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Brexit FAQ

by Intuit Updated 2 years ago

The UK has left the EU and is currently in the transition period that will end on 31 December 2020. When the new UK-EU relationship starts on 1 January 2021, regulatory changes will impact how QuickBooks integrates with financial institutions. There may be a temporary disruption to your banking connections with UK and EU banks, resulting in bank transactions not automatically appearing in QuickBooks.

We are working hard to avoid disconnection where possible, and restore connections as soon as possible.

Which bank connections will be affected?

Whether your bank connections will be impacted depends on the location of your business and the location of your bank.

The frameworks used by some financial institutions to provide bank feeds were implemented under EU regulations, and some financial institutions will need to move to a different framework to provide the bank feeds after 1 January 2021.

If you are based in the EU, and have connected a bank based in the EU or UK to QuickBooks, you should be aware that there may be a temporary disconnection from your bank(s). We are working to avoid any disconnections where possible. We will notify you if your bank feed(s) will not be available after 1 January 2021.

How will I know if I need to take any action?

If you are required to take action with regards to your bank connections, we will contact you in the month of December by email to let you know of any changes which will happen, and the actions you will need to take.

You will also be notified in QuickBooks, if your connection has been lost, through an error message in the banking area.

Until the connection is restored you will need to manually add your bank transactions to continue to see them in QuickBooks. Instructions for how to do this can be found here.

When bank connections are re-established, QuickBooks will notify you in the banking area and by email.

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