You can connect Quickbooks Online to your financial institution using your online banking sign-in credentials. This will automatically import bank transactions into QuickBooks Online, letting you manage connections and transactions once they've been imported, saving you time and making the reconciliation process easier.
Before you can connect an account to online banking, you must create the account. (To add a foreign bank account, see How do I add a foreign currency account?)
You've created the account and added it to the Chart of Accounts. Now, you can connect it to your bank.
To connect your account to your bank, you must have your bank login credentials handy, as you will have to log in to your bank's website to establish the connection. You can connect an account either from the Banking page or from your Chart of Accounts.
|Note QuickBooks Online downloads the past 90 days of transactions. This process can take several minutes.
QuickBooks uploads the bank transactions to the accounts you've selected, and returns you to the Bank and Credit Cards transaction page, where you can view, add, categorize, or match transactions, and accept them into QuickBooks Online.
If you have multiple accounts to connect with the same online banking credentials, you can repeat these steps for each account before moving to connect all of them at the same time.
If your online banking user ID or password for a connected bank account changes, automatic transaction importing will be turned off until you update your banking credentials in QuickBooks Online.
Your credentials are updated to allow QuickBooks Online to continue to connect to your bank and automatically download your transactions.
You can easily change the account type of a connected bank account, rename it, add a description or detail type, or make it a sub-account of another bank account.
You can also disconnect the account from online banking, which stops the automatic download of new transactions and removes the account from the Bank and Credit Cards screen. Removing the account does not remove the corresponding account from the Chart of Accounts to give you continued access to previously downloaded transactions.
Your changes take effect as soon as you save them.
Once a bank account is connected to QuickBooks Online, it is displayed as a card on the Bank and Credit Cards screen.
If you have connected multiple accounts, you can specify the account to work in by selecting the card for that account or selecting the account from the Bank and Credit Cards drop-down menu.
The Bank and Credit Cards window displays three tabs for each connected bank account:
For more information about adding, matching, and managing your transactions, see Add and match downloaded banking transactions.