QuickBooks Team

Transactions

Let me help ease your doubts, @Aitch.

 

I appreciate you for taking your time getting back to us and for sharing additional details on your concern. I’d like to have this opportunity to share to you how QuickBooks Self-Employed handles bank connections and recording your transactions.

 

To start with, Intuit puts a great value on its customer’s privacy and security. Whether you you connect your business bank account or personal one, we have put the same level of security in integrating your account. Thus, QuickBooks Self-Employed has secured read-only connection with any of its supported bank account. By doing so, QuickBooks Self-Employed will only rely on the data that your bank is willing to share with us. Also, the system cannot make any changes on your transactions once it is downloaded in the system nor it will affect the transactions posted in your bank’s website. For additional insights, you may check out this article: About secure bank connections.

 

On the other hand, Cash account is default account in QuickBooks Self-Employed. Currently, the ability to create a bank account in the system manually is not yet available. I understand how beneficial it is for you and your business to be able to manually set up a bank account in the system. I’ll make sure to pass along your request to the Product Development Team for consideration in future updates.

 

Since you opted to import your transactions using a CSV file, these transactions will be recorded in your Cash accounts.

 

Lastly, when you received payments for the invoice you’ve sent to your customer, you’ll have to click the Mark as paid link in the Action column. Here’s how:

  1. Go to Invoice tab.
  2. Look for the specific invoice.
  3. Under Action column, click Mark as paid.

To record the payments made, you can manually add the payment as an income transaction. Here’s how:

  1. Go to Transactions page.
  2. Click the Add Transaction button.
  3. Enter the payment details.
  4. Make sure to select Income as its category.
  5. Hit Save.

If the payment transaction is part of the CSV file you’re about to import, there’s no need to add the payment manually. Just make sure to categorize transactions as Business: Income.

 

That should do it! Keep me posted on how things work on your end. I’m always here to help you manage bank transactions and invoices in QuickBooks Self-Employed.