UPDATED 01/28/2018 by Hector Garcia, CPA

I am going to tell you about 3 tools I tested from the developer MoneyThumb:

  • PDF2CSV – take original PDF Bank Statements from the bank (not scanned, but the ones you can download from the bank’s website) and converts to a CSV (Excel) file $99.95
  • CSV2QBO – take a CSV downloaded from the bank (or maybe created by yourself with bank debit/credit info) and convert to a QuickBooks WebConnect file or .QBO file, used to manually import Bank Feeds (previously known as “Online Banking”) into QuickBooks Desktop (Pro, Premier, Mac, or Enterprise) and QuickBooks Online $59.95
  • PDF2QBO – is kind of both tools above combined into one, go straight from PDF2QBO, the most practical way (assuming you do not wish to see/edit the data in excel before converting to .QBO ofx file $199.95
  • 2qbo Convert Pro – ALL TOOLS DESCRIBED ABOVE INTO ONE $249.95 

At the end of this article, there is a video tutorial, But here are the steps:

So the first Thing I did, was to go to chase.com and download an old Credit Card statements from 2010, since I can no longer download a CSV or .QBO (WebConnect) file for this, I would have to otherwise enter this data by hand. For illustration purposes, my statement looks like this:
Screen Shot 2014-08-23 at 12.24.47 AM

Now that I have my PDF file, I open PDF2CSV program, then go to the File menu, and click on OPEN PDF FILE:
Screen Shot 2014-08-23 at 12.28.31 AM

The next screen is just to choose the PDF file to convert:
Screen Shot 2014-08-23 at 12.39.02 AM

Then the program does its “magic” and you get a log of all the work that was done:
Screen Shot 2014-08-23 at 12.39.45 AM

Notice the warning sign, mentioned to make sure that debits/credits are correct, and you can always flip the negative sign in the settings menu
Screen Shot 2014-08-23 at 12.45.05 AM

Which in my case, I made the mistake of not doing it, and I had to redo the import file afterwards, but this will depend on your bank statement.

Then I can open the new CSV File in Excel if I need to make some changes or adjustments:
Screen Shot 2014-08-23 at 12.42.26 AM

I had to delete to subtotals that just would work for the bank feeds:
Screen Shot 2014-08-23 at 12.41.37 AM

After deleting the data you do not want, and adjusting anything you need, then you can save the CSV and proceed to use the next tool: CSV2QBO

In the File Menu, there is an option for “Preview CSV” which is best for your first import of a CSV file.
Screen Shot 2014-08-23 at 12.43.37 AM

The Preview screen then lets you map each column from your CSV into the appropriate .QBO column structure:
Screen Shot 2014-08-23 at 12.44.35 AM

Before Exporting, is very important to have the Bank settings correct
Screen Shot 2014-08-23 at 12.45.05 AM

In the Setting Menu, you go to Set QuickBooks Account Info, then make sure the right Bank is chosen on the Lookup… QuickBooks FID section.Screen Shot 2014-08-23 at 12.45.44 AM

 

The Routing number is optional, but an account number needs to be input so QuickBooks knows how to handle a future QBO import into the same account each time.
Screen Shot 2014-08-23 at 12.46.05 AM

After you get a feedback log of that was done, the .QBO file is created in the same folder when there CSV was when you opened.
Screen Shot 2014-08-23 at 12.46.27 AM

Now, onto importing you bank feeds data the transitional way: File, Utilities, Import, WebConnect File…
Screen Shot 2014-08-23 at 12.47.00 AM

Screen Shot 2014-08-23 at 12.48.36 AM

And Presto!, got yourself Bank Feeds (Online Banking)
Screen Shot 2014-08-23 at 12.55.14 AM

The 3rd Tool: PDF2QBO is designed so you do not have to use two tools to perform this end result, goes straight to QBO from PDF, the only drawback is you cannot edit the spreadsheet before importing, sometimes that could be useful, specially of the PDF was not read too well.

This tool looks identical to the the two I showed above, the developer did a good job at staying consistent with the interface

But on this one you get check a checkmark and you can choose what you want to bring and what you do not.

Conclusion, for less than $250 you cannot beat it.  This is a great bank for the buck, tons of return on investment if you are spending too much time with data entry.  Link: 2qbo ConvertPro

VIDEO TUTORIAL:

 

Hector Garcia, CPA
hector@garciacpa.com
“Fighting the War on Data Entry”

 

 

 

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One Response to Import PDF Bank Statement into CSV or .QBO (Bank Feeds) Converter

  1. Avatar ravi says:

    how is bulk entry import in quick book

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