Once your account is set up for Bank Feeds in QuickBooks Desktop, you can finally start downloading transactions from your financial institution (FI) through Direct Connect or Web Connect.
|This article is part of a series that covers basic information about Bank Feeds in QuickBooks for Windows.|
A few reminders before downloading transactions:
- Back up the QuickBooks company file prior to any download or import so you can always start over if needed.
- It is not possible to download transactions into the same QuickBooks Desktop company file more than once. However, your financial institution may be able to “release” the transactions on their side so QuickBooks can download them again. You need to contact your FI to see if they have this capability.
- Currently, only Web Connect files (.QBO) can be imported into QuickBooks Desktop.
- QFX and QIF files are Quicken financial data files that CANNOT be imported into QuickBooks Desktop. There may be more options to import QIF files into QuickBooks by using a third party application available at Intuit Marketplace.
- The transactions you download for the first time will include the maximum number of transactions (this can be over a year of transactions in some cases). You will need to match any new transactions then delete the remaining (previously matched/added) transactions by deleting the statement.
- Downloading prior bank statements is NOT a function of Direct Connect.
- To avoid duplicate entries, once you’ve deleted a downloaded statement, you cannot download it again.
To download and send transactions via Direct Connect:
- Go to the Banking menu, then select Bank Feeds > Banking Center.
- From the Bank Accounts list, choose the account you need to connect.
- (Optional) In the Send items to your bank section, you can edit or delete items by clicking the drop-down.
- Select Download Transactions if you are ready to send and receive transactions.Note: If you have previously downloaded transactions and have not processed them yet, the button label reads Transaction List.
- Select Synchronize, then choose Sync this account (if you want to connect a specific account) or Sync all for this Bank (if you want to connect all accounts for the same bank) to update all incoming and outgoing transactions.
- In the Access to [FI name] dialog box that appears, type your PIN or password.
- Select OK.
- Some banks provide the option to select a (from/to) date range of transactions for download. If your bank does not provide this option, you will receive the maximum number of transactions allowed by your financial institution the first time you download. This may be 30, 60, 90 days, or more.
- Every website is unique. If you're not sure how to access the QuickBooks Web Connect file (.QBO) from your bank, go to the bank's website and type "QuickBooks" in the search field. Most participating financial institutions will provide detailed instructions. If none are found, contact your bank for assistance.
There are two ways to download transactions via Web Connect:
- Access your bank’s website through a web browser outside QuickBooks.
- Log in to your bank account using your customer ID and PIN or password.
- Download your online transaction activity via QuickBooks Web Connect (.QBO) file.
- Import web connect (.qbo) files.
- Access your bank's website within QuickBooks.
- From the Bank Feeds center, choose the appropriate bank.
- Select Download Transactions.
- A QuickBooks browser window opens and displays your bank's website. Use your customer ID and PIN or password.