How to Import Credit Card Information Into QuickBooks
The QuickBooks Online Banking Center provides two options for importing credit card information into QuickBooks. Web Connect is a more indirect import method, by which you log onto the credit card company's website and manually import credit card information. Direct Connect is a direct connection between your credit card company and QuickBooks that allows for automatic import with no action required on your part. While the method QuickBooks uses depends on the credit card company, both methods occur from within the QuickBooks interface.
Things You'll Need
- QuickBooks Pro, Premier or Enterprise
- Credit card information
Check to see if your credit card company participates in QuickBooks Online Services. Select the "Banking" tab on the QuickBooks main menu, then "Online Banking" and then "Participating Financial Institutions." Look through the list for your credit card company. If you do not see the company, you will not be able to download credit card information into QuickBooks.
Review credit card company requirements for setting up online services. The easiest way to access and review information is to type "QuickBooks" into the search bar on the homepage of the website. While most companies follow the same general requirements, read instructions carefully for instructions specific to your credit card.
Apply for online services and receive a login ID and personal identification number (PIN) from your credit card company. QuickBooks requires these credentials to establish a connection to the company from within the software. Most credit card companies send credentials via postal mail within seven to 10 days after completing the application.
Set up a new credit card account in QuickBooks if you have not already established one. To set up a new credit card account, click the "Lists" tab on the QuickBooks main menu, select "Chart of Accounts," then select "New" to open the "Add New Account" window. Select "Credit Card" as the account type and fill in the credit card information to set up the account.
Set Up Account for Online Services
Access the credit card account you want to set up for online services from the "Banking" tab on the QuickBooks main menu. Select "Online Banking" and "Setup Account for Online Services," then select the account from the drop-down list to open the "Online Services" dialog box.
Fill in the log-in information using the credentials provided by your credit card provider, then click "Sign In." If you are connecting via Web Connect, QuickBooks will establish a connection that allows you access to the company website, where you can view transactions and provide instructions on how to import transactions manually into QuickBooks. If you are connecting via Direct Connect, QuickBooks will establish a connection and automatically import credit card transactions without requiring any action on your part. QuickBooks places imported transactions in a separate window underneath the credit card account register.
View and insert imported transactions. QuickBooks will display transactions as either "Matched" or "UnMatched." If QuickBooks detects a transaction already in your credit card register, it marks the transaction as "Matched" to prevent you from inserting a duplicate transaction. If QuickBooks does not "see" this transaction in your account register, an "UnMatched" tag alerts you to a transaction you should insert. Insert a transaction by selecting it and clicking the "Insert Traction" button.
Click "Finished" when you have examined all transactions to close the account register window.
Tips & Warnings
- If your credit card company does not support imports into QuickBooks, check the QuickBooks Market Place for third-party products that you can use.
- Some companies offer you the choice of either Web or Direct Connect, but charge a fee for Direct Connect. Read the agreement carefully before deciding on an import option.