I'm trying to figure out how to import sales transactions into QBO from a .CSV file with a couple of twists.
We sell fuel. The Fuel Farm Software handles the card transactions and merchant processing. The Fuel Farm Software also issues "private" prepaid cards. We sell and "refill" prepaid cards to our customers and, in return, give these customers a discount on fuel.
To record Credit Card Sales Transactions: I have a "Fuel Farm Customer" and I record the sales receipt, the merchant deposit, and QBO decreases the fuel inventory. Easy Peasy.
For Gift Card transactions I'm kind of stumped.
I've set up the following:
An Other Current Liabilities Account called "Prepaid Fuel Outstanding". A Non-Inventory Item called "Prepaid Fuel Credit" setting the Income Account to "Prepaid Fuel Outstanding".
For your consideration:
IF I invoice a customer Prepaid Fuel Credit and receive a payment THEN the "Prepaid Fuel Outstanding" liabilities account Increases
IF I issue a customer a credit memo for Prepaid Fuel Credit (opening balance) THEN the "Prepaid Fuel Outstanding" liabilities account Decreases
Where have I gone wrong?
Next, I can download a record of sales transactions file to a .CSV file.
Since QBO doesn't import Sales Transactions (unless you're located in AK,DE,MT,NH, or OR.), I need to find a third party app that will import these transactions.
If the transactions are imported as "Invoices" will I need to manually apply the prepaid credit of prepaid customers?
If the transactions are imported as "Sales Receipts" how do I differentiate between the Deposit Bank Account and Other Current Liabilities Account?
Thanks for getting back here in the thread, @CliffCoy.
First off, I appreciate you for taking the time on performing the steps provided by my colleague. I recommend reaching out to our QuickBooks Online Support team. This way, they can provide further assistance with your concern and help you determine the root cause of the issue. To contact, here's how:
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I'd also want to share that here in QBO we have this feature called SmartLook Session. This feature allows you to share your screen with our supporting agents to further assist you in solving your QuickBooks concerns. To use this feature, here's how:
In QuickBooks Online, select Gear icon and then SmartLook.
Copy the number that appears.
Share this code with the agent during the call.
I've also got you these articles about importing and exporting data in QuickBooks Online:
@CliffCoy, It's my to have you here in the Community. If there's anything else that you'd like me to assist you with, let me know by leaving a comment down below. Rest assured, I'll be here as soon as possible to help you resolve your concern. Keep safe and see you around!