Importing transactions into quickbooks 2010

Importing transactions into quickbooks 2010 how to#
Importing transactions into quickbooks 2010 for mac#
Importing transactions into quickbooks 2010 software#
Importing transactions into quickbooks 2010 download#

A workaround for this is to open theВ .iifВ file in Excel as a tab-delimited file, change the account names in Excel (or add a class), and save the file.

This means that if youвЂ™re paying for goods or services through PayPal, all of these transactions will be posted to the PayPal Fees expense account.

ItвЂ™s all or nothing.В One downside to using the utility is that all sales and expense transactions post to one account.

If this happens, you can easily edit the newly created PayPal account, change its type and name to match the correct account, and merge the accounts together. iif file causes QuickBooks to create a new bank account and post all transactions to it.

Importing transactions into quickbooks 2010 download#

Watch your typing.В Be sure that you enter your QuickBooks accounts in the download history screen in PayPal EXACTLY as they are spelled in QuickBooks.

This makes reconciling both your PayPal and bank accounts a snap!

Then, when you actually make the transfer to your actual bank account from PayPal, you can record the transfer in QuickBooks from the PayPal Account to your Bank Account. Instead, set up a separate QuickBooks bank account for the PayPal transactions called вЂњPayPal Account.вЂќ This way, theВ .iifВ file imports all of the transactions to the PayPal Account and acts as an вЂњundeposited fundsвЂќ account. If youвЂ™re using PayPal, youвЂ™re probably transfering funds from your PayPal account to your bank account daily or weekly, so it doesnвЂ™t make sense for you to map theВ .iifВ file to your QuickBooks bank account. Here are a few tips on make the import go smoothly: You can check your transfers against the transaction history report in PayPal. Record your transfers from the PayPal Account to your Bank Account by choosing Banking > Transfer Funds.YouвЂ™ll need to change the dates each time you use the memorized report. Memorize this report (Edit > Memorize) for future use. Review the transactions for accuracy and make corrections. Double-click the вЂњPayPal FeesвЂќ Expense account. Open the Profit and Loss report and change the dates to match the dates of your import.To fix this, edit the PayPal-generated accounts and change the type and name to match the correct account. If you see new bank accounts at the top of your chart of accounts, you didnвЂ™t enter the account names correctly. Check your chart of accounts to make sure the data was correctly imported.In QuickBooks, choose File > Import > Import IIF File.BACK UP YOUR QUICKBOOKS FILE! Do this so that if the import doesnвЂ™t work as planned, you can step back and restore your company file.Save the file to your desktop or another location where you can easily find it.On the Download Log page, enter your account names EXACTLY as they appear in QuickBooks.Click the Download History button at the bottom right of the page. You wonвЂ™t be able to download shopping cart detail, so donвЂ™t click the checkbox next to this option. Then choose вЂњQuickBooks (.iif)вЂќ from the pop-up menu. Choose the transaction dates for the data you want to import.On the History menu, choose Download History. In QuickBooks, create a new bank account named вЂњPayPal AccountвЂќ and a new expense account named вЂњPayPal Fees.вЂќ.

Importing transactions into quickbooks 2010 how to#

HereвЂ™s how to get your PayPal data into QuickBooks for Mac:

If it canвЂ™t find a match, itДЄdds the customer name to the Other Names List. Where possible, QuickBooks tries to match customer names in the imported transactions with existing customer names in QuickBooks. QuickBooks- records a deposit for each transaction using a single income and expense account. On the PayPal website, you download the data to an. HereвЂ™s whatвЂ™s happening in a nutshell: A customer pays you through PayPal, increasing your PayPal account balance.

Importing transactions into quickbooks 2010 software#

If you need a more robust utility that includes customer and item detail, check out or Both of these companies charge a fee for their software and/or services. However, PayPal offers a utility to import these transactions directly into QuickBooks using Intuit Interchange Format (.iif).ДЄlthough a bit limited, the utility is useful if you just want to keep track of your revenues and deposits. Typically you must manually enter all customer data into the company file, and then generate invoices and record payments individually.

Importing transactions into quickbooks 2010 for mac#

Manually recording PayPal transactions in QuickBooks for Mac can be time-consuming and tricky, especially for businesses that want to keep track of customer data in their company files. Over eight million businesses use PayPal to process their credit card transactions and the numbers keep growing.