Digital tools range from paying your bills online to downloading financial transactions, and let you quickly import transaction data directly from your bank or other financial institution. This saves you the time and effort required to enter that data manually.
If you have not yet set up payroll accounts in QuickBooks Mac, Intuit will set them up for you the first time you export data into QuickBooks Mac. Just enter the account names you prefer at the Export Preferences page following the instructions in Step 3. If your QuickBooks Mac company already contains appropriate accounts, you can choose the accounts directly from your QuickBooks Mac Chart of Accounts. If you need to add an account (perhaps for a new deduction), type the name you want for the account in the field and they will be set up the account in your QuickBooks Mac company the first time you transfer data.
On the Chart of Accounts, find the name of the bank account you use to write payroll checks and the expense accounts for employee wages and employer payroll taxes. Find the liability accounts you use for tax and deduction liabilities. (For cash advance and loan repayment, use asset accounts.). If you use subcategories or subaccounts, use a colon to separate the category name from the subcategory; for example: Payroll:Gross Wages (no space before or after the colon). Set up QuickBooks Mac classes.
Click Customize to enter the account names exactly as they appear in QuickBooks Mac or select from the drop-down list. When entering accounts, read the help topics next to each field to choose the right account type. In general, enter or select an expense account for the Wage and Tax Categories. For the Liability accounts, enter or select the corresponding QuickBooks Mac Liability account. If using a cash advance or employee loan deduction, enter or select 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 or select different QuickBooks Mac accounts 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 or select different QuickBooks Mac accounts for each pay type and tax type.
Specify whether you use QuickBooks Mac classes. If classes are selected, you will enter them on the next page after clicking OK at the bottom of this page.
What to do after you create paychecks or tax payments. The Bank account transaction contains splits that affect multiple accounts, depending on the number of accounts you selected to receive deductions:. A split appears for the Wage Account you specified in the export preferences. A split appears for the Tax Account 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 employees deduction and one for any company contribution.
These are the only columns QuickBooks Online can import. You can enter any additional information, such as the category and payee for a transaction, after the import, on the For Review tab of the Banking page. QuickBooks Online will enter information automatically if you have set up any banking rules, or if QuickBooks Online recognizes the descriptions of your transactions. Each bank formats its CSV files differently, so importing a CSV file may not be possible for every financial institution.
If your bank doesn't support CSV files but offers Quicken (QFX), QuickBooks Online (QBO), or Microsoft Money (OFX), you can try to import your data and then. Formatting CSV files for import To successfully import your bank transactions, your CSV file must be formatted correctly. If you try to upload an incorrectly-formatted file, you will receive an error, such as Error: We can’t upload this.csv file because some of the columns aren’t mapped correctly. If you experience any issues importing your CSV file, make sure your file doesn't break any of the following formatting restrictions:. Special characters are not allowed. Because of this restriction:.
Do not use characters such as #,%, and & anywhere in the file. From the left menu, select Banking, and choose Banking. From the Update drop-down menu, select File upload. If you’ve never connected an account, you can select Upload transactions manually. You can also begin your upload from the Import Data page (select the Gear icon, under Tools, select Import Data, and select Bank Data). Select Browse and choose the file you downloaded from your bank. Select Next.
![How To Import Bank Transactions Into Quickbooks 2015 For Mac How To Import Bank Transactions Into Quickbooks 2015 For Mac](/uploads/1/2/5/6/125657420/420382338.jpg)
If you haven't downloaded your CSV file yet, follow the on-screen instructions in the Upload file window to download your transactions and then select the file you downloaded. From the QuickBooks Account drop-down list, select the appropriate bank or credit card account and select Next. Map the statement fields according to your CSV file format and select Next.
Select the checkboxes of the transactions to import and select Next. When prompted whether you want to import now, select Yes. Select Let’s go when the Import Completed notification appears. Once the import is finished, you are directed to the Downloaded Transactions window where your imported transactions are displayed on the For Review tab for you to review, add, or match.