We will start first with the chart of accounts. Chart of Accounts. The chart of accounts is a list of asset, liability, equity, income, and expense accounts to which you assign your daily transactions. This list is one of the most important lists you will use in QuickBooks; it helps you keep your financial information organized.
If this is your first look at the new you’re likely to think it represents little more than a change of paint on an app that is substantially the same as its predecessor. While that’s not entirely true, it’s also not too far from wrong. But QuickBooks’ new paint job isn’t the only thing that’s changed about the app. QuickBooks for Mac offers a number of small new improvements that should help enhance the application’s value and give you a better clue as to how your business is doing. QuickBooks for Mac's new income tracker provides an excellent overview of your business' financial health.
I know the question you’re going to ask first and the answer is, “no.” There is no file level compatibility between the Mac and Windows versions of QuickBooks and, after asking this question of Intuit for more years than I care to count, I’ll be surprised if the answer will ever be, “yes.” That said, Intuit has made it easier to send data to and update data from your accountant. Earlier versions of the app required that you use QuickBooks’ Roundtrip feature to create a backup of your Mac data file that could be restored in the Windows version of QuickBooks.
Unfortunately, while your accountant worked on your file you couldn’t make any changes to the data on your Mac. Now QuickBooks for Mac allows you to import journal entries, which is essentially the debit and credit information for every transaction you create. This lets your accountant make changes to your data while you continue using QuickBooks. When your accountant is done updating your data you simply import the journal information.
While this new feature makes having your accountant update your company data far less onerous than the roundtrip method, finding information on how to perform the task was challenging and, in the end, requires that your accountant own a copy of QuickBooks for Accounts. QuickBooks for Mac’s Home Page is a flowchart interface that has been around for some time now. While it has a new, lighter color, the tools it offers are exactly the same as what you’ll find in the last few versions of the app. But there is now a new Snapshot feature that is part of the Home Page that I found to be quite useful. The Snapshot aggregates all your company information in a single view, giving you a clear overview of your business’ current financial health. A small, colored header at the top of the Snapshot displays a list of your current open estimates, un-billed time, open invoices, overdue invoices, and info on invoices that have been paid in the last 90 days.
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Below this bar appear graphs and other detail information about your account balances, income and expense breakdowns, accounts payable and year-over-year income and expenses comparisons. Double-click any Snapshot item and you drill down into the data driving the information you see. Some text in some of QuickBooks for Mac's graphs isn't as clear as it should be.
While I found the Snapshot extremely useful—I often find myself using QuickBooks Online’s version of the same feature—I’m not happy with some of the design decisions made for the tool. For example, because of small text size and a mottled background, text used in the graphs appears to be blurred. One other new feature I found useful in QuickBooks for Mac is a tool called Set Up and Go, which provides helpful video overviews of how to get started with QuickBooks’ most-used features. Bottom line As has been the case for the last several years, there’s not too much that’s too different about the latest version of QuickBooks for Mac, which isn’t necessarily a bad thing. QuickBooks remains a solid business accounting application that will help you keep an eye on your business.
Nope, there’s still no cross platform compatibility with the Windows version of the app, so if that’s something you need you’ll need to look elsewhere for your accounting needs. Otherwise, QuickBooks for Mac 2014 should help your business stay on solid financial ground.
To QB: Convert transactions to a format importable by QuickBooks video. To QB: Convert transactions to a format importable by QuickBooks video QuickBooks accounting software is offered as QuickBooks Desktop (QBD) or QuickBooks Online. Both variants import the QBO format as a common format, and each of them imports their set of formats. See below options and Desktop and Online versions. Import into QuickBooks 2016-2019 and Quickbooks Online through the QBO format or the IIF format (all QuickBooks Desktop versions are supported). QBO and IIF format are different: QBO (Web Connect) is to import bank transactions, and IIF is more ‘low level’ import allowing to create various transactions between QuickBooks accounts.
Both formats have limitations – read below to choose the most suitable format for you. Which formats does Quickbooks import?. QuickBooks 2016-2019 for desktop, Windows or Mac, imports QBO (Web Connect), IIF and QBJ formats. Quickbooks desktop all versions import the IIF format. Quickbooks Online imports QBO, CSV, OFX, QFX formats. Quickbooks 2013 or older imports QBJ (General Journal Entry files), created by your accountant or through Import into QuickBooks through the QBO format The QBO format is a QuickBooks Web Connect format used to import transactions into QuickBooks. '.QBO' does not mean 'QuickBooks online'.
Use to convert CSV, Excel (XLS, XLSX), TXT to QBO. Use to convert PDF to QBO. Use to convert OFX, QFX, QBO, QIF, QBX, OFX, PDF to QBO. Use to convert OFX to QBO. Use to convert QIF to QBO QuickBooks Desktop (PC or Mac) imports QBO files through File-Utilities-Import-Web Connect format.
QuickBooks Online imports QBO files as well and the QBO format is the best format it imports. QuickBooks online also imports OFX and QFX files (also good choice to import).
OFX and QFX formats are not importable by QuickBooks desktop. Quickbooks Online (including Quickbooks Self-Employed) imports CSV files. QuickBooks desktop imports QBO (Web Connect) files into the Bank Feeds center. Once the transactions are imported, you review them and match to vendor records and assign expense/income account. After that, the transactions are added to the register.
QuickBooks Desktop has to be not older than three years to import.QBO files. For this moment, you need to have QuickBooks 2016-2019 to import QBO files. Import into QuickBooks through the IIF format IIF format is the format to use for all QuickBooks versions.
It allows to supply more details about transactions like expense/income account or class. Unlike the QBO format, that requires 'matching' under the Bank Feeds after QBO import, the IIF format requires vendor names, account names to be exact to what you have in Quickbooks otherwise Quickbooks will create new vendor and account records during IIF import. Quickbooks Online does not import IIF files. Use to convert CSV, Excel (XLS, XLSX), TXT to QFX and import into Quickbooks. Use to convert OFX, QFX, QBO, QIF, PDF to IIF What are the main differences between QBO and IIF import into QuickBooks?. QBO import requires Internet connection with QuickBooks allowed to access Internet, IIF import is completely offline.
QBO import allows to apply renaming rules to assign payee or vendor even if it is different on supplied QBO file from the record in QuickBooks, and assign the expense account during import. IIF must have expense accounts supplied as you have them in QuickBooks. Allows to do that through the category column or provide default expense account.
Imported QBO transactions go first into the Online Banking Center, where you can review, delete, match and finally include into the register. QuickBooks provides two Online Banking Center modes, completely be their user interface and actually how transactions are imported.
IIF import is done directly into QuickBooks transaction register. QBO import requires QuickBooks to be no older than three years. IIF keeps importing without asking you to upgrade. QuickBooks Online imports QBO files only, QuickBooks Online does not import IIF files.
What is the QBJ format? The QBJ format is the latest format supported by Quickbooks to create General Journal Entries. Quickbooks accountant edition allows your accountant to create general journal entries for you, export them as IIF files, send to you and you import them into your Quickbooks. How is the QBJ format different from QBO and IIF formats? The QBJ format is for General Journal Entries. QBO and IIF files are for transactions.
QBJ files can have one or more general journal entries. Each entry is for a specific date. Entry lines belinging to the same entry have the same date.
Each entry line is either debit or credit. Each entry balances within itself (total debit amount equals total credit amount for all lines) allows you to create general journal entries in Excel and then convert to QBJ and import into Quickbooks. Working in Excel with general journal entries is faster that directly in Quickbooks. In addition, importing QBJ files creates audit record in your Quickbooks, so you can review easily created entries.
Import into QuickBooks Desktop QuickBooks Desktop imports QBO, IIF, QBJ files. If your QuickBooks version is older than three years, use the IIF format. If you have QuickBooks 2013 or later, you may also use QBJ format. QuickBooks Online imports QBO, QFX, OFX, CSV (limited) files. Import as the QBO (Web Connect) format Your QuickBooks version must not be older than three years to import QBO files. QBO (Web Connect) files are imported under Bank Feeds in QuickBooks where they are matched to vendor records and assigned expense/income accounts.
QBO files do not carry expense/income accounts (categories) as the categorization is done after import in QuickBooks. Convert CSV/Excel/TXT files to the QBO (Web Connect) format:.
Convert PDF files (text based) to the QBO (Web Connect) format:. Convert PDF files (text based) to CSV/Excel: and use with to create QBO files from CSV/Excel file you can edit. Convert QIF files to the QBO format:. Convert OFX files to the QBO format:. Convert QFX/QIF/OFX files to the QBO format or correct an incorrect QBO file: Import as the IIF format The IIF format is considered 'low level' or 'system' format and QuickBooks imports it right into its database, so you have to be precise with the data you provide.
Typos and mismatches will result in new vendor records and accounts created. Always do backup (as with any other import) for QuickBooks company file before any IIF import. Putting aside the scary part, this is great format widely used and you can import data quickly. IF you just figuring out QuickBooks, start with the QBO format (see above). CSV files must have exact vendor names and category (expense/income) account names matching account names in QuickBooks. All QuickBooks versions are supported as long as they import IIF files (except QuickBooks Online). For QuickBooks Enterprise the user must have exclusive access to import IIF files.
Convert CSV/Excel/TXT files to the IIF format:. Convert PDF files (text based) to CSV/Excel: and use editable CSV file with to create an IIF file.
Convert QFX/QBO/QIF/OFX files to the IIF format: Import into QuickBooks as the QBJ (General Journal Entry) QBJ is general journal entry format. This converter is different from other converters.
You have to use special Excel template and provide all account details. Convert CSV/Excel files to the QBJ (General Journal Entry) format: Import into QuickBooks Online (QBO) QuickBooks Online imports QBO, QFX, OFX, CSV files.
Categorization is done after import in QuickBooks Online. CSV files have a limited support and have to follow expected layout.
Use converters below to create importable CSV/QBO files from your Excel/PDF files. Import a PDF file with transactions to QuickBooks To import a PDF file to QuickBooks, use (PDF to QBO Converter) or that converts PDF and other formats like QIF, QFX, OFX, QBO. Reads your PDF bank or credit card statement, finds transactions there, shows them for your review and creates a QBO (web connect) file ready to import into QuickBooks Desktop or QuickBooks online. QuickBooks desktop has to be not older than three years old to import QBO (web Connect) files. For the current year, QuickBooks 2016-2019 import QBO files.
Older QuickBooks import IIF files only. You can use to convert PDF files to IIF and import as IIF.
PDF files have to be text-based (you can select text when you open a PDF file in a PDF viewer or browser. Reads PDF files, find transactions there and converts them to a QBO file. Cleans the description to be used for payee and keep full description as bank memo. QBO files are Web connect files and they are imported in QuickBooks under the Bank Feeds Center. Under the Bank Feeds center, once imported, transactions are matched to vendor records and assigned expense/income accounts and then added to the register. Convert and import PayPal files into QuickBooks Export PayPal CSV files Do not use QIF files to import from PayPal - use CSV files.
Mapping for Net, Gross, Fee QBO files do not support splits, but can create separate transactions for splits. Understands your PayPal CSV export and maps splits automatically. Transactions with splits Use to convert CSV PayPal files to IIF file with splits. Maps PayPal splits automatically. Related artciles.