Wednesday, August 28, 2013

Using Batch Entry for Quicker Client Setup

There are many things to love and to hate about the batch entry feature that came out in QuickBooks Accountant 2013. Many of us have probably experiences the frustration of posting transactions to the wrong account or wanting to reclassify transactions that were entered on a batch. I have found batch entry, in it's current state, to be the most helpful in new client setup.

Transferring data into QuickBooks for an existing company can flat out SUCK. If you are like me, you have much more desirable things to do with your time besides enter data from a spreadsheet. Something that I discovered this week was how EASY setting up new companies can be when you utilize batch entry to trick QuickBooks.

Here is my real-life example:

New corporation. Current accounting was through Freshbooks and Outright, information had been recorded in both systems. Converting to QuickBooks Online.

Compile information from both systems into QBA 2013, iron out issues, export to QBO.


  • Export expense reports and income reports from Freshbooks and Outright. The spreadsheets that these system generate are PERFECT for batch entry into QuickBooks.
  • Create shareholder equity accounts as 'BANK' type accounts. The batch entry feature will only allow you to post to bank and credit card account types. But don't worry, we will work around that ;-)
  • Record the expenses incurred/deposited to mish mash accounts prior to business account being opened/during the development of the business. If income generated has been received by the owners, be sure to record it as 'deposits' to the account that you are posting to.
  • Batch enter to the 'equity' bank accounts (make sure you have the right account name selected!)
  • Once you have the transactions recorded, go to the chart of accounts and change the equity account type from 'bank' to 'equity' (or 'liability' if you are setting up as a shareholder loan)
Are you confused yet? I sure am! Writing this out is a whole lot crazier than clicking around and making it happen...

Moral of the story is that you can really beat the batch entry into submission to get a high volume of opening transactions on to the books. These are good tools to have up your sleeve as year-end approached and people start rolling in with their 'records'....

Good Luck!

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To kick off our blog debut, we will be sharing some helpful QuickBooks batch entry work-arounds that we have discovered when setting up new companies. 

Stay tuned!