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yanda
April 18, 2024
Question

How do I Import Investment Transactions?

  • April 18, 2024
  • 2 replies
  • 0 views

I run a small business in Canada. We invest our excess profits/cash in an investment account (BMO InvestorLine).

 

Is there a way to import investment transactions (e.g., buy/sell) into QuickBooks? It's virtually impossible for me to reconcile my bookkeeping without them.

 

I can link up the investment account bank statement to QuickBooks, but these transactions often do not have enough information. The bank statement line items are just listed as "Balance Adjustment" and do not indicate it as a sale/purchase/etc.

 

I need to go into the investment portal itself and export the buy/sell information. But I don't think QuickBooks can't pull this in?

 

As such, QuickBooks thinks that selling stocks is revenue. It doesn't understand when I'm making a transfer, etc.

2 replies

A
Alex M
April 18, 2024

Hi there yanda,

 

Thanks for reaching out about entering your transactions. QuickBooks Online is a great tool able to import transactions from bank sites as well as files so you can have them added to your books. I can provide some assistance with importing transactions.

 

To connect an account, you can follow the steps in this article. You can also import transactions from a file provided by the financial institution in question by following these steps.

 

To know how you should be categorizing these transactions so that your books are well-balanced, I recommend reaching out to your accountant. They'll be able to specify how you should be categorizing the se transactions so your balances are reflected correctly. You can invite your accountant by going to the My accountant section and entering their contact details. You can also find an accountant near you by clicking on the Find a pro to help button in that tab.

 

If you have any other questions, feel free to reach out here.

S
Steve Chase B
April 18, 2024

Hey @yanda,

 

Best way to do this is by Contacting QuickBooks Help Desk at [scam phone number removed].

 

Thanks

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