I just started using QuickBooks Desktop for a Real Estate Flipping LLC. I want to use the Home Depot Pro Xtra feature that allows me to import my Home Deport receipts (in this case, Credit Card Charges) as an IIF file into QuickBooks from Home Depot. I'm confused by the resulting transactions in QuickBooks. The Transactions come into a Credit Card Account called Home Depot - QuickBooks Purchases. Each receipt seems to generate a transaction that starts with a 0 balance entry as a charge, entries for the purchased Items as Payments and then a balancing transaction as a Charge.
I am trying out the same. I want to download transactions from Home Depot which I can but the iif file has both a charge and payment so the account balance is always 0. This is good for tracking expenses on rehab projects but it forces you to track separately your account balance which is not good. It would be great to just be able to download transactions detail and let the balance be reflected so you know what you owe. If this can't be done QB needs to allow transactions in cvs or xls format to be imported like it used to.