As a veteran of Quicken, I have been downloading many credit card transactions for years. Now, a client that uses QuickBooks 2003 would like me to track his transactions. He does heavy American Express, and MasterCard to a lesser degree. Question: can we download his credit card transactions into QuickBooks? Thanks.
Yes, but it works differently than Quicken - and is not as seamless. Each new(unmatched) downloaded transaction must be examined and added to the CC register with the appropriate account.
Could you point me in the right direction? I just set up the Amex account In Quickbooks 2003, but cannot find the method of downloading transactions. I even searched the Help file, but found data only for Merchant accounts. My client is just an end user. Thanks!
Hmm. It *IS* in the helpfile with my QB 2003. I use the Premier Contractor edition, but I did not think online banking was limited to the editions above the QB basic level.
Here goes: You must set up the account within QB to have online banking access. Go to Banking==> Set Up Online Banking Services ==> Apply for Online Banking. Complete instructions are in the helpfile under 'Online Banking' and 'Applying for online banking services'. If your client already uses AMEX online website to check his account, you will not have to wait for pin, etc.. Just ignore the advice to wait for an 'introductory package' and PIN. You will use the userid and password your client already set up. Once you have finished using the online banking setup wizard, the QB account you created for the AMEX card will contain online access info. You can see it by 'editing' the account. There should be a check in the box saying 'Account is enabled for:' 'Online Account Access'.
Once the AMEX account has been 'flagged' for online banking access, you will see it in the drop-down list on the online banking screen. Go to Banking==> Online Banking Center. You should see a mailbox with Items to Send. There will be a checkmark next to Get new QuickStatement for account: American Express. On the right side, click the tab for Go Online.
Now, here is where it gets wonky with AMEX. Even though QB has the info for the AMEX website, you will not be connected and download. You must log in to the AMEX website. On the left of the website is a button that says 'Download to Quicken or Money'. Click on it. You will be given the option to change your software to QuickBooks. Click Download Now. Do not save the file, instead open it. QB will give you the option to save or import transactions. Again, do not save, just import.
Now, on the online banking center screen there will be an item under the mailbox for Items Received From Financial Institution. Select the American Express QuickStatement and select View. Select each transaction in turn and enter it into your QB account.
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