Connecting To Your Bank
Why should you connect QuickBooks to your bank?
Connecting QuickBooks to your bank is not only a way to save time, but also helps to ensure that you have an accurate representation of your income and expenses.
When you connect your bank to QBO, the transactions automatically download as they clear your account.
This helps you by automating data entry so that you only need to review the transactions and select the proper categories, instead of creating each transaction manually.
How to connect QuickBooks to your bank:
- Log in to QuickBooks
- Select Transactions -> Bank Transactions from the Left Navigation Bar
- Select "Link Account" from the right side of your screen
- Search for your bank or the URL you use to login to online banking
Once your bank has been selected, you will be prompted to enter your banking login credentials
Each Bank will look different, but you may see your bank asking you which accounts to authorize.
Once confirmed, you’ll be directed back to QuickBooks
- For each account you are connecting, you’ll need to select the account in QuickBooks to match
- Next Select The Date Range for the Transactions to Import. Some banks let you download the last 90 days of transactions. Others can go back as far as 24 months.
If you migrated from Zipbooks, Qvinci should be able to tell you what custom date to use
If you did NOT migrate from Zipbooks, consider bringing in the current fiscal year
Once connected, you are ready to start categorizing transactions and recording them in your register.
Additional Notes on Bank Connections
- Your bank feed should update each night with the latest cleared transactions.
- Transactions sitting in your For Review tab are not recorded in your register or reflected in your bank balances until confirmed
- Periodically, your bank may require you to re-authorize the connection to QuickBooks. This is absolutely normal and expected.
- If your bank is not listed or able to connect directly, you can manually import transactions
- The connection and automatic feed does not eliminate the need for monthly bank reconciliations
Additional Resources
- QuickBooks Video - Bank Feeds
