• Quickbooks For Desktop

QuickBooks downloaded transactions holding center has quite a few things going on: A) There are four (4) options that QuickBooks assigns based on whether or not it recognize a particular transaction. 1) If it finds a match, it will color the word Match in the category section in 'green' as well as place the word Match to the right of the. Inventory is only available in QuickBooks Online Plus using the First-in-First-out (FIFO) method in accrual. Only Desktop of Windows, not Mac, can export inventory to QuickBooks Online. When you select the option to import inventory, it will ask you to choose a date, which we will use to recalculate your inventory based on FIFO calculations. QuickBooks for Mac 2019 User’s Guide iii link to Intuit PaymentNetwork that your customer can click to pay you online. 110 Step 3: Get paid! 110 Step 4: Download the payment to QuickBooks Desktop for Mac. 110 When you owe a customer 111 Creating a credit memo and refund 111 Getting paid for time and costs 113 Assigning costs (or time) to a. Choose Help Update QuickBooks Desktop. Complete a final transaction download and match downloaded transactions. Complete one last transaction update before the change to get all of your transaction history up to date. Accept all new transactions into the appropriate registers. (required) On or After the 2nd Action Date (October 20. Downloading bank transactions in QuickBooks Online is pretty simple after you have set up your account for online banking. Follow the steps below to download your bank transactions: Step 1. If you have already added your bank account to QuickBooks but did not setup for online banking, go to Transactions at left menu bar, and select Banking from.

QBO files are Web Connect files similar to direct online download (save a QBO file from your online banking and then import into Quickbooks)

This tutorial shows all the steps for QBO import into Quickbooks Desktop for Mac.

This example is for the Quickbooks Desktop macOS version. Before importing any file (IIF file, QBO file, QBJ file) into Quickbooks, make sure to backup your Quickbooks company data file.

To backup your Quickbooks data, click 'File' - 'Back Up'.

Then click 'Start Backup'.

Now your backup is completed. Click 'Show in Finder'.

Backup file (.dmg) is created. To restore - double-click this file and then read the instruction (how to restore).

The next step is to inspect a QBO file we are importing. You could have a QBO file downloaded from your Online Banking or you already have it, and you need just to import it. Or you could have it from PDF or CSV file or another format, using a utility like a ProperSoft converter, for example, CSV2QBO, Bank2QBO. Go to https://www.propersoft.net/ for all utilities, and select 'I want to create a QBO file'. Now right-click on the QBO file - select 'Open With' - 'TextEdit'. QBO file is a text file, so you can view it at any text editor.

Look for the INTU.BID line and make sure that it is from the allowed bank. You may not know your Bank ID. But if you use ProperSoft utility you could find that Bank ID and check if your Bank is allowed. If your QBO file stopped importing, maybe your Bank ID or INTU.BID ID is not allowed anymore for your Bank. So, you have to use different INTU.BID numbers.

Currency should be USD even for non-USD accounts for Quickbooks US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. For Bank ID it has to be digits only number. For Account ID it must be digits only number. If you are importing for different accounts, you have several QBO files. It has to be the same number for the QBO files for the same account. For example, you have three QBO files for one account and two QBO files for another account. So, those three must have the same account ID's same number and another two must have another, but the same account ID for those two.

Another important setting is Account Type, Checking or Credit Card. You can not import a QBO for Credit Card into the Checking account, you can not import a QBO for Checking into Credit Card account in Quickbooks. If you have an incorrect Account Type in your QBO file, downloaded from your bank, you can use Bank2QBO utility to change the Account Type. So it is changing from Checking or Credit line to Credit Card or Credit line to Credit Card, from Credit Card to Credit line and so on.

Another setting to check for is that expenses are negative. This is the one transaction statement (starts from statement and ends by a statement with a slash), which has a Date, Amount, also there is could be Payee or Memo. So, in our example, the transaction is an expense and it must be negative. Credit Card or Bank account must be negative for expenses. Money takes it from the account, must be negative. Some Credit Card companies supply the CSV files in the opposite way, for example, expenses or charges are positive and payments to the account are negative. Don't pay attention, when you convert CSV to QBO, and then you convert charges as positive, then they will go on QBO file as positive. So they must go as deposits when you convert a QBO file. It is also a good idea to do backup again. So if you forget to do this reverse and then you imported that file, you could easily restore from backup.

The next setting to check in Quickbooks before importing a QBO file is Chart of Accounts. Click 'Lists' - 'Chart of Accounts'.

If you see that account you want to import (in our case, we want to import into Checking account) has a blue ball icon, it means the account is Online Services connected or previously QBO file was imported into this account, but you don't know with which settings it was imported. You need to disconnect first to import a QBO file.

To disconnect, right-click - 'Edit Account'.

Then click 'Online Settings'. Online Account Information shows us a Bank name - 'Wells Fargo Bank', how the account was connected, defined by INTU.BID value, Account Number - it could be different from what you have in the actual account settings and the Account Type. To remove all this, you just have to select 'Not enabled'. Then click 'Save' and 'OK'.

Check there is no blue ball icon after the change. After disconnecting the account from Online Services, you can import a QBO file.

Let's import a QBO file. In this example, we have already a QBO file at the beginning of this tutorial. Click 'File' - 'Import' - 'From Web Connect'. QBO files are Web Connect Files.

Then you select a QBO file to import. Click the 'Open' button.

Then inspect the Account Number, which comes from the QBO file, Account Type and Store in the Quickbooks Account, which shows how you link an account. Select an existing account (Checking) to import transactions. If the account has a blue ball icon, it would not be listed here. Click the 'Continue' button.

Now your Web Connect data has been successfully read into Quickbooks. Click the 'OK' button.

Match transactions to Vendor Records and expense account. 'Downloaded as' column is a Payee from the QBO file.

'Payee' is empty, because you have to select a Vendor. For example, select 'Home Depot'.

Then you select, for example, 'Office Supplies' Account. Click 'Add One' or 'Add Multiple', if you mark more.

That transaction is selected now. Continue to select payees, expense accounts until there are no transactions left.

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As the QuickBooks online enterprise expands, it makes sense that they need to grow their library of file extensions to accommodate the big data. QuickBooks Desktop uses different file types to express varying forms of information. For example, your main company files (QBW) are in a whole other realm than the backup data files (QBB).

File formats also differ depending on your operating system and the version of QuickBooks being used. Are you working with Windows or Mac? QuickBooks 2016 or 2019? To get started, it’s best to understand the most common file extensions and what they represent.

QuickBooks Common File Extensions

QB files are generally categorized by what they do and how they function. So, what are the key file extensions used in QuickBooks? Here are the top ones you should know:

QuickBooks Files for Windows

QBW

File type: QuickBooks Company file

Whenever you generate a company file in the system, it is assigned the .qbw extension. This holds your company file and account data. For example, if you create a company called Easy123, it would appear in QuickBooks as Easy123.qbw. The qbw file is one of the most popular on the platform.

QBB

File type: QuickBooks Backup file

Every time you back up a company file, QuickBooks creates a backup in the system and assigns it a .qbb extension. Familiarize yourself with the qbb file as you will see them a lot.

QBM

File type: QuickBooks Portable file

If you move or email a company file, a compressed version of the file is created and assigned a qbm extension. This helps to track the path of your data.

QBO

File type: QuickBooks Bank Statement file

When a business downloads transactions from their bank, QuickBooks opens them with a .qbo file format. You can also import a qbo file to quickly export transactions into your bank register. These files help to facilitate online banking.

QuickBook Files for Accountants

QBX

File type: Accountant’s Review Copy/Transfer file

If you make a backup of your company file for an accountant, QuickBooks assigns the .qbx file extension. This makes it easier when it comes to tax time. The qbx is a portable company file you export and send to an accountant. When the backup is opened, it becomes an accountant’s copy file.

QBA

File type: Accountant’s Copy file

These QuickBooks file extension types are created when an accountant opens a qbx file. When these are sent for review it becomes an accountant copy.

QBY

File type: Accountant’s Copy Import file

.qby extensions are QuickBooks file formats created after an accountant opens, reviews, and alters the qba file. You can import these and apply changes to your company file (qbw).

QBJ

File type: General Journal Entries file

If you want to add journal entries created by your accountant, you need a General Journal Entries file. To locate this QuickBooks data, look for the .qbj file extension.

Utility Files

IIF

File type: Intuit Interchange Format file

An IIF file is an export file created when your data leaves the accounting software. Whenever you export your list info, QB assigns it an .iif extension.

ND

File type: Network Data file

If you start applying the Multi-user mode, the system will create a .nd file format. This is a configuration file that helps QuickBooks manage your user access settings.

TLG

File type: Transaction Log file

Every time you back up a file, the platform keeps track of changes to the file. The data is saved with a .tlg extension. The next time you back up the file, QB resets the data. If an error is made, you can look at the transaction logs and reset them.

LOG

File type: Event Log file

QuickBooks records important events in the system with a .log file extension. There are two types of log files:

• QWC.log – This records web connect files and errors
• Qbwin.log – This record issues in the file menu found during rebuild

Log files are the main types used for troubleshooting.

ECML

File type: Entitlement file

When you register and install QuickBooks, it creates a file with an .ecml extension. This extension tells QuickBooks Support you are using a licensed product.

QBP

File type: QuickBooks Print file

When you set printing preferences, they are saved in a file with a .qbp file. QuickBooks will auto-save your settings. However, if you run into printer problems, you may need to make changes to the file.

QuickBooks Files for Mac

QB2016

File type: Company file

For a QuickBooks accountant that uses a Mac, this is the company file extension for the 2016 version.

QB2019

File type: Company file

This is the company file extension for the 2019 version of QuickBooks Pro for Mac.

MAC.QBB

File type: Backup file

These QuickBooks file formats are used when you move your Mac files to QuickBooks Desktop for Windows.

DMG

File type: Apple Disk Image file

This extension is the backup for the QB company file. It is saved as an Apple disk image.

plist

File type: Apple Property List file

This stores your preferences and registration data.

Why Use QuickBooks File Extensions?

QuickBooks doesn’t deal with extensions for excel, CSV files, pdf, or text files. The brand has created its own lexicon. Different types of file extensions have different characteristics that serve various purposes. Some reasons for this include:

• It becomes easier to determine what a file contains by looking at the extension. Everything is identifiable.
• Users can categorize their data by file extension to prevent disorganization. It also makes for easier auditing.
• Once a file is recognized, it helps the desktop launch it in the right application.
• QuickBooks file extensions help users authenticate data files in a means to secure them.

Quickbooks For Desktop

There are over 50 QuickBooks file extension types but you don’t need to remember them all. This list contains what’s important to get started. Although it may feel like you are learning a new language, once you familiarize yourself with these extensions, it streamlines operations, creates a quicker workflow, and saves on time.