After your bank account has been set up in the QuickBooks Desktop, all you now need to know is “how to download bank statements to QuickBooks“. This is a very crucial as well as tricky part of setting up QuickBooks.
Thus, today we are gonna discuss how to do just that. But before you can move forward, there are certain crucial points that need to be kept in mind for the smooth downloading of the banking transactions within your QuickBooks account.
How to Download Bank Statements to QuickBooks
Before you can begin with downloading the banking transactions in QuickBooks Desktop there are certain prerequisite points that one should keep in mind.
- Always ensure that a backup has been taken off the QuickBooks before you begin with the download of the banking transactions. This is a precautionary measure to enable you to begin from the previous point without losing any data just in case the download fails or there is duplication. Downloading the banking transactions is a sensitive as well as tricky topic and you might not be willing to losing on any data in this process.
- As a security measure, the QuickBooks does not allow downloading the same file more than once. However, in the case of a reset, you must contact your bank to provide you with an alternate solution to download the same.
- As of now, the QFX files and the QIF files can’t be imported into the QuickBooks Desktop.
Methods you can follow:
There are different ways you can know how to download bank statements to QuickBooks
- Direct Connect method
- Web Connect Method
- Offline Method
- Online Method
Downloading the Bank Transactions Through Direct Connect
Currently, the direct connect system is available only in the US. Please note that previously bank statements cannot be downloaded under the Direct Connect method. Thus now with that said, here are the following steps you need to take to download your entries.
- Under the banking menu in the QuickBooks Desktop, select the Bank Feeds menu and further select the bank feeds center.
- Now in the Bank Accounts drop-down list select the account that needs to be downloaded.
- Edit the items as per your requirement before going online.
- Now select download the transactions list.
- Sync the account.
Downloading the Bank Transactions through Web Connect
Under this method, the bank transactions can be downloaded by going to the Bank’s website. Every website is unique and hence it is advisable that you go to the bank’s site and search QuickBooks to know the complete guidelines for downloading the bank transactions. The Web Connect method can be adopted in two manners.
Under this method:
- You can access the Bank’s website from your web browser.
- Log in to your bank account by entering the customer id and password.
- Now download the transactions via QuickBooks Web Connect.
- Import the .QBO file on your QuickBooks Desktop.
Under the online method:
- From the QuickBooks Desktop go to the Bank Feed Center.
- From the Bank feed center select the Bank from which you need to download the bank transactions,
- Select download transactions.
- The QuickBooks will guide you to the Bank’s Website.
- Log in using customer ID and password.
If your query hasn’t still been sorted or you are still looking for a solution to your problem “how to download Bank Statements to QuickBooks” and import credit card transactions then, kindly contact our QuickBooks Consultant toll-free number and get the following benefits.