Connect Bank and Credit Card Accounts to QBO

Linking Accounts (Bank and Credit Card) to QuickBooks Online

In this blog, we discuss how to connect bank and Credit card accounts to QuickBooks online including all related information to clear all bank information. As you know QuickBooks amazing features and integrations find convenient ways to fix your all business accountancy programs. QuickBooks offers a secure payment mode to manage your all business payment issues. Here, you can connect your bank accounts directly to your QuickBooks Online. Throughout this, you can easily track your business payment accurately including data and time.

How to Connect the Bank and Credit Card Accounts to QuickBooks Online

Connecting your bank and credit card accounts will make it simpler for you to log transactions, classify costs, and reconcile your accounts if you use QuickBooks Online to handle your money. The following steps help you to learn to connect the bank and credit card accounts to QuickBooks Online.

Moving from QuickBooks

QuickBooks automatically downloads and categorizes the transactions when you link your online bank. By doing this, you can update your bank feeds more quickly. You only need to review and provide your approval. For security purposes, you must reconnect your bank and credit card accounts in QuickBooks Online if you used bank feeds in QuickBooks Desktop. Before you link your bank, take the following steps if you intend to import your data from Desktop.

  • In QuickBooks Desktop, look for your most recent category transaction.
  • Note the date of the transaction.
  • To import your desktop data, you have to follow the steps. Remember to complete this step before connecting with your bank. Otherwise, any downloaded bank transactions in QuickBooks Online will be replaced with the data from your desktop.
  • Your category transactions will copy over online from the desktop. Transactions that are not complete won’t transfer.

Step 1- Connecting accounts to QBO

  • Start by logging in to QuickBooks Online.
  • Click on the Banking option that is in the left-hand menu (Take me there).
  • Click the blue Add Account button on the Banking page.
  • Type the name of your bank or credit card company in the search field. You should be able to find your financial institution because QuickBooks supports a large variety of them.
  • Now you have to enter the login credentials. This contains both your online banking login information username and password.
  • You have to allow QuickBooks access to your account. We can import your transactions and account data as a result.
  • From the list of accounts connected to your bank or credit card company, choose the ones you want to link to QuickBooks. You are free to link as many personal and professional accounts as you like.
  • Verify the information for the accounts you have selected.
  • Double-check your work, then click the Connect button. Wait for the connection to open (this could take a while). Your transactions will start to show up in QuickBooks as soon as the connection is made. 
  • From your QuickBooks chart of accounts, select the appropriate account type for every bank or credit card account.

For new bank accounts

  • Choose Bank from the Account Type menu.
  • Then you have to select either Savings or Checking under Detail Type.
  • Select Save and Close after giving the account a name.

For new credit card accounts

  • Select Credit Card from the Account Type dropdown menu.
  • Then you have to give the account a name and then you have to select Save and Close.

Step 2- Categorizing transactions to QBO

You can now begin categorizing your transactions. This makes it simpler to create reports and pay your taxes while also helping you keep track of your costs and income.

You can choose how far back you wish to download transactions if the right account type isn’t included in the dropdown list. While some banks only allow you to download the latest 90 days of transactions, others allow you to go back as far as 24 months.

Step 3- Connect bank accounts from Chart of Accounts

  • Go to Accounting or Bookkeeping.
  • Then you have to select a Chart of accounts.
  • The account you want to connect to can be found there.
  • Now, from the Action column you have to select the Account History dropdown menu.
  • After that, you have to select Connect Bank and follow the instructions that are displayed on the screen.
  • In the Search section, type the URL or name of your bank, then choose it.
  • Fill out the Login and Password fields with your Sign information, then click Continue.
  • From the dropdown menu, choose the account you want to connect and the date range for pulling transactions. Next, you have to click Next.
  • Then you have to select your account type on the Account type dropdown menu, and then you have to select Next.

QuickBooks offers extensive support and tools to get you started if you require further guidance.

We hope the above information clears your all queries regarding connecting bank to credit card accounts to QuickBooks Online and fixes all QuickBooks Online-related issues and QuickBooks bank feeds not working issues. While implementing the above steps, if you need any kind of favor, then connect with QuickBooks support.

Frequently Asked Questions

  • How would I be able to Sync Bank Accounts in QuickBooks Online?

    Linked with your Bank account
    Select the bank and enter the user ID and password that you prefer to access the accounts
    Select the Account and enter “Transactions
    Hit the next click on the “First Transaction” from the list-menu
    Enter your right-click on it and the transaction details will update on your screen
    Now, you have the choice to change the transaction category
    Click on the “Payee” option.

  • Is it Safe to Link my Bank Account to QuickBooks?

    Yes, connecting your bank with QuickBooks is one of the best ways to handle all business payments. So, you can pull the record of all transactions and then download it. To do this, just go to your bank account and then go to the bank feed field. In QuickBooks, you find more advanced options.

  • Can I Merge Two Accounts in QuickBooks?

    QuickBooks utilizes more than one account as the default for various features. These are like accounts linked to online banking unable to merge. If you try to merge accounts that have reconciliation reports and click on the “Report” button. The selected transactions lie on the merged account and then stay reconciled.

  • Can QuickBooks link to any bank account?

    Most banks, even small credit unions, can be connected.
    Note: You can manually upload bank transactions to QuickBooks Online if you can’t find your bank but still want to submit your transactions. Enter your banking login and password to log in to your account. Next, click Continue.

  • How can my bank account be connected?

    ● One of the accounts you want to link can have an online or mobile banking login. 
    ● You should seek the option to link external accounts in the banking menu.
    ● To begin the process, you must provide the routing number and account number.

  • Am I able to link two bank accounts using the same number?

    One mobile number can be connected to various bank accounts. You cannot, however, link more than one mobile number to a single bank account. As a result, be careful to connect to a network you can trust. Additionally, you only receive messages and OTPs to the first number, per bank policies.

  • How do I update my connected accounts?

    ● First of all open the Banking or transaction menu.
    ● After that click on the Banking tab, then the Edit icon.
    ● Now check and update all required account data.
    ● Hit the Save & Connect button to finish the program.