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New QB Online acct....wanting to enter data from 12-31-1019 thru current. Should I connect with my bank before or after entering old data?

 
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New QB Online acct....wanting to enter data from 12-31-1019 thru current. Should I connect with my bank before or after entering old data?

Welcome to the Community and thanks for choosing QuickBooks Online as you business partner, leighbraden-.

 

When entering historical data in QuickBooks Online, it depends on you whether you connect the bank account or not. I'll give an overview of what you'll based on the scenario.

 

Connecting your bank account allows you to download the cleared bank transactions from your bank's website. Some banks can download the last 90 days. Others can go back as far as 24 months.

 

If you do this first, your only option will be to categorize the bank transactions to the correct Income and Expense accounts. Then, you can select Add.

  1. Select Banking on the left menu and go to the Banking tab.
  2. Go to the For Review section and categorize the bank transactions.
  3. Click Add.
    These transactions will be moved to the Reviewed section and will also affect your QuickBooks bank register.

If you choose to enter the historical transactions first, you can already select Match in the Banking page. This will link the transactions that are already in your register and the ones cleared from your bank.

  1. Select Banking on the left menu and go to the Banking tab.
  2. Go to the For Review section and categorize the bank transactions.
  3. Select Match.

Here are a few articles that might be useful in the future when using the Banking page:

Keep us posted if you have additional queries about this. Community will be right here 24/7 to support you.

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