Connect Bank Account to QuickBooks Online Instantly 

connect bank account to quickbooks online

QuickBooks allows you to connect your bank account to this accounting software to download the latest transactions. Moreover, online banking helps save your time and effort in manually entering all the bank details. However, if you are looking for stepwise instructions to connect your bank account to QuickBooks Online, go through this blog.

In this post, we have given the complete details so you can easily link your bank account and download the transactions.

Wondering how to connect bank account to QuickBooks Online and need immediate help? Chat us and get all answers to your queries within the shortest time applicable.

Here’s How To Connect Bank Account to QuickBooks

Many times, the question might arise in the user\’s mind regarding how to connect bank account to QuickBooks Online. We have provided the proper stepwise instructions to connect the bank account to clarify your query.

Process 1: Attach a Bank or Credit Card Account

The users can link as many businesses and personal accounts as they wish with QuickBooks Online. Follow the steps listed below to accomplish the process.

  1. Firstly, move to the Bookkeeping > Transactions > Bank Transactions option.
  2. If you are setting up the Account for the first time, opt for Connect Account. Otherwise, choose the Link Account option if you have an account previously.
    • Note: If you transfer from QBDT to QBO, you must link your bank account again for security purposes.
  3. Within the search column, you must add the name of your financial institution, credit card, or credit union account.
  4. After that, hit the Continue button and log in to your bank using the correct User ID and Password.
  5. Later on, go ahead with the instructions directed on-screen. These steps might comprise the security checks required by your bank. You must wait a few seconds as the bank might take some time to connect.
  6. You must pick the accounts you wish to connect and choose the Account Type drop-down menu. Also, you must pick the account type that tallies your Charts of Accounts in QuickBooks.
  7. Subsequently, download the transactions of the previous days as per your preference. Some financial institutions let you download the transaction for the last 90 days. In comparison, other banks allow you to download transactions of the last 24 months.
  8. Finally, choose the Connect option to associate the bank account with QuickBooks Online.

Process 2: Get the Recent Transactions Downloaded

QuickBooks downloads the transactions automatically, so you don’t have to add them manually. All you have to do is refresh your bank feeds to download the bank transactions automatically.

  1. Primarily, move to the Bookkeeping > Transactions > Bank Transactions option.
  2. After this, hit on the highlighted Update option.

Process 3: Organize the Downloaded Transactions

Once QuickBooks downloads your transactions successfully, you should review and classify the transactions to check that everything is right.

Stage 1: Downloading the Updated Bank and Credit Card Transactions

QuickBooks get the latest available transactions every night around 10 PM PT for many financial institutions. Whereas some banks occupy more time to get the transactions downloaded. Apart from this, it also gives you the option to update the accounts manually to obtain the latest transactions anytime at your convenience.

  1. Firstly, navigate to the Bookkeeping menu, followed by Transactions.
  2. After this, move to the Bank Transactions option and click the Update option.
  3. With this, it will update all of your bank as well as credit card accounts.

Tip:-  If you receive any message related to additional authentication, act according to the instructions displayed on-screen to proceed with the update. This security is not compulsory for all banks, but some opt for the additional layer of security.

Stage 2: Investigate and Arrange Downloaded Transactions
  1. Firstly, you must select Bookkeeping and click Transactions, followed by the Bank Transactions option.
  2. Afterwards, choose the title for the Account you want to re-check.
  3. Next, pick the For Review tab to begin the review.

As a result, QuickBooks will automatically transfer all the downloaded transactions to the For Review tab, and you have to examine them one by one. Moreover, it also allows you to generate a bank rule that classifies transactions for the users automatically.

Stage 3: Evaluate Matched or Additional Transactions

Once you tallies or include the downloaded transactions, it will instantly be recorded into QuickBooks. After this, you can examine your work and verify everything is good within the Categorized or Reviewed tab.

  1. To Commence with, tap the Bookkeeping option and select the Transactions tab.
  2. Navigate to the Bank Transactions and choose the title for the particular Account you wish to review.
  3. Proceed further by selecting the Categorized or Reviewed tab.
  4. Next, choose the link from the Added or Matched column to check the transaction.

Tip: If you wish to edit or transfer a transaction to a different account, you must either undo or unmatch it. Moreover, making all your changes before your monthly bank reconciliation is essential.

Connect Bank Account To QuickBooks Via Charts of Accounts

The users can also connect their bank account to QuickBooks through Charts of Accounts. For that, you must implement the steps below.

  1. In the initial stage, move to the Settings menu and choose the highlighted Charts of Accounts option.
  2. You are supposed to pick the account to which you wish to connect.
  3. Navigate to the Action Column, and pick the View Register drop-down menu to choose the Connect Bank option.
  4. Next, go through the instructions shown on-screen to link your bank to QuickBooks.
Summing It Up!!

This blog will definitely help users to connect bank account to QuickBooks Online. Thus, you can now easily make payments to your vendors and clients online. However, if you still have any inconvenience, you can consult with our professionals through the live chat facility.

Read also :- How To Fix QuickBooks Company File Too Large Issue?