21 Oct 2017
QuickBooks provides users with the option to link their bank account. By linking their bank account with QB, users can avail perks such as automatic recording of transactions and deposits. Any data or transaction can be synced directly with QB. Also, users can configure these transactions manually for making their books more descriptive. Further, QB records that preferences for transaction categories and automatically records and organizes transactions after the first time.
Praise the Lord! You have successfully connected your bank account with QuickBooks. After this, QuickBooks will automatically import the transactions for the last 90 days. You can then classify these transactions and mention the categories each of them belongs to. After the first entry, QB will remember your preferences and automatically record and organize all the transactions that it syncs from your bank account.
You do not necessarily need to connect your bank account for importing transactions. You can download transactions in WebConnect format from your bank account. There is an upper cap on the number of days you can import the transactions for. Also, users will have to classify and organize the transactions manually.
For doing so, users need to follow the steps given below:
You can repeat the aforementioned steps for recording multiple deposits in QuickBooks.
Users often like to record security deposits separately. Security deposits include deposits like advanced rent. Basically, any amount received in advance for adjusting loss or damage is recorded as a security deposit. In QuickBooks, you don’t have any separate account that records security deposits. These deposits are often recorded as liabilities if are being received. Still, we can use the chart of accounts for creating a separate account that holds all of our security deposits.
Follow the steps provided below for recording security deposits in QuickBooks:
Add all security deposits to this account. Later, you can use this account for creating reports regarding security deposits. You can also use a filter for sorting and arranging these deposits.
Deleting a report is just as easy. You can create a Deposit Details Report for finding and deleting a particular deposit.
Hope you are able to sort your issue. If you still find any problem then do write to us in the comment section below.
Request a Call Back
Talk to our Quickbooks Proadvisor and resolve your issue over a phone call.
What is Qbpro?
We are a Quickbooks consulting firm that takes care of all the issues that people might ever face within the program. If you are using Quickbooks and are continuously faced with bugs then we are here to resolve. You can connect with us for errors related to Quickbooks, Technical issue or Accounting Issues within the software. Get in touch with us via:
Here is what people have to say about us.
Though we serve throughout the world but our clients majorly comes from Canada, USA, and the UK.
Disclaimer: QBpro.ca is a reputable QuickBooks® Consulting firm that provides professional support services related to your accounting software. It is also a front-runner in providing 3rd party technical support services for quickbooks.
Resolve your every issue on a
Free 30 minutes call
We hate SPAM and promise to keep your email address safe.
Get FREE 30 minutes, Resolve your issues now!