This video is to show how to convert CSV file to IIF format and import into QuickBooks using CSV2IIF.
CSV file must have date, amount, payee, memo, check number, category (expenses/income account name).
When you convert for a single account (all transactions for the same bank account or credit card account). Enter the account name on the right sidebar.
Check the Transactions tab for how your CSV file is parsed - dates are expected (format is always YYYY-MM-DD to avoid confusion, the IIF file will have expected by QuickBooks date format).
If you downloaded a CSV file from your bank, it is most likely missing the category column as your bank does not know about your accounting setup, so you should add the category column to the CSV file (use Excel or other spreadsheet software) as IIF must have the second account for every transaction.
Click the Convert button to create an IIF file from your CSV file.
Before importing the IIF file, check the Chart of accounts that the account exists that you entered in CSV2IIF converter. For any missing vendor names or account names, QuickBooks will create missing records quietly during IIF import.
IIF format is considered low level or system level format, it means you provide data and QuickBooks just imports it, the same applies to the converter - it format the data you provide in the CSV/Excel to the IIF file.
Before you import any IIF file or any other file, make sure to make a backup of QuickBooks company file, so you can quickly go do back in case the import goes wrong.
To import an IIF file in QuickBooks, select File-Utilities-Import-IIF file and select the IIF file.
QuickBooks suggests to provide the transaction type as "general ledger" transaction type, and QuickBooks will select appropriate transaction type based on which accounts are involved which data is provided for the transaction, etc.
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