The short video (below) will show you step-by-step instructions on how to import credit card transactions from Excel CSV file into QBO so that you will not import transactions the wrong way.
Confusion has to do with bank account field and Quickbooks field screen. It is the same field name for bank download as well credit card download. Users are importing a CSV file from credit card company and every transaction ended up being the opposite of what it should be…. expenses listed as credits (spent), credits listed as expenses (received).
Once you have downloaded transactions, there is no way to UNDO or delete downloaded transactions. You will have to move to “EXCLUDED” column and it will stay there forever which is not good.
So, I highly encourage you to watch the entire video. You do not want to miss a step.
Bank rules are great for controlling how incoming bank transactions are categorized before you accept them into QuickBooks. Rules save time and minimize typing mistakes!
This article explains how to import and export rules, which is convenient if you manage multiple companies (like accountants often do).
Unfortunately, there is no way to delete downloaded banking transactions in new QuickBooks Online.
Since you cannot delete downloaded transactions, you will have to move all unwanted downloaded transactions to “Excluded” column.
Select the transactions (you like to delete) and then use the “Exclude Selected” option under Batch Actions. It will move from “New Transactions” column to “Excluded” column.
QBO developers claim, it will sit there forever harmlessly, but I do not buy it.
If you feel this “delete” feature need to be added in future revision, please add your voice here. I’ve already done it in this past.