How to upload financial statements from Excel to QuickBooks Desktop?

Good day, @IKF29.

Can you help me verify how you imported your financial statements from Excel to QuickBooks Desktop (QBDT)? As of now, we can only import Customer, Vendor, Items, and Chart of Accounts from an Excel spreadsheet. 

Please add your details to this thread and I'd be happy to help you out. Have a good one. 

@IKF29 

You can use TP Importer tool. It's one time license.

https://get.transactionpro.com/qbd

Otherwise, purchase a 3rd party service to do so.

Thats my question, how can you import the financial statements in QBD? What I did is just adding the BS balances as opening balances in the chart of account and for the P&L is a JE, but my net income shows as zero and I'm missing AR and AP. 

Any tips / advice?

Do you have more info on TP or a 3rd party that can help me?

Hi IKF29,

We recommend entering historical transactions via bank feeds or man  and categorizing them correctly instead of importing statement balances. While the latter option is possible, it's always a good idea to consult an accounting professional to ensure the accuracy of your records.

Please refer to this article about entering account balances: Enter opening balances for accounts in QuickBooks Desktop.

If you have other questions in mind, feel free to go bake to this thread. Take care and have a good one!

Reports are generated from transactions. You have to import transactions into QB Desktop.

You need to import invoice transactions to record your AR and bill transactions to record AP. If you don't want to learn the migration tool, purchase a 3rd party conversion service. Contact Fiat Lux ASIA to help you converting data from Netsuite.