One of the core reasons behind the unsurpassable success of QuickBooks is the ability to connect your Bank Account directly to QuickBooks and download the transaction data seamlessly. This feature helps in managing your expenses via your banking card or credit card. A User can save the time they would spend in searching for each transaction manually by using QuickBooks. The data from your Bank can be imported to your QuickBooks with just a couple of clicks.
You have two options for downloading the transactions:
- Direct Connect – Easily login into your Bank from within QuickBooks.
- Web Connect – The User will download a file from the official Bank Website and then import that file into QuickBooks
Your Bank may only provide one of the options and may set it automatically default during the setup process. The charges for Direct Connect with Bank feeds depend on the Bank that you are using for your financial transactions. You will be easily able to track transaction data entries, bank feeds, reconcile and add missing transactions with highly accurate and timely reporting.
Setting up Bank Feeds in QuickBooks
Follow the simple steps mentioned below for setting up the Bank Feeds in QuickBooks.
Check your Bank Status
- Go to Banking > Bank Feeds and click on Participating Financial Institutions.
- Establish Online Account access directly with the Bank.
- Provide the User ID and Password.
- Click on Next.
Set up Bank feeds
- Go to the Menu Bar and click on Banking.
- Go to Setup Bank Feed for an Account
- The Setup window can be accessed from the New or Edit Account tab.
- Click on the Setup Bank Feeds button at the bottom of the screen.
- Provide credentials like the name of the Financial Institution or choose one from the list.
- Your Bank might automatically show up if the Bank or Credit card participates.
- If you face any problem with the setup, contact the QuickBooks ProAdvisors by dialing the toll-free QuickBooks Tech Support Phone Number.
- Create a new account if you don’t already have one by going into QuickBooks Accounts.
- Click on Close to complete the process.
- You can now manage your Bank feeds in QuickBooks.
Manage Bank Feeds with QuickBooks
Once the Accounts have been set up and your cards ready to accept Bank feeds, you will be able to save time and efforts. Do not worry about identical or repeated transactions as QuickBooks does a fantastic job in matching transactions without duplicating. You can only download a limited amount of data and that is controlled by the financial institution that you are associated with.
Troubleshoot QuickBooks Bank Feed Error
A few of you would run into errors and issue while using the bank feeds. Some of the common issues are mentioned below:
- Connectivity Issue with Bank Account & Transaction downloading Issue
- Unable to Link Bank Account Details with QuickBooks
- Unable to Open Bank Feed in Old version
- Unable to Sync Bank Details with QB Online
- Unable to Update Bank Details
- Bank Feeds Not Showing Up
- Wanted to Change Mode of Payment
- Wanted to set up multiple bank accounts for each individual job in QuickBooks
- Unable to Connect with QuickBooks Web Connector
Bank Feeds OL and OLSU Errors
If you are confused about some step or facing any difficulty while setting up the Bank Feeds for your QuickBooks then you can dial the toll-free QuickBooks Support Phone Number and ask for help from the QuickBooks Specialists. The QuickBooks Specialists provide instant support services so that you can get back to work and this process is hassle-free. You can contact the QuickBooks Specialists by using the Support Line phone Number, Live Chat Support from the website techsupportphonenumber.us and Email support as well.
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