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In this article you will learn how to enter historical information in QuickBooks. To know more call on QuickBooks help.

How to enter past sales and A/R transactions?

 To enter past sales and A/R transactions in QuickBooks there are two ways. Both methods make sure that reporting is accurate.

  • Chronologically method- in this method each transaction is entered (charges, invoices, credits, payments) in the same order they were created or received. By using this method you can create a record of all the invoices you have sent.
  • In Batches – You can record your charges in batches if you don’t have time to record your charges in order.
  1. You need to enter all kinds of charges and credits which customers know about already, followed by amount of pay received.
  2. To clear each customer’s invoice record of the past activity print a single invoice for each of them.
  3. Enter remaining charges and credits about which you have informed customers of and then start sending real invoices. In this method you do not leave a record of invoices that you have sent.

 Record historical vendor transactions.

To properly apply the credit and the payment to the bill, enter your past vendor transactions in the following order just as you do in normal recording:

  • Click on the Plus (+) icon present on the Toolbar.
  • Select Bill.
  • Between your start date and today, enter each bill that was received. Make sure you assign correct amounts to the correct expense accounts.
  • If you don’t see any Bills then you can click on Show More.

Credits from Vendors.

  • Click on the Plus (+) icon present on the Toolbar.
  • Now, in the Vendor Credit enter all credits received between your start date and today.
  • If you don’t see any Vendor Credits then simply click on Show More.

Payments

  • Click on the Plus (+) icon present on the Toolbar.
  • Now, click on Check or Pay Bills.
  • Between your start date and today record each and every bill payment you have made.

Please Note:

  • Please ensure that the payment date field is displaying the date of payment.
  • To control the check number of the bill payment, using check is the better option.
  • Open your check account register while using pay bills to match the actual check you used when you’re finished to change the number of each payment.

Now you can enter historical information into QuickBooks.

Read the article further to learn how to import bank transactions using Excel CSV files in QuickBooks. To know more contact QuickBooks help.

Using Excel CSV (comma-separated values) files you can import bank transactions to QuickBooks Online.

Make sure your file doesn’t break any of the following formatting restrictions if you feel any issues while importing your CSV file:

  • Correct that transactions displaying the amount in the Description column
  • If the word amount appears in the name of the Credit or Debit column remove it(Credit amount and Debit amount are not correct)
  • The file should be saved as a Windows CSV file by MAC users.
  • Standardize and correct the Date format into a single format
  • The day of the week included in the date column is provided by some banks. This format is not an acceptable format. Split the date and the day of the week to correct this into two separate columns.
  • Highlight the column containing the date.
  • Now, go to Data and then choose Text to Columns.

Choose the options given below follow the Convert Text to Columns Wizard:

  • Original data type: Delimited
  • Delimiters: Space
  • Column data format: General
  • Click on Finish.

How to import transactions from a CSV file?

Follow these steps to import transactions from a CSV file:

  • Select Banking from the Left menu
  • Select File upload from the Update drop-down menu
  • You can select Upload transactions manually if you’ve never connected an account.
  • From the Import Data page, you can begin your upload (click on the Gear icon in Tools, choose Import Data, and then click on Bank Data).
  • Click on Browse and then select the file that you have downloaded from your bank.
  • Click on Next.
  • Follow the on-screen instructions in the Upload file window if you haven’t downloaded your CSV file yet and download your transactions. After you download, select the file you downloaded.
  • Select the appropriate bank or credit card account from the QuickBooks Account drop-down list and click on Next.
  • According to your CSV file format, map the statement fields and then click on Next.
  • Click on the checkboxes of the transactions that you need to import and then click on Next.
  • Select Yes when asked whether you want to import now
  • Click on Let’s go while importing the Completed notification appears.
  • You are directed to the Downloaded Transactions window once the import is finished. The imported transactions will be displayed on the For Review tab so that you can review, add, or match.

To know more on how to enter historical information and import bank transaction in QuickBooks desktop, call on our QuickBooks help number. You can also write to us at support@qbooks247.com. For more information visit, www.qbooks247.com.

Post Author: qbooks247

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