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Set up account for Bank Feeds - Get Start with Bank Feeds - Support PosTechie

QuickBooks Bank Feeds is the online banking feature that allows you to connect to your financial institution to download transactions and use other online services.

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Set up account for Bank Feeds - Get Start with Bank Feeds - Support PosTechie

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  1. Set up account for Bank Feeds Set up your account for Quickbooks Bank Feeds​ and manage your bills and bank transactions online. This article is part of a series that covers basic information about Bank Feeds in QuickBooks for Windows. ● Get started with Bank Feeds ● Set up account for Bank Feeds ● Download Bank Feed transactions ● Add and match Bank Feed transactions ● Edit Bank Feed settings for bank or credit card accounts ● Deactivate Bank Feeds for an account You can set up your account for online banking or Bank Feeds processes in both single-user and multi-user mode. To know more about using Bank Feeds in multi-user mode, go to QuickBooks Help ​​(press ​F1​​ on your keyboard) and in the search box, type "exclusive use." Although there's no limit to the number of online bank accounts you can set up in QuickBooks, only the first 50 accounts (arranged alphabetically by bank; checking/chequing followed by credit cards) will display on your Bank Feeds Center. If there's a need for more than 50 connected accounts, try separating them between two or more company data files. See Create QuickBooks Desktop company file: Overview for information on how to start a new company file. Set up your account for Bank Feeds

  2. 1. From the QuickBooks ​Banking ​​menu, select ​Bank Feeds​​ > ​Set Up Bank Feeds for an Account​​. 2. In the Enter your Bank’s name field, enter the name of your bank. Note that as you type, QuickBooks displays possible matches. 3. Depending on your bank and the version of QuickBooks you're using, you may be presented with options for Direct Connect, Web Connect or both. Direct Connect (applies to US only) To set up account for Direct Connect, you must first apply for online services through your bank. If you use more than one account you may have to apply for each one separately. The bank will provide you with your login credentials once your application is approved. Contact your Financial Institution (FI) for details. If your bank offers Direct Connect service, you will be redirected to a window providing you the option to enroll in the service. ○ If you want to enroll, select the ​enrollment site ​​link and you will be redirected to the bank’s website. Note that some banks charge for Direct Connect service. ○ If you do not want to enroll, you will be given the option to manually import transactions. ○ If you have previously enrolled in Direct Connect, select the ​Continue​​ button. In the next window, you can enter your Direct Connect login credentials. 1. Enter your Online Banking ID and Password. 2. Select ​Connect​​. QuickBooks will connect to the bank’s server. 3. Select the bank account you want to connect to QuickBooks. 4. Select ​Finish ​​after the process completes. You have successfully activated online banking. Web Connect If your bank only offers Web Connect or you use a Canadian version of QuickBooks, you will be redirected to a window providing steps to download transactions through Web Connect. Note that downloading transactions from the bank’s website and importing them into QuickBooks Desktop for the first time automatically sets up an account for online banking. 4. On the Link your Accounts screen, choose which bank account/s to add to QuickBooks. ○ If you have multiple accounts (Savings, Checking/Chequing, or Credit Card) available to connect to QuickBooks but only need one (Checking/Chequing), then you can set up online banking just for it. ○ If the account is not yet in QuickBooks, click the ​Select existing ​​or ​Create new drop-down, then choose ​Create New Account​​.

  3. Get started with Bank Feeds for QuickBooks Desktop QuickBooks Bank Feeds​​ is the online banking feature that allows you to connect to your financial institution to download transactions and use other online services. QuickBooks lets you record and do bank and credit card transactions more efficiently, so you’ll have more time for your other business needs. This article is part of a series that covers basic information about Bank Feeds in QuickBooks for Windows. ● Get started with Bank Feeds ● Set up account for Bank Feeds ● Download Bank Feed transactions ● Add and match Bank Feed transactions ● Edit Bank Feed settings for bank or credit card accounts ● Deactivate Bank Feeds for an account What you need to get started The two primary requirements are: ● Access to the internet.

  4. ● A banking account at a financial institution that offers services for QuickBooks. To find out if your financial institution supports online services for QuickBooks, go to Banking > Bank Feeds > Participating Financial Institutions. There are over 1400 financial institutions (FI) across the US and Canada that offer online banking services in QuickBooks at the moment. If your bank or credit card company does not offer online banking import or download services for QuickBooks.. Your financial institution controls what and how information is received by QuickBooks. Before you set up online banking, it is highly recommended that you coordinate with your bank so you’ll know what connection method they support, what the fees are (if any), and what information you need to set up and use the feature. Note that you cannot add online services to a QuickBooks account until you have received all the information required by your FI. Connection method QuickBooks supports two connection methods, Direct Connect and Web Connect. Some banks offer both services while some offer just one. ● Direct Connect (only applicable to US): Allows QuickBooks to send information to your FI and download data directly from it. This method requires the use of a bank-provided PIN or password. After you set up the account, you can securely download electronic statements to your Bank Feeds. You can also use other types of online services (online vendor payment, online transfer between accounts, and others) supported by your FI. ● Web Connect: Only allows receiving of data through a downloaded file via a web browser. If you set up using Web Connect, you will not be able to send payments to your vendors or transfer funds to another account from within the program. Applicable fees While there are no fees associated with using Bank Feeds in QuickBooks, there may be charges related to: ● The use of bank's service: Some banks charge connection fees (particularly for Direct Connect). Intuit does NOT have control over these charges and we recommend that you get in touch with your FI for more information. ● QuickBooks Technical Support: If you need expert assistance when using and setting up Bank Feeds. Bank-provided credentials

  5. The following are some of the information provided by the bank for online banking setup. ● Customer ID and Password/PIN: A unique credential used to log in to your financial institution account. The customer ID may be your name, email, account number, Federal Tax ID, or other identifier provided by you or your company. It may be referred to as Customer ID, Online ID, Internet ID, User name, Login Name, or something similar. Take note of the following limitations: ○ QuickBooks does NOT support the use of multiple Customer IDs with the same financial institution. ○ QuickBooks allows just one login per bank (FI), per company file. If you have multiple Customer IDs or logins at a single bank (FI), you'll only be able to set up one (Customer ID/login) for download, per company file. If you are using Direct Connect, and depending on your FI, you may also need some or all of these (applies to US only): ● Account Number: This is the number that your FI gives to your account when they create it. It appears on your banking statements. If you have checks for the account, you can usually use one to find your account number. If you cannot find it, contact your FI for this information. ● Routing Number: FIs are identified by a unique nine-digit number called the routing number. It is used to send checks and electronic transactions to the right place for processing. You can usually find the routing number from a check, if you have them for the account. If you cannot find it, contact your FI for this information. Account type: To set up a direct connection between your FI and QuickBooks, you need to know how the financial institution classifies your account, not how QuickBooks does. ● Account Type at FI Account type in QB Checking Bank Savings Bank Money Market Bank Line of Credit Bank Credit card Credit card

  6. Line of Credit Other current liability We are PosTechie, which provide ​Quickbooks Pos Support​​ directly to the customer at +1800-935-0532​​ dial the Toll-Free and get instant solution for all kind of pos or accounting help.

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