In this video we show you how to clean up the data before import, how to create an account to each transaction, how to copy/paste deposits from excel to QuickBooks and how to reconcile and reclassify transactions
Table of contents:
- 00:00:43 – How to clean up the data before import.
- 00:04:56 – How to split or separate my debits from my credits.
- 00:06:53 – Select all the payees and come into QuickBooks to create all those payees as customers (step by step) and then the same process but as vendors.
- 00:08:58 – Go to accountant menu, click on batch enter transactions and start with checks or bank debits (copy/paste checks/debits).
- 00:12:10 – Create an account and copy down to put every single transaction to an expense account in this case (example).
- 00:12:55 – Copy/paste deposits or credits from excel to QuickBooks.
- 00:14:35 – Reconcile (steps: click on reports, company financial, profit and loss standard, dates, last fiscal year, then click on banking and begin your reconciliation process).
- 00:16:12 – Reclassify transactions (income and expenses).
- 00:21:08 – Profit and loss progress after reclassifying transactions.