How to Convert PDF to QBO (with Steps and Illustrations)

Businesses often use third-party accounting and finance software, such as Quickbooks, to process financial and transactional data for efficient accounting and financial due diligence. A company's financial data is mostly found in PDF documents, such as invoices, receipts, bank statements, and purchase orders.

However, financial data in this format cannot be uploaded or imported directly into QuickBooks. QuickBooks only supports a few file formats for importing and uploading financial data, such as Quicken (QFX), QuickBooks Online (QBO), QuickBook Supported CSV, or Microsoft Money (OFX).

In this blog, we will learn how to convert PDF documents to Quickbooks compatible formats, such as the QBO file format or a Quickbooks compatible CSV.

We will look at two methods for converting PDF bank statements to QBO format.

Convert PDF to QBO via CSV.

In this method, we will first convert the bank statement from PDF to CSV, followed by a CSV to QBO conversion (Quickbooks compatible CSV). Let's go through the steps:

1. Access the Nanonets bank statement converter by clicking here. It is free and does not require a credit card. The page should look like the image below.
2. The converter will display the data extracted from the bank statement. A download window will appear to download the bank statement in CSV format.
3. Import the CSV file downloaded from Step 2 to Google Sheets By clicking on Archive->Matter
4. The bank statement looks like the image below. Delete all the extra text except the bank transactions table.
5. Quickbooks supports CSV in only two formats. So, we will modify our CSV in one of the formats. Make sure the column headers have the same name.
   to. Three column format:This has date, description and quantity.
   b. Four column format:It has date, description, credit and debit.
6. After the modification, the sheet will look like this. We have removed extra columns and named the headers according to the QBO format.
7. Modify the date column to make sure it is in dd/mm/yyyy Format. Select all dates and click More formats (icon 123) -> Date dd/mm/yyyy format.
   NOTE:If you don't see this option explicitly, click More formats (icon 123) -> Custom date and timeA window will open. Specify the date format as dd/mm/yyyy and click on Apply.
8. The bank statement is now formatted correctly. Download it as CSV and upload it to the Quickbooks platform.
9. If you see an error, make sure of the following:
   1. Remove all zeros (0) from the file. Leave those cells blank.
   2. Correct any transactions that show numbers in the Description column
   3. Make sure the dates are in one format.
   4. Some banks add the day of the week in the Date column (e.g. 11/20/2018 MAR). You must remove day of week.

How to use Nanonets PDF to QBO converter

Well, that was a difficult way to convert your PDF bank statements to QBO. Moreover, the first method is not scalable as businesses generate several such documents on a daily basis. Manually converting PDF files into this format is not the best way to utilize time and human potential.

With Nanonets, we can efficiently extract data from PDF bank statements and automatically export them to Quickbooks. Let's see how to do it:

1. Sign up for free at app.nanonets.com. No credit card required.
2. Click on New workflow->Bank statementYour template will be created. Click Upload to upload your bank statement in PDF format. You can also set up automatic email forwarding to automatically upload your bank statements to Nanonets.
3. Nanonets' powerful OCR extracts data from bank statements.
4. Click on Back->Workflow->Final results to select the fields you want to export to Quickbooks.
5. Select Date, Description, Debitand Credit Final Results fields.
6. Go to the Export section and click on Explore all export options. Select Quick Books from the window.
7. Name your integration and click on Set up in workflow.
8. Login To you Quick Books account and follow the instructions to set up the Quickbooks integration.
9. That’s it! You can now automatically export bank statements to Quickbooks without any hassle. Similarly, you can convert other PDF documents to QBO, such as invoices, receipts, and purchase orders.