Set default accounts when paying bills or writing for better organization of data. By organizing your data properly, you can make it easier for yourself to search through it.
Further, you will know which filters to use when working with that particular type of data. There are many forms present in QuickBooks such as invoices, bills and so on. We will look at some of these in this article and set default accounts for them.
Linking up a Default Account with QuickBooks
In QuickBooks, you have the option to link your bank account in order to sync data. Further, you will be able to complete transactions directly from the accounting software after the bank account has been properly connected.
There are a few other perks that you get when integrating bank account, some of which have been mentioned later in this article.
To Connect your Bank Account to QuickBooks, Follow the Steps Provided Below:
- Log into QuickBooks.
- Go to the Homepage.
- Click on Bank Accounts.
- Click on Connect an Account.
- Select the preferred Bank.
- Bank login page will open. Enter authentication details correctly.
- Select type of account you want to link.
Once the bank account has been linked, all transactions from current date to the last 90 days will be synced with QuickBooks. QuickBooks will automatically categorize all newly entered transactions. To categorize the previous transactions that are being synced with QuickBooks, follow the steps provided below:
- Select Account that you want to sync data.
- Select category for all transactions on the bank and credit card page.
- After sorting and categorizing data, click on Add. This will save the transaction to QuickBooks. Repeat this for all transactions.
Once all transactions have been thoroughly categorized, you can use the data to run reports and get insights into your spending patterns. For creating reports, you can go to the Reports menu.
Select Profit and Loss report. Select the financial period for which you want to generate the report. You can view the reports directly from the report’s menu. You get a graphical representation as well as tabular representation of the finding.
Reports are summarized as well as explained in detail via the data used for creating it.
RepairContact QuickBooks Technical Support Team
At RepairContact, our QuickBooks tech support help team can set default accounts for you in QuickBooks. Further, QuickBooks technical assistance team will help you in categorizing data that will be imported from the bank account. To know more, feel free to contact our QuickBooks helpline ✆+1-800-272-4169(Toll Free).
See Also Set Default Billable Non-Billable
- I cannot sign into the bank account despite proper authentication?
We recommend that you wait for the website of your bank to go back up. If the website of the bank is in maintenance, you will not be able to log in even via QuickBooks. Try logging in again after 3-4 hours.
- I imported data but it has not been categorized and organized?
For the first time, users have to organize the data themselves. Subsequent transactions will automatically be organized and categorized properly.