![]() ![]() Selecting “Retain as available credit”, keeps the credit memo as a credit in the customer’s balance. When saving the credit memo, QuickBooks uses a popup screen to ask the following question. In this example, Rock Castle Construction refunds their customer, Kristy Abercrombie, for two hours of labor that resulted from the breakdown of their air compressor. Defective products, services that didn’t work, or just to pacify an unhappy customer, occasionally a refund will need to be processed.Īs common as this situation is, it is surprising how few QuickBooks users are familiar with the process. If you’re considering a switch to QuickBooks Online, check out our tutorial on how to convert QuickBooks Desktop to QuickBooks Online.For many businesses, customer refunds are a fact of life. Wrap UpĬongratulations on finishing our lesson on importing bank statements into QuickBooks Desktop. Alternatively, you can manually import transactions in Excel, but you have to download and install the QuickBooks Import Excel and comma-separated values (CSV) toolkit. If WebConnect download is unavailable, then you’ll need to import your transactions through bank feeds. What if my bank doesn’t support WebConnect file download? QuickBooks uses multiple layers of network, storage, and physical access security measures to ensure that your banking information is always safe and secure. Is my bank information secure with QuickBooks Desktop? If you need to import transactions before those 90 days, then you need to seek assistance directly from your bank. Most financial institutions allow you to import up to 90 days of transactions. Frequently Asked Questions (FAQs) How far back can I import to QuickBooks Desktop? Check out our tutorial on how to reconcile a credit card balance in QuickBooks Desktop. At the very least, you should import your bank and credit card transactions whenever you receive a statement-but prior to reconciling the account. How Often Should You Import Transactions to QuickBooks Desktop?Ī good rule of thumb is to import transactions to QuickBooks Desktop no less than once per month-but do it more often if you actively use QuickBooks to monitor your expenses and bank account balances. Save time from entering your data manually.Moving your bank transactions to QuickBooks helps you: Most banks have digital banking features that make it simple to 1) allow QuickBooks access to your account or 2) export transactions that can then be imported into QuickBooks. The ability to import your bank transaction to QuickBooks Desktop is one of the software’s biggest time-saving features. Why Import Your Bank Transactions to QuickBooks Desktop? You can review and manage your transactions in the banking center just like what we did earlier after importing transactions through bank feeds. Your WebConnect file is now transported to QuickBooks Desktop. To do this, click on the Add more details drop-down under the Add button on the far left side of the screen. However, before we proceed, we need to provide additional details. In this case, you need to review and add it to the account register manually. There are some instances where QuickBooks doesn’t match a bank transaction to what’s in your books. Your goal is to enter the three transactions into the register. When you confirm a recognized transaction, it’ll be entered into the account register, as reflected in the Added Register tab. Ignore: Click this if you wish to do nothing about the transaction.The transaction will go to the Unrecognized tab. Not a Match: Select this if the transaction from your bank isn’t the same transaction to which it has been matched in QuickBooks.Click Confirm if it matches your bank transaction. View Details: Clicking this takes you to the actual check. ![]() Under the Recognized tab, on the left side of the screen, you’ll see the Confirm button (not shown) with three drop-downs: View Details, Not a Match, and Ignore. We recommend that you always review the details before clicking on the Confirm button. When QuickBooks matches a bank transaction to one that’s already recorded in your books automatically, it’ll go straight to the Recognized tab. Bank Feed Center in QuickBooks Desktop Managing Recognized Transactions ![]()
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