You have already decided what you want to import and whether you would like to record it as a detail or a summary, so the next step is to choose how you want to ensure that QuickBooks is ready. Here is what you need to consider:
1. Vendor name: the name of the vendor where you made your purchases. We recommend using only one name (i.e. "Home Depot"), rather than each stores name and location (i.e. "Home Depot Neshaminy," "Home Depot Oxford Valley").
- What is the name of the vendor in QuickBooks?
- Do you have an existing name in QuickBooks? If you have already been entering your Home Depot charges into QuickBooks, then you should already have the name. Make sure you can find it under the "Vendor Center." If you cannot find the name, it is either under the "Customer Center" or "Other Name" list. Click on the link about how to find the name and what you should do about it.
- In case you cannot find the name and account, choose from the drop-down menu to create a new name, or activate the name. Then click "Refresh" to make your selection.
- Create a new Vendor Name in QuickBooks.
2. How are you going to enter the transaction in QuickBooks? What is the account associated with that specific transaction type?
- Transaction Type: Bill
Account Type: Accounts Payable
- Transaction Type: Check
Account Type: Bank
- Transaction Type: Credit Card Charge
Account Type: Credit Card