1.Connect Your Bank Account
On the Home page, under Bank Accounts click Connect an Account.
Choose your bank and the username and password you use to access your accounts. Click Log In when you are finished.
2.Choose Your Account
Once connected, you’ll see all of the accounts you have at this bank. Choose the account you use for your business and tell QuickBooks what kind of accounts they are. Click Connect and QuickBooks will download all of the transactions from the last 90 days – but they aren’t in QuickBooks just yet.
On the Bank and Credit Cards page, click on the Category or Match column to sort the transactions. You will see where QuickBooks tried to find categories for some transactions.
Click the first transaction in the list to open the drop-down transaction detail.
4.Changing Transaction Category
To put this transaction in a different category, open the transaction menu and choose the right one. If this is a new transaction, click Add on the column to the right.
5.Choose a Payee
Select Payee. If this is a new payee, click + Add new at the top of the menu options.
Enter the name of the new payee and click Save. You can enter their details later
If you paid a business credit card bill or made a loan payment with a transaction, open the transaction and choose Transfer.
If you purchased items from different categories with a single transaction, choose Split.
This will open the Split Transaction window, where you can choose the appropriate categories and how much you spent on each.
If QuickBooks correctly categorized a bunch of transactions, you can accept these all at once by clicking one of their checkboxes, holding down the Shift key and choosing the final one in the list.
Open Batch Actions and choose Accept to accept them all together
9.Correcting a Mistake
If you accidentally included a transaction that doesn’t belong in this batch action, click the In QuickBooks tab, choose the transaction and Undo it. It will return to the New Transactions so you can place it where it belongs.
Richard McBride is a Business & Finance advisor with over 20 Years practical Accounting & business experience. Originally from Co.Clare, Ireland, moved to Vancouver BC Canada in 2009. Currently Lives in the beautiful Shuswap region with his family and maintains offices in Abbotsford and Vancouver