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nitsujayyy
June 11, 2024
Question

Bank Feeds

  • June 11, 2024
  • 13 replies
  • 60 views

I used the web download for bank feeds. After clearing everything I can use the link to actual bank account since it would be most recent data. I used the web download file as Bank. How can I use the actual bank link same thing so it's not too confusing

13 replies

A
AnneMariee
June 11, 2024

It's nice to see you here in the Community space, nitsujayyy. I'm here to assist you in connecting your bank account to QuickBooks Desktop for a more efficient workflow.

 

In QuickBooks Desktop (QBDT), there are two ways to set up an account. You can either connect with Direct Connect or Web Connect, depending on what's available at your bank.

 

Setting up your account with Web Connect includes downloading a file with your company's transactions and then manually importing it to QBDT. On the other hand, Direct Connect is when QuickBooks automatically downloads transactions available from your bank. You'll need your bank credentials to use this method, and I also recommend consulting your bank if there's a fee for the service.

 

To set up bank feeds with Direct Connect, you can follow these steps:

 

  1. On the top menu, go to Banking.
  2. Select Bank Feeds.
  3. Click Set up Bank Feeds for an account.
  4. Enter and choose your bank on the field.

 

 

If you're enrolling for Direct Connect for the first time, you may need to apply through the Enrollment Site link. You can check out this article for more information: Set up or edit bank accounts for Bank Feeds in QuickBooks Desktop.

 

For future reference, here's a comprehensive guide on ensuring your QuickBooks accounts match your real-life ones: Reconcile workflow.

 

Should you have any other banking concerns in QuickBooks, please don't hesitate to leave a comment below. I'm always ready to help you out, nitsujayyy. Keep safe!

N
nitsujayyyAuthor
June 11, 2024

Question was how do I have the direct bank account linked with the web file i downloaded so that it can use the same chart of accounts.

N
nitsujayyyAuthor
June 11, 2024

Thank you for sharing further clarification, nitsujayyy. Let me share some steps regarding how you can link your transactions.

 

If you've already set up your direct bank account to Quickbooks Desktop (QBDT), you can now import your Web file or Web Connect (.qbo) files and allocate them into the existing QuickBooks account so the transactions will have the same chart of account. Kindly follow these steps:

 

Step 1: Import your transactions

 

  1. Go to the Banking menu.
  2. Click the Banking Feeds dropdown, and choose Import Web Connect File.
  3. Find the QBO file you saved, and then select Open.
  4. Select a bank account for your transactions.
  5. Choose either to Use a QuickBooks account that exists or to Create a new QuickBooks account.
  6. Click Continue, and then OK.
  7. Go back to your Banking Feeds dropdown, then choose Banking Feeds Center.
  8. Choose the name of your bank, then click Transaction List.
  9. Review your transactions.

 

For step 2, which is matching your transactions, you can access this material and follow the given steps: Add and match Bank Feed transactions in QuickBooks Desktop

 

Once your accounts are ready to be reconciled, you can use these resources as a guide to view the step-by-step details regarding reconciliation and what to do if you encounter issues:

 

 

If you have more questions about matching your transactions, please let us know. We'll be glad to help you out.


Ok now I'm confused and I'm deleting data back and forth and it's messing me up. I wasted enough time on this as is.

 

I need to reconciliate my old bank, which is why I'm using import for all the old data. After I clean it up to date, I want to use bank direct so it would show most recent transaction I need to fix.

 

Doing so doesnt allow me to use my main "Bank" only one of the feeds allow that spot. Bank feed or web download. It prompts me to create a new account, but doesnt that get too annoying with so much charts of accounts?

 

Situation now is that I've cleaned up my web download under "Bank." I have another chart of account set up as "Chase Bank" can I combine the two? Can I even delete the web download after, and it will be saved under bank or transaction even if I use direct bank to "Bank"

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