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Intuit

Export to Quicken for Windows or Mac (QIF)

Overview

This article provides detailed instructions on how to export to Quicken and what to do each time you run payroll.

Expected Outcome

You can export payroll data to Quicken.

Assumptions

You have completed Intuit Online Payroll setup and are setting up export to Quicken.

Details

Note: Do not export paychecks and tax payments at the same time. For Quicken 2005 and later, different import option are needed to successfully import tax payments and paychecks.

  1. Set up your Quicken accounts for payroll data

    If you do not already have payroll accounts and categories set up in Quicken, create them now. Once the accounts and categories are set up, write down their names or print the list and highlight the ones you will use for the data from Online Payroll.

    • To check the list of accounts in Quicken, click Tools > Account List. Find the name of the bank account you use to write payroll checks and the liability accounts you use for tax and deduction liabilities. (For cash advance and loan repayment, use asset accounts.)
    • To find the names of categories for employee wages and employer payroll taxes, choose Tools > Category List.
    • If you use subaccounts, use a dash to separate the account name from the subaccount; for example: Payroll-Federal Taxes (no space before or after the dash)
    • If you use subcategories, use a colon to separate the category name from the subcategory; for example: Payroll:Gross Wages (no space before or after the colon)
  2. Set up Quicken classes

    Quicken classes allow you to classify your payroll expenses. You can use classes to group your expenses by departments, locations, or any other meaningful breakdown of your business. If you want to use Quicken classes, create them before setting up your export preferences in your payroll account. Once classes have been set up, write down their names or print the list of classes and highlight the ones you will use for the payroll data.
  3. Set up accounts in your Intuit Online Payroll account.

    You will use the Export Preferences page to enter your Quicken accounts. Use the exact same names of the Quicken accounts you will use for the payroll data.

    1. Click the Setup tab.
    2. Under the Export heading, click Preferences.
    3. Select Quicken for Windows or Mac (QIF) from the software drop down list.
    4. In the Checking Account box, type the name of the Quicken bank account exactly as it appears in Quicken.
    5. Click Customize to enter the account names exactly as they appear in Quicken.
      • When entering accounts, read the help topics next to each field to choose the right account type. In general, enter expense categories for the Wage and Tax Categories. For the Liability accounts, enter the corresponding Quicken Liability account.
      • If using a cash advance or employee loan deduction, enter an asset account to receive the payroll data
      • If you use different accounts for different groups of employees, select that option in the wage/tax category section to enter Quicken category for each employee.
      • If you use different accounts for different types of wages/taxes, select that option in the wage/tax category section to enter Quicken category for each pay type and tax type.
    6. Specify whether and how you use Quicken classes for employees.
    7. If classes are selected, you can enter them on the next page after clicking OK at the bottom of the page
    8. If you want to print checks using Quicken, select I will print paychecks using QuickBooks. Note: If you select this option, see Pay split between paper check and direct deposit below
    9. Click OK.

  4. What to do after you create paychecks.

    1. Create paychecks in the payroll account.
    2. Approve your checks.
    3. From the Pay Day tab, click Export.
    4. Select the checks and payments you want to export.
      • If you're exporting for the first time, checks and payments from the last six months should already be selected.
      • If you don't see your checks, change the date range.
    5. Click Export.
    6. In the File Download window, click Save. (Do not click Open.)
    7. Save the file to your desktop.
      • The export file is called payroll.qif. We recommend that you accept that default name.
    8. If there is a warning that the file already exists, click Yes to overwrite.

    Next, import the payroll file into Quicken.

    Quicken 2005 and later:

    1. In Quicken, click File.
    2. Click File Import.
    3. Click QIF File.
    4. At the QIF Import window:
      • Locate the payroll.qif file you saved.
      • Select <All Accounts> from the Quicken account to import into drop down.
      • Check Transactions, Special Handling for transfers and Account List.
    5. Click Next.
    6. Click Done.
    7. Click Accept All.

    Quicken 2004 and earlier:

    1. In Quicken, click File.
    2. Click Import.
    3. Click QIF File.
    4. At the QIF Import window:
      • Locate the payroll.qif file you saved.
      • Select the Quicken bank account from the Quicken account to import into drop down.
      • Select Transactions, Account List, and Special handling for transfers.
    5. Click OK.

  5. What to do after you create tax payments.

    1. Create paychecks in the payroll account.
    2. Approve your checks.
    3. From the Pay Day tab, click Export.
    4. Select the checks and payments you want to export.
      • If you're exporting for the first time, checks and payments from the last six months should already be selected.
      • If you don't see your checks, change the date range.
    5. Click Export.
    6. In the File Download window, click Save. (Do not click Open.)
    7. Save the file to your desktop.
      • The export file is called payroll.qif. We recommend that you accept that default name.
    8. If there is a warning that the file already exists, click Yes to overwrite.
    Next, import the payroll file into Quicken.
    Quicken 2005 and later:
    1. In Quicken, click File.
    2. Click File Import.
    3. Click QIF File.
    4. At the QIF Import window:
      • Locate the payroll.qif file you saved.
      • Select the liability account for the tax payment from the Quicken account to import into drop down.
      • Uncheck Special Handling for transfers.
      • Check Transactions and Account List.
    5. Click Next.
    6. Click Done.
    7. Click Accept All.
    Quicken 2004 and earlier:
    1. In Quicken, click File.
    2. Click Import.
    3. Click QIF File.
    4. At the QIF Import window:
      • Locate the payroll.qif file you saved.
      • Select the Quicken bank account from the Quicken account to import into drop down.
      • Uncheck Special handling for transfers.
      • Select Transactions and Account List.
    5. Click OK.

What happens when your data is entered into Quicken

When your payroll data is entered into Quicken, the process creates one transaction in your bank account register for each payroll service paycheck. Depending upon how you set your preferences, handwritten checks appear in the checking register with or without check numbers. If you set your preferences to mark paychecks to print in Quicken, the transactions will not have check numbers but will be marked to print. (Transactions for Direct Deposit are also included in the checking account register but have no check numbers and are not marked to print.)

The bank account transaction contains splits that affect multiple accounts, depending upon the number of accounts you specified to receive deductions:

  • A split appears for the Wage Category you specified in the export preferences.
  • A split appears for the Tax Category you specified in the export preferences.
  • One or more splits appear for each Liability account for federal, state and local taxes owed.
  • Additional splits are entered for each deduction/garnishment, one for the employee s deduction and one for any company contribution.

When tax payments are exported, they are recorded in the corresponding Quicken tax liability account and reduce the liability.

These transactions in Quicken accounts keep your balance sheet and cash flow statements up to date. Remember that you should continue to do all of your payroll reporting using our payroll service.

Pay Split between paper check and direct deposit

We recommend that you print checks in our payroll service, not in Quicken. If you choose to print checks from Quicken, only the paychecks can be printed from Quicken. The pay stubs will still need to be printed from Online Payroll.

In the case where an employee receives part of their pay as a direct deposit and the other part as a paper check, the paper check portion must be printed from Online Payroll. If you print a check in Quicken for this type of pay transaction, the printed check will include the amount already paid by direct deposit and you will overpay the employee.

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