How to import credit card transactions from Excel CSV (.csv) file into QuickBooks Online?

The short video (below) will show you step-by-step instructions on how to import credit card transactions from Excel CSV file into QBO so that you will not import transactions the wrong way.

Confusion has to do with bank account field and Quickbooks field screen. It is the same field name for bank download as well credit card download. Users are importing a CSV file from credit card company and every transaction ended up being the opposite of what it should be…. expenses listed as credits (spent), credits listed as expenses (received).

Once you have downloaded transactions, there is no way to UNDO or delete downloaded transactions. You will have to move to “EXCLUDED” column and it will stay there forever which is not good.

So, I highly encourage you to watch the entire video. You do not want to miss a step.

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How to undo bank reconciliation in QuickBooks Online Accountant (QBOA) version?

Undo bank reconciliation feature is not available in any plans at this time. It is available in Accountant version only.

In order to UNDO IT,  first log in to your QBOA account

  • Go to Client home page screen
  • Click the company gear (upper right corner)
  • Click Reconcile under Tools
  • Select Bank Account to UNDO reconciliation
  • Hover your mouse cursor over the reconciliation month you want to undo (under Ending Balance or Auto Adjustment or any column) and as you are hovering you will see UNDO button to the right next to Auto Adjustment column
  • Select UNDO button
  • New Undo Reconciliation screen will open
  • Click OK
  • Next, Success screen will open
  • Click OK again

It will longer be on the Reconciliation History & Reports list.

qboa undo button
qboa undo button
qboa undo reconciliation screen
qboa undo reconciliation screen

NOTE: If you need to sign up for QuickBooks Online Accountant version, you can do it from here and the price is right (it’s FREE):

https://quickbooks.intuit.com/start/qba_signup

See QBOA signup screen below for reference.

qboa signup
qboa signup

How-to UNDO bank reconciliation tutorial video

To transfer fund between accounts within QuickBooks

From the home page screen

  • Click Create (+) Sign
  • Under “Other” select Transfer

Here you can record the transfer, just click Save and Close when you’re done.

In this example (see screenshot photo for reference), it’s transferring $1,000.00 from Checking Account to Savings Account.

  • Transfer Funds From = Money coming out from that account
  • Transfer Funds To = Money going into that account
  • Transfer Amount = Amount transferred from one account to another account
  • Memo = To record transfer information. Indicate reason if necessary.
  • Balance = Existing QuickBooks Balance before this transfer recorded
  • Attachments = Attach bank receipt for record

from create + sign to transfer

sample transfer transaction

New QuickBooks Online Plus – How to enter various expenses in new QBO?

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

How I can generate a 1099 summary report for non-employee compensation in QuickBooks Online Plus?

There is no built-in 1099 related summary report for non-employee compensation at this time

Here is how you can get that information.

Go to prepare 1099-MISC forms screen (blue navigation bar > vendors > prepare 1099s button (right corner) > “Follow the steps to prepare 1099-MISC forms” screen > Choose “Print using purchased forms” link (at the bottom) > side arrow will move down and expand with more information > select “Print Information Sheet” blue button (at the bottom).

It will show printable “1099 Information Tax Year 2014” report.

print using purchased forms
print information sheet
1099 information report


Updated 12/10/2015:

It used to be able to preview the 1099 Summary Report without having gone through all the prepare 1099 steps. There is no way to preview accounts and vendors meeting the threshold without going through the prepare 1099s steps now. It is not clear why the “1099 Transaction Detail by Vendor” is not even a built-in report at this time.

To run this report (go through all the steps), click on the Box 7 payment amount by any vendor to get a vendor report to support that value. See attached screenshots below.

prepare 1099s
1099 transaction

If you want to run this report for another vendor, you will need to do it all over again. Would not it be nice if they have the simple build-in “1099 Transaction Detail by Vendor” for ALL the vendors in one customize format?

Send them your feedback before it’s too late for this year.
Gear (upper right corner) > your company > FEEDBACK.

How can I assign more than one account from Chart of Accounts for my 1099’s?

First, you need QuickBooks Online PLUS plan, to have prepare and print 1099s feature.

To assign more than one account from your company Chart of Account:
From the home page screen > go to blue navigation bar on the left > click Vendors tab > Prepare 1099s button (upper right side) > Assign Accounts > Select the box number > Under Account, click Select Multiple… from the drop down menu > Select from list > Add to Include in 1099 Box> OK > OK.

Helpful tip: after you click OK, under Accounts it’ll just say “Select Multiple…” , it won’t list all the accounts that you had selected.

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