Import Your Data into QuickBooks

Contents

Import Overview

At this point, you have converted your bank account or credit card transactions into QuickBooks format. The last step is to import that data into QuickBooks. It's super quick and easy to do.

In summary:

  • Start QuickBooks
  • Backup your data
  • Select the file to import

Step-by-Step Instructions

Step 1 - Start Quickbooks

  • Start QuickBooks and open your company file

Step 2 - Backup Your Company File

It's a good idea to regularly backup your company data file, just in case. Assuming you have already told QuickBooks how to backup your data, do this:

  • Select FILE > SAVE A COPY OR BACKUP...
  • Select BACKUP COPY
  • Click FINISH
Backup your data

Step 3 - Import your data

  • Select FILE > UTILITIES > IMPORT > IIF Files...
  • QuickBooks import utility
  • Navigate to the folder with your downloaded credit card statement and select the .IIF file (or, select the file and click OPEN). Your data will immediately be imported and you'll see this message:
  • QuickBooks import complete

    Click OK.

  • TIP: You can actually watch the magic of your transactions being posted as they are imported. Before doing this Step 3, just open your bank or credit card account (from the Chart of Accounts list, double-click the account to open the register) and size the window to, say, half of your screen. When you import the IIF file, you'll see the transactions being added one by one. It's nice to see all that data being entered without you having to type it!
  • TIP: If you receive an "invalid transaction" error, check the account names in your configuration settings. Make sure that the accounts are spelled correctly. You may click OK to process the next line item or CANCEL to abort the import entirely. If you want to examine the data, open the .IIF file using Excel and look at the transaction which ends on the line number in the error message.
  • QuickBooks import error

After importing successfully, the .IIF file is no longer needed. You may delete it or you might want to move it to another folder so that you do not accidentally import it again (for example, move your imported files to a folder named Has been imported into QB). Note that QuickBooks has no way to know if an .IIF file has already been imported -- it will import again if you tell it to.

What to do next

You’re done! You can now use QuickBooks to view the imported transactions, reconcile the credit card or bank account, view reports, etc.

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