How to Import Chart of Accounts into QuickBooks – Step-by-Step Guide

Once you are fully engrossed in QuickBooks, you cannot leave a Chart of Accounts that is required to be maintained in some other format. You will undoubtedly desire everything to be imported to QuickBooks, right? QuickBooks Charts of Accounts is a mirror of the company’s earnings & expenses and plays a crucial role in tax calculation. Several situations arise when the user wants to import COA into QB, like switching from QuickBooks Desktop to the online version and vice versa, or migrating QuickBooks from an old computer or workstation to a new one. Sometimes a user wants to merge two or more company files into a single QuickBooks file; in such a situation Chart of Accounts needs to be imported correctly.

How to Import Chart of Accounts into QuickBooks Desktop

Here are the steps on how to bulk import chart of accounts into QuickBooks Desktop from Excel:

1. On the home screen, click the Import (Start) button.
2. In the File Selection step, click Select Your File to choose the Excel file that contains your chart of accounts. You can also click Browse File to browse and select the file from your computer, or click View Sample File to go to the AccountsPro sample file.
3. In the Mapping step, set up the mapping of the columns in your Excel file to the corresponding fields in QuickBooks. The AccountsPro template file does this step automatically, so you can download it to save time.
4. In the Review and Import step, review your file data on the preview screen. If everything looks correct, click Next to import the data into QuickBooks.

Here are some extra tips:

1. Confirm that your Excel file is formatted correctly. The columns in your file should match the QuickBooks fields in the mapping.
2. If you have a large number of accounts, you may want to break your file into smaller files. This will make the import process faster.
3. In case you encounter any errors during the import process, check the mapping to make sure that the columns are matched correctly. You can also try troubleshooting the import by following the instructions in the QuickBooks help documentation.

Mapping QuickBooks Fields

Field Name	Format	Description
Name	Text (Max Length: 31 Characters)	Name of the Account.
Account Type	Reference Text (Max Length: 11 Characters)	Name of the Account Type. E.g., Income, Expense.
Account Number	Text (Max Length: 7 Characters)	GL Account Number.
Bank Account Number	Free-form text description of the Account.	Bank Account Number.
Description	Text (Max Length: 200 Characters)	Free-form text description of the Account.
Opening Balance	Decimal	The Opening Balance Amount.
Opening Balance Date	MM/DD/YYYY	Opening Balance Date
Currency Code	Text  (Max Length: 64 Characters)	Currency Code Ex: USD, CAD

Import Settings

Import Settings allow you to customize the way your file data is imported into QuickBooks. You can find these settings in the Step 3: Review & Import screen or under the Edit menu in the menu bar.

Some of the most useful settings for lists include:

1. Action When a Matched List Found: This setting determines what happens when an existing list entity is found with the same name as an entity in the imported file. You can choose to Show Warning, which will prevent the duplicate entity from being imported, or Update Existing Transaction, which will update the existing entity with the data from the imported file.
2. Pre-Import Validation: This setting determines whether the imported file is validated before it is imported into QuickBooks. If this setting is turned on, any errors in the file will be detected and fixed before the import begins. It can help stop errors in QuickBooks, but it can also slow down the import process.

Here are some additional tips for using Import Settings:

1. Make sure that your file is formatted correctly. QuickBooks supports several file formats, but it is essential to use a valid file format for the type of data you are importing.
2. Review your file carefully before importing it. This will help in specifying the errors that need to be fixed.
3. Use the Test Import feature to preview the import process. It will help you to recognize any possible problems before you import the file into QuickBooks.

How to export the Chart of Accounts to Excel and then import it to QuickBooks?

1. Select the Lists menu
2. Click Chart of Accounts
3. Choose the Report drop-down available at the bottom
4. Click on Account Listing
5. Click the Excel button
6. Follow the instructions that prompt on the screen

How to Import Chart of Accounts in QuickBooks Online

Note: The best time to Quickbooks import chart of accounts is when you’re still setting up your company in QuickBooks. In case you don’t have a lot of accounts to add, you can create new accounts instead.

Step 1: Prepare your spreadsheet

Steps to import your chart of accounts to QuickBooks Online from a Spreadsheet

A sample of what your spreadsheet should look like.

Account Number	Account Name	Type	Detail Type
112720	Current Account – Bank of America	Cash and cash equivalents	Current
	Money Market – First National Bank	Cash and cash equivalents	Money Market
63200	Utilities	Expenses	Utilities
68100	Utilities: Telephone	Expenses	Utilities

You can also find detailed instruction for QuickBooks Import CSV file step by step process .

Step 2: Upload the spreadsheet

Easily upload your spreadsheet by selecting the file from your computer or connecting to Google Sheets.

1. Sign In to QuickBooks Online
   • Log in to your QuickBooks Online account.
2. Navigate to Import Data
   • Click on Settings ⚙ and select Import Data from the menu.
3. Choose Chart of Accounts
   • From the import options, select Chart of Accounts.
4. Upload Your File
   • Depending on the file’s location, follow these steps:
     • From Your Computer:
       • Click Browse, locate the file on your computer, and select Open.
     • From Google Sheets:
       • Select Connect, log in to your Google account, and choose the appropriate file. Then click Select.
5. Proceed with the Import
   • After selecting your file, click Next to continue.

Step 3: Map the fields

After uploading your spreadsheet, ensure your accounts are properly mapped to import correctly into QuickBooks Online.

1. Use the Your Field ▼ dropdown to align the columns in your spreadsheet with the following QuickBooks Online fields:
   • Detail Type
   • Account Name
   • Account Number
   • Type
2. For any field without a matching column in your spreadsheet (e.g., Account Number), select No Match from the dropdown.
3. Once all fields are mapped, click Next to continue.

Step 4: Import the Chart of Accounts

You are almost done! Here are a few things to check before you import your chart of accounts:

1. Ensure you’ve added the correct account types and detail types to your spreadsheet.
2. Note:
   • Prioritize Account Types: Focus on selecting the correct account types first. Select Detail Types: Choose detail types that align with the transactions you want to track.
   • If any fields are highlighted in red, hover over them to view the required fixes. Double-check for extra spaces or formatting errors in the spreadsheet cells.
3. Uncheck any accounts you don’t want to import.
4. If everything looks accurate, click Import to finalize the process.

Once you have checked all of these things, you can click Import to import your chart of accounts.

Step 5: Start entering opening balances and review the COA

The opening balance serves as the starting point for the accounts you import into QuickBooks. Once your accounts are imported, you can start by entering the opening balances. After importing all accounts, ensure you create a journal entry to record the opening balances accurately.

1. Go to Settings ⚙ and select Chart of Accounts
2. Click New and set up the account details.
3. In the Opening Balance field, input the starting balance for your bank or credit card account.
4. Tip: Ensure you know the exact amount for the opening balance.
5. In the As of field, select the date you want to begin tracking your finances.
6. Use the Description field to include additional details about the account, if needed.
7. Click Save to finalize the setup.

Note: If a transaction has already been allocated to the account, you will need to record a journal entry for the opening balance.

How to import the existing Chart of Accounts using QuickBooks Online?

You can import your chart of accounts using an Excel CSV file. Here’s how to format your spreadsheet so you can import it to QuickBooks.

1. Click the Gear icon in the top right corner of the screen.
2. Choose Import Data from the menu options.
3. Click the Accounts box to proceed with importing your account data.
4. Click Browse, then choose the file you want to import.
5. Map the fields in your file to ensure they align with QuickBooks’ required fields.
6. After mapping the fields, click Next, review your data, and finish the import process.

In the End!

You can download the sheet in QuickBooks when you require it. The steps are properly mentioned; however, if you get stuck anywhere while QuickBooks Chart of Accounts, connect with experts available 24*7 on the QuickBooks Support Number for assistance.

Frequently Asked Questions