This article will provide you to process to Set up an account for Bank Feeds in QuickBooks desktop through which you will be able to manage your bills and bank transactions directly from the QuickBooks software and you don’t have to do all these things separately.
|Note: This article is a part of article series that provides you all the essential information about Bank Feeds in QuickBooks Desktop.
A user can easily set up an account for online banking or Bank Feeds in QuickBooks software irrespective of the mode that they are in. They can set up the account in both, single and multi-user mode of QuickBooks desktop. If you want additional information about using the Bank Feeds in multi-user mode then you need to press the F1 key and then type exclusive use and then hit enter.
You can add unlimited bank accounts in the bank feeds but the initial 50 accounts will show up on your Bank Feeds Center. If you want to add more than 50 accounts then we recommend you to separate them between multiple company files. You can visit Create QuickBooks Desktop company file: Overview to know more about creating a new company file.
Set Up Your Account For Bank Feeds
- Open QuickBooks and go to Banking > Bank Feeds > Set Up Bank Feeds for an account.
Note: Make sure that your FI supports the QuickBooks bank feeds services. To check that, you need to go to Banking > Bank Feeds > Participating Financial Institutions.
- Enter the name of your bank in the Enter your Bank’s name field and the QuickBooks will starts to show the possible matches.
- Direct Connect: If want to use multiple accounts at a same time then you will have to set up each of them one by one. Once the request gets approved, you will be provided the login credentials for the account from your bank. If you use Direct Connect services then you will be taken to a window where you will get all the options to complete the process.
- To enroll for the service, click on enrollment site and you will be taken to the bank’s site. You may get charged for the Direct Connect service
- You will be provided the option to manually import the transactions if you don’t want to enroll now.
- If you’ve enrolled for Direct Connect earlier then you need to click on Now, you will have to enter your Direct Connect login credentials:
- Enter the correct Online Banking ID and Password to log into your account.
- Click on Connect to connect QuickBooks to the bank’s server.
- Choose the account that you want to connect with your QuickBooks software.
- Click on Finish to complete the process. Congratulations, you’ve successfully enabled your online banking service into QuickBooks Desktop.
- Web Connect: If you are provided only the Web Connect service from your FI then you’ll be taken to the window where you will get all the steps to download transactions into your Bank Feeds. If you download transactions from the financial institution’s site and import those transactions into your Bank Feeds for the first time, that account will automatically be added into your online banking services in QuickBooks. You may be provided different options for Direct Connect, Web Connect or both as per your QuickBooks version.
- Select the bank account/s that you want to add in the Link your Accounts
- If you have more than one account (Savings, Checking, or Credit Card) available for connecting to the QuickBooks Desktop but only need one (Checking), then you can set up online banking just for it.
- If the account is yet to be added in QuickBooks then you need to click on Select existing or Create new option and then select Create New Account.
QuickBooks Technical Support For Online Banking Issues
The provided steps should allow you to Set Up Account For Bank Feeds In QuickBooks Desktop easily. However, it is also possible that you may fall into some technical issues while setting up an account in the QuickBooks software. Most of the time users face online banking errors. For more information, you can visit: Fix OL and OLSU Bank Feeds Errors In QuickBooks Desktop.
If you are facing any kind of issue while setting up an bank account and you are not able to do so then you can get in touch with us at our toll-free QuickBooks Technical Support Phone Number +1800-567-0425 to avail the technical support services from the certified ProAdvisors of Intuit.