How to convert PDF to QBO (with steps and illustrations)

Companies usually use a third-party finance and accounting software program, reminiscent of Quickbooks, to course of monetary and transactional information for environment friendly accounting and monetary due diligence. A agency’s monetary information is generally current in PDF paperwork reminiscent of invoices, receipts, financial institution statements, and buy orders. 

Nevertheless, monetary information on this type can’t be uploaded or imported straight into Quickbooks. Quickbooks solely helps a number of file codecs for importing and importing monetary information reminiscent of Quicken (QFX), QuickBooks On-line (QBO), Quickbook Supported CSV, or Microsoft Cash (OFX). 

On this weblog, we’ll learn to convert PDF paperwork to Quickbooks supported codecs such because the QBO file format or a Quickbooks Supported CSV.

We’ll check out two strategies of changing financial institution statements in PDF to QBO format.

Changing PDF to QBO through CSV.

On this methodology, we’ll first convert the financial institution assertion from PDF to CSV, adopted by a CSV to QBO (Quickbooks Supported CSV) conversion. Let’s undergo the steps:

1. Head over to the financial institution assertion convertor from Nanonets by clicking here. It’s free to make use of and doesn’t require a bank card. The web page ought to appear like the picture under.
2. The converter will show the extracted information from the financial institution assertion. A obtain window will pop-up for downloading your financial institution assertion in CSV format.
3. Import your downloaded CSV file from Step 2 into Google Sheets by clicking on File->Import
4. The financial institution assertion seems just like the picture under. Take away all extra textual content other than the financial institution transaction desk.
5. Quickbooks helps CSV in solely two codecs. Therefore, we’ll modify our CSV in one of many codecs. Be sure that the column headers have the identical title.
   a. Three-column format: This has date, description, and quantity.
   b. 4 Column Format: This has date, description, credit score, and debit.
6. Submit modification, the sheet will appear like this. We’ve got eliminated extra columns and have named the headers in accordance with the QBO format.
7. Modify the date column to make sure that it’s in dd/mm/yyyy format. Choose all of the dates and click on on Extra Codecs (123 icon) -> Date dd/mm/yyyy format.
   NOTE: If you don’t see this feature explicitly then click on on Extra Codecs (123 icon) -> Customized Date and Time. A window will open. Specify the date format as dd/mm/yyyy and click on on Apply.
8. The financial institution assertion is now accurately formatted. Obtain it as CSV and add on the Quickbooks platform
9. For those who see an error, make sure that you:
   1. Take away any zeros (0) from the file. Depart these cells clean.
   2. Right any transactions that show numbers within the Description column
   3. Make certain the dates are in one format.
   4. Some banks add the day of the week within the Date column (for instance, 20/11/2018 TUE). You’ll want to take away the day of the week.

Utilizing Nanonets’ PDF to QBO convertor

Effectively, that was a tricky manner of changing your financial institution statements in PDF to QBO. Furthermore, the primary methodology is just not scalable as companies generate a number of of those paperwork each day. Manually changing PDFs on this format is just not the most effective utilization of human time and potential. 

With Nanonets, we will effectively extract information from financial institution statements in PDF format and routinely export it to Quickbooks. Let’s take a look at how to do that:

1. Join free on app.nanonets.com. No bank card is required.
2. Click on on New Workflow->Financial institution Assertion. Your mannequin will likely be created. Click on on Add to add your financial institution assertion in PDF format. You may as well arrange auto-forwarding through e-mail to routinely add your financial institution statements to Nanonets.
3. Nanonets’ highly effective OCR extracts the info from financial institution statements.
4. Click on on Again->Workflow->Closing Outcomes to pick out the fields to export to Quickbooks.
5. Choose Date, Description, Debit, and Credit score fields from the Closing Outcomes.
6. Go to the Export part and click on on Browse all export choices. Choose Quickbooks from the window.
7. Title your integration and click on on Configure in Workflow.
8. Register to your Quickbooks account and comply with the directions to setup the Quickbooks integration.
9. That’s it! Now you can routinely export financial institution statements to Quickbooks with none trouble. You’ll be able to equally convert different paperwork from PDF to QBO reminiscent of invoices, receipts, and buy orders.