Import bank statements into QuickBooks Online

Importing bank statement transactions is straightforward when you set up bank feeds on your accounting software or if you can download a file directly from the bank’s website.

However, sometimes you need to import old transactions from a few years ago or maybe you only have PDF or scanned copies of the statements.

As a busy professional, you don’t have the time to manually enter all this information. Thankfully, there’s a better way. You can use DocuClipper to automatically import the bank statements into Excel or your accounting softare.

Step 1 Select the statements

Click on “Bank and credit card statements”.

Drag and drop one or more statements. DocuClipper works with any text or scanned bank statement. It uses Optical character recognition technology to be able to read scanned statements. You can process multiple statements at the same time.

Click on convert.

Step 2: Transactions are extracted automatically

DocuClipper extracts all the transactions from the bank statement and other data like balances, dates, account numbers, etc.

Step 3: Reconcile the statements

DocuClipper compares transaction totals to summary information on the statement. If everything checks out, the statement is identified as reconciled, saving you time and manual review. You can see the reconciliation status on the summary table (top right of the page).

Here’s a video showing how to reconcile the statements:

Step 4: Download a Web Connect file

Click on “Download Data”. Select QuickBooks Web Connect. Select the bank. Select if the statement is from a bank account or credit card. Optionally enter the routing, account numbers, and currency. Click on “Download QuickBooks Web Connect” and the file will be downloaded to your computer

Step 5: Import the Web Connect file into QuickBooks Online

If you have the account already created, select that account. Click on the down arrow next to the “Link Account” button, look for the ‘Upload from file’ button and click on it.

Look for the ‘Browse’ button.

Click on it to browse for the QuickBooks Web Connect file. Then click ‘Open’ and ‘Next’.

Review that QuickBooks Web Connect file you are going to import: filename, Account ID, Account Type, and Date range.

If everything looks good and this is the correct QuickBooks Web Connect file, select the QuickBooks account you want to import your data into. Then click ‘Next’.

Then click ‘Let’s go!‘.

Click ‘For Review’. You can see four transactions are imported. The Description is actually the Payee name from the QuickBooks Web Connect file. The Payee column is empty because this is Vendor records in QuickBooks to match. Now you have to categorize the transactions and match them to Vendors or Payees. Click on the transaction.

And then select Vendor records and Category, which is expense or income account.

Click ‘Add’ to add the transaction to the register. Continue for all transactions.

Let’s say you realized, that it is an incorrect imported QuickBooks Web Connect file or something wrong with a file, and you don’t want those transactions to be here. So, select all transactions.