B R A D ' s ON L I N E R M E M O- - -
TO: Interested Onliners FROM: Brad Pendable - CPA
RE: Electronically posting ECCU data to your
QuickBooks Pro (QBs) Company file ORIGINATED: March 2008
When you Click Here you will find out about the need, via this overall system, to weekly go Online to your Checking/Savings Accounts at your Bank and obtain transaction data so that you can get details to your QuickBooks Pro (QBs) system. This whole process equally applies to any of your Credit Card transactions.
One of the reasons I recommend that you have at a remote relationship with ECCU (Evangelical Christian Credit Union) is that they provide you with the means to capture your individual transactions per their records and "Electronically" move/post the bulk of your needed data to the QBs software on your computer. This process includes at least the following steps:
01> You go Online and access the ECCU Banking/Savings Accounts (Not sure about Credit Card transactions via ECCU at this time) so you can:
-- Choose the QBs (QuickBooks) format as you capture line item data appearing
-- Within your Bank Statement and
-- Ultimately produce a "QBs Import/Export File" via the *****.iif format.02> You save this "QBs Import/Export File" to your Computer's desktop
03> You open your QBs Company file and go to: File: Utilities: Import
04> From this source, you select the saved "QBs Import/Export File" from your Computer's desktop and do your Importing
05> The result is the electronic placement of this "QBs Import/Export File" content within your QBs Company as transactions to "Uncategorized" or "Checking" accounts as shown per your QBs Company "Chart of Accounts". You may need to change the name of your QBs Bank Account to "Checking Account" to facilitate this.
06> Then you appropriately assign these transactions per your QBs Company "Chart of Accounts" structure and clean out the QBs Company's "Uncategorized" account via the "edit" process that includes:-- Working from data within the Bank/Savings accounts of your QBs Company
-- Obtain complete data from your retained internal copy of receipt and check/disbursement paperwork and
-- Reclassify from "Uncategorized" to one or more of your distribution accounts within your QBs "Chart of Accounts"
-- If a check transaction -- you include the proper payee detail as shown per your updated QBs Company database07> There may be other transactions within your "Checking Account"resulting from this importing process that need attention.
08> The final result of this process is that you have:-- Zeroed out your QBs Company "Unclassified" account and
-- Cleaned up any of such transactions within your QBs Company "Bank/Savings" accounts and
-- Made sure that the QBs Company "Bank/Savings" balances and the ECCU "Bank/Savings" balances agree ---NO NEED FOR THE USUAL BANK RECONCILIATION PROCESS !!!!
-- and finally deleted the "QB Import/Export File" on your desktop since it has served its purpose.Be sure and let me know if you have any questions about any of this.
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UPDATED LAST: February 21, 2009
Fresno, California
Please contact CPA Brad Pendable by Email at Brad@rpfin.org| OUR PURPOSE | WHY "NEST OF BEES" | WHO WE ASSIST | ASSISTANCE EMPHASIS | ASSISTANCE SPECIFICS | INFO ABOUT BRAD