Set up or edit bank accounts for Bank Feeds in QuickBooks Desktop

Learn how to set up a bank account and connect it to Bank Feeds in QuickBooks Desktop.

In QuickBooks Desktop, you can use Bank Feeds to connect your bank and credit card accounts to online banking. Downloading your bank transactions means you don't have to record them manually.

There are two ways to set up an account. You can connect with Direct Connect or Web Connect. The way you connect depends on what's available at your bank.

In this article, you'll learn about:

• How to connect your account to Bank Feeds
• How to connect with Web Connect (.QBO) files
• How to edit Bank Feed settings for bank or credit card accounts
• Applicable fees
• Bank-provided credentials

Note: You can connect up to 40 accounts. If you need more than that, separate the accounts you need to connect between two or more company files.

Connect your account to Bank Feeds

You can connect your account to Bank Feeds using Web Connect.

Connect with Web Connect (.QBO) files

You can download a file (.QBO) with your company's transactions from your bank or credit card. Then, import that file to QuickBooks to add those transactions to your accounts.

If your bank offers Web Connect:

1. From Banking, select Bank Feeds, then Import Web Connect Files.
2. Select the .QBO file you saved, then select Open.
3. When asked to select your bank account:
   • Use a QuickBooks account that exists if the account you're importing transactions into is already set up in QuickBooks.
   • Create a new QuickBooks account if the account you're importing transactions into isn't in QuickBooks yet. Learn how to create an account.
4. Select Continue. You'll see a dialogue box telling you that the data has been successfully read into QuickBooks. Select OK.
5. Go to the Bank Feeds Centre to review your transactions.

Change from Web Connect to Direct Connect or Direct Connect to Web Connect

If you want to change the way you connect, you'll have to disconnect your Bank Feeds. Once you disconnect, you can set up your bank feeds again.

Edit Bank Feed settings for bank or credit card accounts

You can change your login and other info for the bank account you use with QuickBooks Desktop. Just turn off your Bank Feeds to make any changes. Then set up your Bank Feeds again.

1. Disconnect Bank Feeds for your account.
2. Make your changes.
3. Set up bank feeds for your account (anchor to section in this article)

Connection method

You can connect your bank account using Web Connect, which allows receiving of data through a downloaded file via a web browser. If you set up using Web Connect, you won't be able to send payments to your suppliers or transfer funds to another account from within the program.

Web connect (.QBO) files are online banking transactions from your bank's website. The (.QBO) files download to your computer. Then, you import the transactions so they become available in your Bank Feeds. If your bank offers Web Connect:

1. From Banking, select Bank Feeds, then Import Web Connect Files.
2. Select the QBO file you saved, then select Open.
3. When prompted to select your bank account:
   • Use a QuickBooks account that exists if the account you're importing transactions into is already set up in QuickBooks.
   • Create a new QuickBooks account if the account you're importing transactions into isn't in QuickBooks yet. Learn how to create an account.
4. Select Continue. You'll see a dialogue box telling you that the data has been successfully read into QuickBooks. Select OK.
5. Go to the Bank Feeds Centre to review your transactions.

1. Go to Banking and then Bank Feeds.
2. Select Set Up Bank Feed for an Account.
3. Select your QuickBooks account, and then select Next.
4. Select the Financial Institution for this account and select Next.
5. Follow the onscreen instructions on how to connect your account.
   Note: If you download transactions from your bank and import them to QuickBooks for the first time, this sets up an account for Bank Feeds.
6. Select Connect, then Close.

After you set up your account, you can now download transactions from your bank.

Applicable fees

While there are no fees associated with using Bank Feeds in QuickBooks, there may be charges related to QuickBooks Technical Support, if you need expert assistance when using and setting up Bank Feeds.

Bank-provided credentials

Your bank provides your Customer ID and password (or PIN) for online banking setup.

A Customer ID and Password/PIN is a unique credential used to log in to your financial institution account. The customer ID may be your name, email, account number, 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.