How to Connect your Bank to QuickBooks Online

QuickBooks allows its users to connect their bank account to make payments easily. When you connect your bank account in QuickBooks Online. You save you from tons of manual data entry. Your bank companies already store information about money going into and out of your accounts. When you bring those transactions to QuickBooks (without additional typing), You increasingly decide which personal transactions are which and which business. If you want an instant solution on this topic you have one more option apart from the blog you can call us on Our toll-free Phone Number.

Why there is a Need to Connect bank:

You can save time and reduce errors by downloading your transactions directly from your bank and credit card accounts over a secure online connection. QuickBooks Online allows you to set these transactions to download automatically, or you can choose to download them manually.

Based on our experience, once business owners and office managers include the technology behind QuickBooks Online, they are amazed and delighted with the savings of time – meaning saving money! And as time and money savings were not enough, you can reduce data entry errors too!

Steps to Connect Bank Account to QuickBooks Online:

There are two methods to set up a new bank account in QuickBooks Online.

Method 1:- Direct feed connection –

It is commonly used for a bank account that you know has a bank feed available and is connect for bank feed access.

  • Go to the Banking tab in QuickBooks Online
  • Click the Add Account Button
  • When the Direct Feed page opens
  • Simply type the name of your bank follow the prompts

Method 2:- Manually add a bank account –

If bank feed is not available or if you want to connect bank feed later then this option is very useful for QuickBooks User.

  • Go to the Accounting tab in your QuickBooks Online, and when the chart of accounts is loaded, click New
  • In the following window, you will select and enter the account details.
    • Account Type:- Please Select Bank
    • Detail Type:- We have started select checking because we are adding a Bank of America holding an account to QuickBooks Online.
    • Name:- Provide your custom name for the bank account. You can also add a description field.
    • Currency:- This is where you choose the currency of the bank account. For example, it is the United States Dollar.
    • Balance:- This is the initial balance section. In our example, the current date is 09 April 2019. The account we are adding is not new and has been in use for some years. We have only started using QuickBooks online on 1st January 2018, so we have to enter the closing balance of the bank account on 31 December 2017. The closing balance for this account was as of 31 December 2017. $ 31,323.58.
  • The new bank account will now display in Chart of Accounts.
  • If you want to connect the bank account directly to the new account, click on the drop-down next to the view register and then select Connect Bank.

Overview:

In this blog, I will tell you how to connect your bank account to QuickBooks Online. I hope my information is useful for QuickBooks users. In case, you face difficulty in understanding any step and you want more information about QuickBooks and our Support services.

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