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Connect and manage your bank account in QuickBooks Online

by Intuit•47• Updated 1 month ago

Want to link your bank or credit card to QuickBooks Online? It's super easy with a bank connection (or a bank feed). It's the best way to keep your books in check without any stress or mistakes.

Before you start

  1. Check that your bank account supports a bank feed connection in our list of banks and their supported bank feed types.
  2. Read about the difference between a standard and direct bank connection.

Select one of the following headings to get started:

  1. Go to Bookkeeping, select Transactions, then select Bank transactions (Take me there).
  2. Select Connect Account if this is your first time connecting, or Link account if you've created one in the past.
  3. Search for your bank.
  4. Select Continue, then sign in to your bank by entering your banking user ID and password. 
  5. Follow the onscreen steps to connect and go through any additional security checks required. 
  6. Select any accounts you want to connect e.g. your savings, transaction, or credit card. 
  7. Choose the matching account type from your chart of accounts in QuickBooks.
  8. Select how far back you want to download transactions. Some banks let you download the last 90 days of transactions while others can go back as far as 24 months.
  9. Select Connect.
  10. Reenter QuickBooks Online and refresh your window.

Before you start

Unfortunately, foreign currency accounts (those with a currency other than AUD) aren't yet supported for direct feeds as they don't have a BSB and their account numbers contain letters, meaning that the system won't recognise it.

The only foreign currency account eligible for direct feeds is with Commonwealth Bank of Australia (CBA), as long as it's a standard CBA foreign account with a BSB and an account number.

If you want to connect a foreign currency account with QuickBooks Online, you'll have to connect it via standard feed.

You have a slightly difference process that we've explained on these different pages:

Unfortunately, if you're a Macquarie Bank customer and your account number starts with a '00', you won't be eligible for direct feeds with QuickBooks Online (even if the account number is 9 digits long).

Term Deposit accounts aren't supported either because they don't have regular transactions.

Supported account types for direct feeds between QuickBooks and Macquarie Bank are:

  • Cash Management accounts (9-digit account number starting with 1 or 9)
  • Business / Trust accounts (9-digit account number starting with 2 or 3)

To set up a direct feed for your eligible bank account, follow these steps:

  1. Go to Transactions and select Bank transactions (Take me there).
  2. Select Connect Account if this is your first time connecting, or Link account if you've created one in the past.
  3. Search for your bank.
  4. Select Get direct bank feeds.
  5. Read the steps on connecting the bank feeds, then select Get direct feeds.
  6. Enter your account details. It's important that these fields match what the bank has on file for you.
    1. Please note that for Credit Card accounts, you need to enter your 9-digit Account Number, not your actual credit card number.
  7. Select the bank account you want to connect to, select Connect and an authorisation form will be created.
  8. Select Preview form.
  9. Print the form and hand-sign it. If there are two signatories, both signatories will need to sign the form. If there are more than two, then all signatories need to sign the form.
  10. Email or post the form using the following details:
    • Email: intuitforms@siss.com.au
    • Subject: QuickBooks Bank Feed Request
    • OR
    • Mail: SISS Data Services Pty Ltd
    • Locked Bag 3060
    • Crows Nest, NSW, 1585

Note: Copies aren't accepted by the banks, so don't deliver the form into your local branch. The entire process will take up to 10 business days from the time your form is received by SISS.

If your application is in error or has been denied, it’s likely that something is wrong with the form. The error message you'll see in the Banking tab (take me there) should give you an indication of the information that SISS needs clarified.

Best practice in this situation is to

  • Disconnect the impacted feed, then
  • Repeat the process of connecting to a direct feed and submitting a refreshed form.

Before you start

Upgrading to a direct bank connection

If upgrading to a direct bank connection is available for you, you should see a Get a better connection message under your bank account tile.

image

After selecting Get a better connection:

  1. Follow on from Step 4 within the previous Set up a bank connection section to set up a direct bank connection.

Once the bank authorises your direct connection, we will merge it with your existing standard bank connection. Then, you can manage your banking in one account.

For most accounts, this will take 10 business days. ANZ and Westpac customers, you'll have this done within 48 hours.

Instead of deleting your online banking account, simply disconnect it. This prevents QuickBooks from downloading new transactions, while preserving your existing accounting data. You can always reconnect it later!

  1. In Business view, go to Bookkeeping, select Transactions, then select Banking (Take me there) or in the Accountant view, go to Banking and select the Banking tab.
  2. Select the tile for the bank account.
  3. Select the pencil ✎ icon, then select Edit account info.
  4. Tick the Disconnect this account on save box. Note: If QuickBooks is downloading new transactions, you won't see this option. Wait a few minutes for the update to finish and try again.
  5. Select Save and Close.
  6. The bank account will disappear from your banking screen.

However, if you’ve spoken to your accountant and are sure that deleting your account is the right step for you, here's how to delete an account and make it inactive.

Have any other questions for our team?

If any of your questions were left unanswered, we'd love to hear them!
Pop over to our QuickBooks Community's discussion on bank connections where you can ask your questions, have them answered by qualified QuickBooks Online experts, and hopefully help others with the same questions out in the process.
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