. It will ask you how much time you want to bring in. The choices are generally 7, 30 or 90 days. You can select the range you need. If you uploaded the entire time frame, you will need to exclude the transactions you already entered. This is demonstrated in the video.
  8. To Exclude, go to the transactions that are duplicate,  select them, and click batch actions>exclude.
  9. Also look in the chart of accounts for that opening balance transaction that will come in via connection you made from the bank to the bank feed. It will also show as a reconciled transaction. It is perfectly fine to delete this as it is unnecessary to have that transaction. It will never reconcile with this transaction. This is also demonstrated in the video for you.

Note: opening balance equity should always be zero unless you are entering your beginning balances for a new company file, which is the purpose of this account.

 

 

We sure hope that helps you out.  This is a really good question that many users may have happen now that we are deep into the 4th quarter of 2018.  If you have any further questions, feel free to reach out to us.  If we helped you, we would love a cheers or thumbs up!  

 

Matthew and Lynda

 

@lynda

@ParkwayInc

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