Question

You're setting up QuickBooks Online for a company that already has information in Excel. What can you import into QuickBooks from Excel?

Answer 1

When setting up QuickBooks Online for a company that already has information in Excel, you can import the chart of accounts, customer and vendor information, products and services, and certain transaction types.

Step-by-step explanation:

When setting up QuickBooks Online for a company that already has information in Excel, there are several things that can be imported into QuickBooks from Excel:

1. Chart of Accounts: This includes the list of accounts used for recording transactions, such as bank accounts, expenses, income, and assets.
2. Customers: The names and contact information of customers can be imported from Excel to QuickBooks.
3. Vendors: Similarly, vendor information such as names and contact details can be imported.
4. Products and Services: If the company sells products or provides services, the list of items can be imported.
5. Transactions: Depending on the compatibility of the data, certain transaction types like invoices, bills, or journal entries can be imported.