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muniruddin
February 26, 2023
Question

banking

  • February 26, 2023
  • 2 replies
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our is a small business having few transactions each month. we can not afford a bookkeeper. I know personally all the transactions each month. I have a POS Point of Sale software for recording sales and payments. We use QuickBooks only for the purpose of preparing profit and loss accounts and filing HST. Can we add transactions in QuickBooks when we download them from bank instead of entering transactions through invoices and bills? if yes, what would be the disadvantages of applying this method?

2 replies

G
GlinetteC
February 26, 2023

If your bank allows you to import .qbo files, then the answer is yes. muniruddin.

 

To begin, you must obtain your Web Connect file from your bank, not from within QuickBooks. This will ensure you download the appropriate file. Here's how:

 

  1. Sign in to your bank's website
  2. Find and download the Web Connect file (.qbo file).
  3. Open QuickBooks and your company file. Then, start importing your .qbo file.

 

There are two ways to go about it. You can access the File or Banking menus, respectively. Please see attached screenshots for your visual reference:

 

Here's an article about importing transactions for reference: Import web connect (.qbo) files.

 

If you run into problems while importing, I suggest using the fundamental troubleshooting techniques described in this article to resolve Web Connect import problems in QuickBooks: How to fix import issues in QuickBooks Desktop.

 

If you have any additional queries about controlling your bank data within QuickBooks,  I'm ready to assist you more.

    M
    muniruddinAuthor
    February 28, 2023

    Hi, respectable teacher

    I am really grateful for your quick and detailed response. I am very much satisfied with your reply. I had been searching for a reply to my question for many days but did not find an answer. I shall apply this solution and bother you again if I find some problem. Thanks a lot.

    Munir-ud-din

    Fiat Lux - ASIA
    Fiat Lux - ASIA
    February 27, 2023

    @muniruddin 

    I would recommend to import your data as Sales Receipt from your POS system.

      M
      muniruddinAuthor
      February 28, 2023

      Hi, respected teacher

      I am very much grateful for your kind advice. I am new to QuickBooks and presently do not know how to import transactions from POS to QuickBooks. Our is a very old version of POS which I think cannot be integrated with QuickBooks Desktop. I would search, for how to import the transactions from POS to QuickBooks and shall be back again if I find some problem. However, I shall be very grateful if you suggest some easy method to import transactions from POS to QuickBooks. Thanking you, 

      Sincerely,

      Munir-ud-din

      R
      ReymondO
      February 28, 2023

      Thanks for getting back to this thread, @muniruddin.

       

      Can you share the version of QuickBooks Point of Sale you're currently using? This way, I can provide you with the right info to help import your POS sales into QuickBooks. 

       

      How QuickBooks Desktop (QBDT) integrates with POS depends on their system requirements and versions. QBDT Point of Sale 19.0 works with QuickBooks Pro, Premier, and Enterprise Solutions (2018-2021) versions. 


      For now, you can import sales and payments using Web Connect (.QBO) files in QuickBooks Desktop (QBDT) which was suggested above.

       

      Another way to import transactions is by searching for a third-party app that integrates with QBDT. You can search for the app at https://desktop.apps.com/home website.

       

      You can also visit the Community Help page. We have lots of articles that you can browse which could answer your product-related questions.

       

      Looking forward to hearing again from you, muniruddin. We're always here for you. 

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