I have an account with EFS (Electronic Funds Source) Wex Company, and this financial institution is not on QB. How would I import my transactions?

Samar Hadhoud · ‎October 04, 2023

As a trucking company we use EFS cards for fuel and expenses. However, I couldn't find it on QB , and all major expenses are being paid from this card. What should I do in this case?

CharleneMaeF · ‎October 04, 2023

I'm here to help you manually import your EFS transactions, Samar.

We can add the data to QuickBooks Self-Employed using a CSV file. Beforehand, make sure to download the transactions.

Here's how to import the spreadsheet:

Go to the Profile ⚙ icon and select Imports.
Select Import transactions.
Follow the onscreen steps to upload the CSV file.
Click Import.

For more details, please see this article: Manually Import Transactions.

Please note that the program will automatically create and add them to the default Cash account.

You can also request support from your financial institution to allow EFS to integrate with the program.

Additionally, I've added a that'll help you categorize your transactions:

Please keep us posted if you need additional assistance managing or importing your transactions. I'll be looking forward to hearing back from you.

View solution in original post

FateCandylaneT · ‎October 06, 2023

It's great having you back here on this forum, Samar. Let me share additional insights to help you manage imported bank transactions in your account.

In QuickBooks Self-Employed, manually imported or entered transactions to your account, the program will automatically create and add them to the default Cash account. Since we can only modify the category assigned for that entry, we may consider entering the name of the bank account used in the Notes section for manual tracking.

Also, since Electronic Funds Source (EFS) isn't available on the bank's list, we can manually request support from your financial institution to allow EFS to integrate with QuickBooks. Here's how:

Go to the Gear icon and select Connect Bank.
From the Search panel, enter your bank and click Still can't find your bank? option from the bottom.
Enter your bank's web address (URL) in the field provided and select Request.

Moreover, I've included this guide to help review and track the entries you've downloaded from your bank: Categorize transactions in QuickBooks Self-Employed.

We'll keep this thread available so you can always reply in the comments below for any additional queries when handling transactions in your file. We'll be around to provide further help. Keep safe!

View solution in original post

CharleneMaeF · ‎October 04, 2023

I'm here to help you manually import your EFS transactions, Samar.

We can add the data to QuickBooks Self-Employed using a CSV file. Beforehand, make sure to download the transactions.

Here's how to import the spreadsheet:

Go to the Profile ⚙ icon and select Imports.
Select Import transactions.
Follow the onscreen steps to upload the CSV file.
Click Import.

For more details, please see this article: Manually Import Transactions.

Please note that the program will automatically create and add them to the default Cash account.

You can also request support from your financial institution to allow EFS to integrate with the program.

Additionally, I've added a that'll help you categorize your transactions:

Please keep us posted if you need additional assistance managing or importing your transactions. I'll be looking forward to hearing back from you.

Samar Hadhoud · ‎October 06, 2023

Thank you for your reply. However, when I import the transactions manually, they will be listed under (Cash).

Is there any problem with that?

FateCandylaneT · ‎October 06, 2023

It's great having you back here on this forum, Samar. Let me share additional insights to help you manage imported bank transactions in your account.

In QuickBooks Self-Employed, manually imported or entered transactions to your account, the program will automatically create and add them to the default Cash account. Since we can only modify the category assigned for that entry, we may consider entering the name of the bank account used in the Notes section for manual tracking.

Also, since Electronic Funds Source (EFS) isn't available on the bank's list, we can manually request support from your financial institution to allow EFS to integrate with QuickBooks. Here's how:

Go to the Gear icon and select Connect Bank.
From the Search panel, enter your bank and click Still can't find your bank? option from the bottom.
Enter your bank's web address (URL) in the field provided and select Request.

Moreover, I've included this guide to help review and track the entries you've downloaded from your bank: Categorize transactions in QuickBooks Self-Employed.

We'll keep this thread available so you can always reply in the comments below for any additional queries when handling transactions in your file. We'll be around to provide further help. Keep safe!

Samar Hadhoud · ‎October 06, 2023

Thank you so much form making that clear and easy to understand.

AlcaeusF · ‎October 06, 2023

Hi Samar Hadhoud,

I'm glad to know my colleague was able to help you with your concern about importing transactions. Please know that we're always available in this public space anytime you need assistance with QuickBooks Self-Employed.

You can click the Reply button below and we'll be sure to help out. Take care.

pltinc · ‎December 08, 2023

Can somebody give me any details on how to categorize these types of expenses so they would reflect on the profit and loss report?

jeanbiverly_ · ‎December 08, 2023

I've got some insights that can help you categorize your expenses, @pltinc.

You can use expense categories to organize your transactions.

If you're self-employed, you'll need to report your income and expenses using a Schedule C form, also known as Form 1040 as a reference when categorizing the transactions. QuickBooks Self-Employed can help match each transaction to a line on your Schedule C.

For information on Schedule C categories and how they appear on your financial reports, you can refer to this article: Schedule C and expense categories in QuickBooks Self-Employed.

You can also check the IRS website to stay up-to-date with the latest Schedule C information.

Here's how to categorize a transaction:

Go to the Transactions menu.
Look for a transaction on the list.
Choose Business if the transaction was for business, or select Personal for personal. If the transaction was both, pick Split.
Review the category in the Category column.
If you need to modify the category, click the category link. Choose a general type, then a more detailed category.
Once you're finished, hit Save.

Just in case you want to create a new transaction from a receipt image in QBSE, you can check out this article for more guidance: Record or attach expense receipts in QuickBooks Self-Employed.

I'm always here to back you up if you need further assistance in categorizing your expenses. Feel free to reply.

Topics

Training

Community

Resources

I have an account with EFS (Electronic Funds Source) Wex Company, and this financial institution is not on QB. How would I import my transactions?