1. Why connect your accounts to QuickBooks
Connecting your bank accounts and credit card accounts to QuickBooks helps you do much less manual data entry, faster account balancing, and keeps you always ready for tax time.
Connecting Bank Accounts
When you connect your bank accounts, QuickBooks keeps track of all your ATM purchases and withdrawals, plus all direct online funds transfers. Instead of methodically entering every single transaction you make, you download them straight from the bank, which saves you a lot of time.
Connecting Credit Cards
If you share business credit cards with your colleagues, organizing everyone’s receipts can be complicated. When you connect your credit card accounts to QuickBooks, you can download all of these purchases without worrying about who bought what.
Reconciling Made Easy
Reconciling accounts is one of the most laborious tasks small business owners have to deal with. Once you connect your accounts to QuickBooks, every time you work with your downloaded transactions you’re teaching QuickBooks about your business. QuickBooks will now recognize some of these transactions for you and save you time. When you have to file your taxes, your transactions will already be categorized, which makes reconciling that much easier.