Transaction Pro Blog

Credit Card Data Import with QuickBooks Desktop

Are you struggling to get company credit card data into QuickBooks Desktop? Whether you need to import your monthly credit card statement or an employee-submitted expense report for company credit card activity, Transaction Pro can make the process quick and easy with a Credit Card Statement import. This type of import can handle both the Credit Card Charges and Credit Card Credits at the same time.

Before importing, Credit Card Charge amounts must be listed as negative amounts, Credit Card Credits must be listed as positive amounts, and be sure to review the vendor names. Then, import the data in either Excel or CSV format.

If you record all your Credit Card transactions under a single vendor name, the vendor names that appear in the import file may or may not need to be updated prior to importing. The single vendor name can be entered as a static value for the import in the Transaction Pro mapping. However, if each expense transaction is imported to the specific vendor name of the transaction, you will want to review the names to ensure that they match to the names that you already have in QuickBooks.

For example, you may have Walmart set up as a vendor in your importing file. However, on the import file, it may be Walmart Store # 1234. Unless you want a separate vendor for each Walmart store, you will want to update the vendor name to match QuickBooks as Walmart. There is also an option to automate these types of updates while importing with Transaction Pro by using the Alias Option. You can read more about the Alias Option in our Knowledge Base.

Any data that is not in your import file, such as the Credit Card General Ledger Account, can be entered into the Importer mapping as a static value. The static value column on the mapping window can also be used for some formulas. With a Credit Card Statement import, it might be useful to use the Transaction Pro concatenate formula to combine two or more columns of info together for the Memo field. Learn about this formula in our Knowledge Base article Use the Static Value / Formula Column.

If you want to end manual data entry and begin saving time by importing both Credit Card Charges and Credit Card Credits in a single import, check out our YouTube Video on this topic for a full demonstration of the process. If you have any questions about this or other Transaction Pro topics, please contact support at support@transactionpro.com.