Often times our users will have a excel listing of expenses that they would like to import to QuickBooks or QuickBooks Online and they are unsure as to which import type to select. The purpose of this article is to describe all the different import types that you might want to consider selecting and how they work within QuickBooks.
When creating a check transaction in QuickBooks you are reducing your bank account balance and recording an expense. This transaction type is most frequently used when the payment of the expense has already occurred.
Credit Card Charges
A credit card charge is used when you use a credit card to make the expense purchase.
A bill is used when an expense has been incurred and will be paid at a later date.
Bill payments are used to pay off existing bill transactions in QuickBooks.
This is the least often used way to import expenses to QuickBooks. Your journal entry would have debits for the amounts paid and a credit to the bank account. There are a few drawbacks to using this import type: (1) only one date can be used on each journal entry so if you have multiple months of expenses at a minimum you will need to create a journal entry for every month and (2) using journal entries reduces the availability of reporting options that you have in QuickBooks.
So are you ready to take a shot at importing your expenses to QuickBooks or QuickBooks Online? You can request free trials below:
QuickBooks Pro, Premier or Enterprise:
- Free trial of Transaction Pro Importer for QuickBooks Online on Apps.com
- Getting started Guide for Transaction Pro Importer for QuickBooks on Apps.com
So how do you create or import your transactions into QuickBooks or QuickBooks Online?