In a nutshell, if you have a PDF bank statement from your bank or downloaded a CSV file and would like to import it into QuickBooks using Bank Feeds (Online Banking), this is an article you may want to pay attention to.
Note: if your bank transaction data is in an EXCEL file, this will work as well.
Here is a video that explain how the converter software works (video is from 2018, but 100% relevant to 2020):
You must own a copy of 2qbo Convert Pro+, or BOTH: PDF2CSV & CSV2QBO by MoneyThumb to do this exact same exercise. Alternatively, you can buy 2qbo Convert and skip STEP 2.
First, for illustration purposes, this is what my PDF bank statement looks like:
Step 1, convert your original Bank Statement PDF onto a CSV (Excel File), it is important to mention that SCANNED bank statements do not count. Launch PDF2CSV and load the bank statement:
When the conversion is completed, you will get a log previewing the work that was done:
You will immediately see a .CSV file with the same name as the PDF on the same location in your computer:
Step 2, you can open it in EXCEL and make any changes you want, maybe you can rename some vendors or concatenate the Description and Memo fields, if you are skilled in excel you know what i mean… otherwise, you can leave the file as is and proceed to convert to .QBO (Please note if you are NOT going to make changes in EXCEL, then just get 2qbo Convert and skip this step)
Step 3, lets setup the Bank Account Info in CSV2QBO to let QuickBooks know what type of export this .QBO file will be:
Step 4, You must select the correct Bank (FI ID) and input the routing/account information which is essential for QuickBooks to know which Bank account will the transactions be set to Bank Feed:
Step 5, lets preview the data before converting:
And see how each column will be mapped, it is your job to make sure these are mapped correctly:
Step 6, LASTLY, finish the conversion and 2qbo Convert will create a .QBO file in the same folder where the PDF/CSV was in, and now you can import it as “Web Connect” in QuickBooks…
And enjoy a world with LESS data entry!
For more information, you can buy this app for $349 at 2qbo Convert Pro
Consider partnering with us, to help you get your PDF Statements or Excel/CSV files converted into QuickBooks if you got large projects, this is our area of expertise.
Hector Garcia, CPA
Excel to QuickBooks Data Importing Specialist
I’m a small business owner and this article helped me decide to try the moneythumb pdf to quickbooks converter. It’s been hard finding the info I need online so I’m glad I came across your site. Thank you.
Good for learning
super helpful. mahalo!!