How to Import Time & Expenses to Quickbooks Softwareby David Roberts
Importing transactions such as time and expenses into QuickBooks involves the use of third party software. For importing time data, Intuit recommends the use of the XL Timesheets for QuickBooks. For importing expenses you have the option of converting the expenses to .IIF files or the IIF Transaction Creator third party software solution. You may use this option when you want to keep employees away from the sensitive financial information in your bookkeeping. The employees will simply enter the data into an Excel spreadsheet or into the .IIF file to be imported into QuickBooks later.
Importing Time into QuickBooks
Download the XL Timesheets for QuickBooks. XL Timesheets is a third party software package recommended by Intuit for use in importing time sheets into QuickBooks from Excel spreadsheets and other time clock software packages. This tool converts time sheets to .IIF files, which are QuickBooks compatible files. The download will allow you to use a free trial for a limited number of time records.
Purchase the XL Timesheets registration key. As of October of 2010, the purchase price was $49. When you are ready to create a new time sheet for import into QuickBooks, double click on the XL Timesheets icon on your desktop.
Enter the names of each employee you will be creating a time sheet for in the "Add employees" option. Since the contact and tax information is already in the QuickBooks software, all you need are the names of the employees in the XL TImesheets program. Click "OK" to save the list of employees you have entered and then begin creating the time sheet.
Create new time sheet. The first window that will open in this program will be the "Create new time sheets" window. On the left side of the screen is the list of employees you have just created. On the right side are boxes to fill in the details of each time sheet including choosing the template you wish to use, the number of days on the time sheet with the ending date. In the "Rows available for time entry," choose the option that is one day more than the number of days the employees worked. For example, if the period is seven days long, choose the number eight. If the period is 14 days long, choose the number 15.
Click the "Columns" tab. It is here you can include additional columns on the new time sheet. Additional columns include "Service Items," "Payroll Items," "Customers," "Billable Status," "Class," and "Notes." Click the "Pick Lists" tab. Examine the boxes and if there are any that are not checked, click in that box to put a check-mark in it. When done, click the "Create Timesheets" button.
Enter all data into the time sheet for each employee. Save the spreadsheet on your desktop and open the QuickBooks program. Click on the "File" button in the top menu bar and scroll down to the "Utilities" option. When the side menu opens, choose the "IIF Files" option and follow the prompts to import the data into QuickBooks.
Importing Expenses into QuickBooks
Download the IIF Transaction Creator. This download will need to be unzipped and installed on your computer. The download will give you a free trial mode for up to 100 transactions. Follow the prompts using the easy wizard guide to set up the program on your computer.
Examine the "Template Workbooks" that are available. Each transaction uses a different template. Choose the template you wish to use in the free trial. Enter each transaction using the template you have chosen and save the template to your desktop.
Click the "File" button in the top menu bar and scroll down to the "Utilities" option. When the side menu opens, choose the "Import" option and then "IIF files." Locate the saved template on your desktop and click "OK." The transactions or expenses in that template will be imported into QuickBooks.
Purchase the product registration key. As of October of 2010, the purchase price was $89. If the free trial gives you what you need, purchase the key and the restrictions of the free trial will be removed.
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