QuickBooks’ enhanced features make your things much easier in terms of enhancing business productivity. Apart from that, it is integrated with a variety of applications to improve precision and yield the best results. Payroll is one of the well-integrated apps for keeping track of all accountancy programs related to your bank accounts and other business expenses as well.
However, in order to keep track of all systems in one location, many businesses or users looking to Import Payroll Data into QuickBooks. You can import various list and transaction types to and from QB using different file formats. This blog covers all you need to know about how to import payroll data into QuickBooks from Excel.
Things to keep in mind when you import data
- You should make a backup because you can’t undo information you import.
- You must create and deliver the employee direct deposit paychecks separately from the vendor direct deposit paychecks.
- Create and send direct deposit paychecks in the same company file.
- If you send paychecks to a different company file, you may have a data loss problem.
- After you’ve finished creating the paychecks, Intuit recommends switching to single-user mode before sending. It makes it easier to manage the payroll processing.
To back up your QuickBooks, take the following steps:
- Log in to QuickBooks in single-user mode. If you’re already logged in, switch to single-user mode in the File menu
- Select the Back Up Company option under the File menu
- Select Create Local Backup and choose Local Backup
- Click Options and select where you want to store your backup. It’s best to store it on an external hard drive or online
- Click the OK button and then click the Next button
- Choose the Save It Now option and click the Finish button to begin the backup process.
Import Payroll data into QuickBooks from Excel in 2 ways
There are several options available for importing Payroll data from an Excel spreadsheet into QuickBooks:
Option 1: Standard import
In this, QuickBooks opens a formatted Excel spreadsheet where you can enter your information. You can review results and view data in QB once you save and close the file.
- Go to the File menu and select “Utilities” >>> “Import” >>> “Excel Files”
- Next, click “No” when you get the “Add/Edit Multiple List Entries” window
- Implement the wizard in importing files
- Choose the type of data
- Again, QuickBooks opens a formatted excel spreadsheet. Save and close the file once you have successfully entered your information
- After that, select the option “Add My Data Now”
- Review the results and then view Data in QuickBooks
- At last, select the “Close” tab once you’re done.
Steps to import Chart of Accounts
- Move to the Lists menu and then select the tab “Chart of Accounts”
- From drop-down list, select the “Account” and then choose the option “Import from Excel”
- Browse to select the Excel file that you want to import
- After that, choose the file and then select the “Open” option
- Now, select the Excel spreadsheet where the data you want to import is on
- Map the accounts
- When you map your accounts, QuickBooks will know how to import the data from your Excel sheet. You’ll need to match the column headings in QuickBooks to those in Excel
- Type in a mapping name
- As a Import type, select the “Account” option
- Match the information under QuickBooks with the column headings in your Excel sheet
- Select the “Save” tab
- In the end, select “Import”, if it’s your first time to import, select the “Yes” button in order to confirm the process.
Option 2: Advanced Import
You can import not just your employees’ payroll data, but also a list of your clients, suppliers, and any other payroll-related information. QuickBooks makes it simple to import whatever data you wish to keep track of. However, the procedure will vary depending on the type of import.
Before you may import anything, you must first complete a set of conditions. These specifications should be included in your excel spreadsheet so that the content in QuickBooks is more valuable and readable. The sample file report shows the requirements that would be expected of you.
You can also review your information by downloading the sample data
- First, login to your QuickBooks and then go to the Settings
- Look for the import data tab or select it from the drop-down list
- Choose the file type (Excel) and then click on the download sample
- Open the file after downloading the sample file
- Also, open the file along with the Excel sheet that you maintained the data in
- At last, copy and paste your data in appropriate columns within the sample file that you downloaded.
Steps to be followed to import the Payroll data into QuickBooks from Excel
- In the beginning, go to your QuickBooks menu and select the tab “Employees”
- Next, click on the option called “Send Payroll Data”
- And a “Send/Receive Payroll Data will open on your computer screen
- Review the complete details once about the items in the send section
- After that, hit the tab “Send All”
- Finally, enter the Payroll Service Pin followed by “Ok” in order to end this import process.
Companies spend a lot of time and money trying to figure out why certain business trends and costs occur, and they’re always looking for new ways to use analytics and historical data to make better decisions in the present and future. When payroll data is excluded from the equation, a significant component of the issue is left unsolved. However, importing Payroll data from Excel into QuickBooks no longer allows this to happen. So, carefully implement the aforementioned steps to import your payroll data into QuickBooks.
Need Professional Help?
If you get stuck anywhere in the process, feel free to get in touch with Payroll.AccountingErrors Support Team.