 The other way we can go to the bank feeds is hit the plus button and go into the banking up top. This is in the accounting view where it was in the bookkeeping under the business view and we don't have the bank feeds set up so this is the same if I go to the other view sorry for switching back and forth all the time. This is you know like the transactions tab up here where you have the bank feeds however the bank feeds have already been set up in the business view so in the accounting view it's under the banking and here's our options that we saw in a prior presentation we can either connect directly to the bank pulling the information directly into the bank but we're going to upload the transactions which might be useful for a couple reasons you might be able to get further back in the transactions and in a practice problem that might be a nice way to go so that you could download the data and if you wanted to create your own practice file then you can use this method as well so we're going to upload transactions that we downloaded from the bank notice all the different formats it's really nice the QuickBooks online has all these different formats that can be used a .csv file the qbo file will be the default that you're going to want to use that should have the least amount of issues but if you want to create your own csv file possibly from excel that you convert to a csv to practice with that's a really great tool to be able to do and you can't do that quite as easily with a qbo file. Last time we downloaded some information from the bank this is the qbio type of file it looks kind of like a QuickBooks desktop symbol but it's actually a data file that we we saw last time if i right click on it just to check it out one more time and we look at the properties of it you can see it says it's a it's a .qbio it's an ofx data file or whatever and this is a this was the csv file that opens in excel but it's actually a comma slice to kind of file so we're going to use this one that should be the easiest one to do you're going to have to download your own data or create your own data to follow along with the practice problem so let's go back on over in sarin let's upload this select the file and then we're going to go to the desktop mine is on the desktop with a bunch of junk all over the place i think that's it there we go let's upload it so there it is and continue so we will continue which account are these transactions from so then it's going to give you the information for the account that it's from on the left hand side and then we're going to add QuickBooks account now i could select the cash account if i had already set up the cash account i noticed it's a bank type of account but i'm going to try to use that as the parent account and see if i can add another account as we go which will be the checking account so i'm going to go add i'm going to say that we have a new account it's going to be a bank type of account that's that's what it has to be or possibly a credit card generally and then we're going to go say it's going to be cash on hand i'll say this is a checking account and then i'll put checking and then you might want to put the last four digits of like the account number or something like that i'm just making up last four digits because you might want to put the name of the institution possibly and the last four digits of the number because if you have multiple accounts that will help you to distinguish them if you don't have multiple accounts maybe you just call it checking and that's it so that you don't have this other stuff in your financial statements that that'll kind of make it a little bit more difficult to generate reports but if you have multiple accounts and it's not as clear as to which account you're dealing with then you might want to distinguish them by naming the institution you might have multiple accounts at the same institution in which case you might want to put the last four digits of the account number which you don't really want to report externally but if we put them up as a sub account then we can we can collapse the account for external reporting for our financials if we need to do that so i'm going to hit the sub account and i'm going to put it under the cash account here so it's going to be under cash in its own kind of checking account area so then it says when do you want to start tracking your finances from this account in QuickBooks now this is going to be critical when you're setting up your account to try to make sure that you're not duplicating information or that you're not missing information as you pull it in and there could be some limitations in how far back you can go depending on the institution but i'm getting this directly from the stuff that i uploaded and i believe it was like for the last three months of last year so i can hit the drop-down say beginning this year beginning this month today or other i'm going to go other for my selection and i'm going to check off when my data kind of file starts with it which i think was uh september september october november i think it was september that it starts from so what was your account balance on uh 8 3122 now note that if you're starting to pull the bank feeds in then you could set basically what your beginning balance was before that point in time and that'll help you to kind of put in the beginning balance but note that when you do that when you put a beginning balance in place it's going to record a transaction generally which is which is going to be like cash goes up and the other side goes to like opening balance equity or something so you got to be careful with that oftentimes like if you're starting a new business from scratch then you might have already had the checking account in place you only want to pull in bank feeds to some degree to some date and then you want to put the beginning balance from prior to that point in time now it's useful it's nice if you're able to get like a whole years of data in one year you know if you could pull it in one way but so that's like that beginning balance issue that you that you could that you could have the other the other way you can kind of deal with that is when you go into the bank reconciliation we'll talk a little bit more about it at that point we have this beginning balance issue and and it'll come to light when you try to when you try to reconcile so I'm not going to put a beginning balance here I'm going to just put it at zero for now and then we'll talk more about that when we get into like the bank bank reconciliation type of area and before I finish this I think my data actually goes back to August so I'm going to go August first so mine's going to go from August first because I think that's just when my data set goes to you can use whatever you know data set is appropriate for the data set that you are using that you can pull from your financial institution or you can create it if you want using excel and saving as a CSV file all right so then I'm going to I'm going to save and close that and then which account are these so now I've got my account set up so that looks good so I'm going to say continue and import complete next step accept your transactions you're in control of how your bank info goes into quickbooks transactions only show up in your books after review and accept them in other words I would interpret that as saying it's going to put the information into what I would call bank feed limbo which is this information here so I'm going to close this out your bank connection is all set let's review and add transactions to your books check out these tools to get you off to a great start so you can take a look at these if you so choose get an overview take a guided tour so I'm going to close that up so now we have our tab here this tab up top represents the the uh connection that has been made we'll add some other ones we'll do it like a like a credit card account as well and maybe we'll we'll even do a PayPal account