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Q: I've exported my P&L and set up my budget, and clicked apply and than imported the Imp.iff file back into quickbooks. Reviewing my budget I find that it was taken the expense accounts and applied half of them to my balance sheet budget. I now have about 30 extra asset accounts named after my expense accounts in my chart of accounts....They imported as bank accounts. How do I get these to import into my P&L budget?
A: If imported accounts are not set up correctly in QuickBooks then Quickbooks will create bank accounts of the imported items. See the Quickbooks note ... "Caution: Make sure all accounts in your IIF file are created in QuickBooks prior to importing. If you import a transaction with an account that is not already created in the QuickBooks data file, that account will be created as a new bank account." at http://support.intuit.ca/quickbooks/en-ca/iq/Import-and-Export/Importing-or-exporting-data-with-IIF-files/HOW12778.html .. Possibly this is what is occurring for you ? If the PL.csv file was created (exported) from an existing company in your qucikbooks and the budget was imported back into this company then each imported item should have matched an existing item in the quickbooks file and it should have been fine. If the PL.csv file was not created from the same company that the Imp.iif file was imported to then Quickbooks will create each item as a new bank account. FYI you can manually edit the the Imp.iff file using a text editor. Also you can access a copy of the Quickbooks Iff Import Manual in the Quickbooks IFF Import Kit from https://bizpep.com/iif_import_kit.zip , this may provide further insight.
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