How to add a bank account to QuickBooks

How to Integrate a Bank Account into QuickBooks

Since its debut, QuickBooks Desktop software has been at the top of the accounting software market. The software has always been the number one choice for bookkeepers, accountants and small, mid-sized businesses. The software comes from the house of Intuit, which is a $6.7 billion company and has been in the industry for the last three decades.

The software is used in the U.S.A and countries like Canada, the U.K, and of late, India. The software is accounting software that primarily takes care of all your accounting needs of the nature of your running businesses. Of late, freelancers have also started using the software because of its so easy to use features and functions.

Talking about the different features and functions of the software, one of its features is adding a bank account to your QuickBooks Desktop software. The QuickBooks Online account can be added manually to your account. QuickBooks automatically customises your business list when you build your company file. In this blog, you will know more about how you can add a bank account to QuickBooks, so please read the whole blog very carefully.

How to Integrate a Bank Account into QuickBooks

Manage your transactions by connecting your bank accounts to QuickBooks when working with QuickBooks, additional transactions. You can maintain your company reports up to date and put your time to greater use elsewhere. You may save a lot of data input and data dependence by linking your account to QuickBooks.

You may learn more about QuickBooks by going online. You will be surprised by how your account works and other connected and beneficial aspects after linking it. To add a bank account to QuickBooks, you need to follow the steps that are given below:

  • Connect Your Bank Account: To connect to your bank account, go to the Connect and Account section of the main page located under Bank Accounts. To log into your account, choose your bank from the drop-down menu and enter your login details. When you are done, click Login.
  • Choose Your Account: Following that, you must choose one of the accounts you will use for your company. When you click Connect, the program will automatically download all of your transactions from the last three months.
  • Entering Transactions: On the Bank and Credit Card tab, tap on the Category to categorize these transactions. You must locate and categorize the various transactions. You must touch on one of the initial transactions in the drop-down transaction information to categorize it.
  • Changing Transaction Category: You must open the transaction in the provided menu and pick the transaction you want to place in a new category if you put any of the transactions in a different category. If the transaction you have selected is new, press Add, located on the right side of your column.
  • Choose a Payee: Then, at the top of the menu choices, touch on + Add new, located next to the payee option. After that, choose the new payee choice and then Save.
  • Transfers: If you want to make a transfer, or if you are going to pay a credit card payment or a loan, you must first open the transaction and choose the Transfer option.
  • Split Transactions: You may always click the Divide option to split one of your transactions when buying one or more products.
  • Batch Action: Any transaction may be classified. Simply pick the checkboxes, then open the Batch Actions option and accept all of them by clicking their respective checks.
  • Correcting a Mistake: If you make a mistake and inadvertently record a transaction, you may easily rectify it by opening QuickBooks and undoing the transaction. It will transform it into a new transaction, which you can then record correctly.

These are the steps that will help you to add a bank account in QuickBooks Desktop software. Now that you know how to add a Bank Account in QuickBooks, you must record how to add a bank account in QuickBooks Pro.

In QuickBooks Pro, add a bank account.

QuickBooks is accounting software that has more than one version, and QuickBooks Pro is one of them. This software version also comes along with so many features and adding a bank account to QuickBooks Pro. To add a bank account to QuickBooks Pro, you need to follow the steps that are as follows:

  • Select Appropriate Account Type: Tap the Bank option and then Continue to choose an appropriate account type.
  • Name The Account: You must specify the kind of bank account while naming the account, and if you need any assistance, you can always use the Select from Examples option. One of the most crucial pieces of information is mentioning the account type.
  • Attach To A Subaccount: You may not need a sub-account, but you must designate your account as such.
  • Write An Account Description: To set yourself apart, you must describe your account to be recognized on the chart of accounts.
  • Add A Bank Account Number: You just need to input your banking credentials to add a bank account number.
  • Enter The Routing Number: To input the routing number, fill in the appropriate route number.
  • Select a Tax-Line Mapping: A tax line is also known as an income-tax preparation report. Please wait until you are a bookkeeper or accountant before using the tax line mapping.
  • Enter An Opening Balance: To enter an opening balance, you simply need to tap on the ‘Enter Opening Balance’ option. After that, you need to add your opening balance to the ending balance statement. Review the information that you have put in, and then tap on OK.
  • Choose Check Settings: Firstly, you need to enter the check settings, and then you can set a check you reorder point, and then print directly from the QuickBooks.
  • Save Account: To do that, you simply need to tap on the Save & Close option, which is coloured in blue.
  • Enable Live Bank Feeds: This is optional whether you like to receive the notifications.

These are the steps you need to take when adding a bank account in QuickBooks Pro. If you can still not add a bank account to QuickBooks in both versions, you can always talk to one of our customer care representatives at QuickBooks Desktop Error Support. The representatives will help you with any query related to the QuickBooks Desktop software.

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