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Can i use Quickbooks cashlow statement for old transactions? I joined Quickbooks in April 2020 and i have to prepare Annual Returns for the past two financial years.

 
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QuickBooks Team

Can i use Quickbooks cashlow statement for old transactions? I joined Quickbooks in April 2020 and i have to prepare Annual Returns for the past two financial years.

Hi there, accounts397.

 

Yes, you can use QuickBooks cashflow statement for old transactions. However, you'll need to manually enter the transactions in the system or import them to QuickBooks Online. This way, past entries will reflect in the cash flow statement and you can use this to prepare Annual Returns.

 

There ate two ways on how you can manually enter a transaction in QuickBooks Online. You can do it by going to the Plus (+) icon or on the Register page. In addition to this, I’d suggest checking out our Help articles page. There, you can browse some useful articles that serve as guidelines for creating transactions.

 

Please follow the steps below on how you can manually import your list in QuickBooks Online.

 

For a chart of accounts, you can import your accounts using a spreadsheet in Excel or CSV file format. Here's how to get it ready before you upload it to QuickBooks.

 

  1. Open your existing spreadsheet of accounts or create a new one. Or, export your chart of accounts from another QuickBooks company.
  2. Make sure you have these columns in your spreadsheet( Account Name, Account Type,Detail Type)
  3. If you organise your accounts by numbers, add an Account Number column. Skip this if you don’t use account numbers.
  4. If you have a subaccount, add it in the Account Name column in this format: Main account: subaccount. For example, Utilities: Gas.
  5. Once done, save your spreadsheet in Excel or CSV format.

 

Then, you can now upload your spreadsheet. Follow these steps:

 

  1. Sign in to your QuickBooks Online company.
  2. Click the Gear ⚙ and then Import Data.
  3. Select Chart of Accounts.
  4. Select Browse. Then, find and select the spreadsheet you saved.
  5. Select Next.

 

After that, match your fields to QuickBooks fields to make sure your accounts get imported correctly. To view the information and to finish the process, please check this article: Move your chart of accounts to QuickBooks Online.

 

For other lists that you want to import, please refer to this article to see the instructions on how you can import them successfully: Move your lists to QuickBooks Online.

 

Once done, transactions that are imported will show in the cash flow statement. 

 

Please open this article on how you can file and pay the Tax/GST you owe using QuickBooks Online International version: File and pay Tax/GST.

 

Please feel free to drop me a reply below if you need additional assistance. I'd be more than willing to help you. Take care!