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accounts416
Level 1

How can i get updated entries as per bank record

 
1 Comment 1
Rea_M
Moderator

How can i get updated entries as per bank record

Hello there, @accounts416.

 

When you've added your bank account to QuickBooks Online (QBO), there are two options to get updated entries as per your financial institution's record:

  • Manually upload bank transactions.
  • Connect your bank through the online banking feature.

 

You can manually upload your transactions when you're unable to add your account or you choose not to connect your account to the online banking feature. Then, it's also applicable when you just want to add transactions to keep your account updated. It's a two-way process wherein you'll be downloading a file (CSV or QBO) from your bank and upload it to QuickBooks. For the step-by-step guide, I'd recommend checking out this article: Manually upload transactions into QuickBooks Online.

 

The second option is when you connect your bank account to QBO. With this, the system will automatically download and categorises your transactions. All you have to do is review and approve them. Let me guide you how.

  1. Go to the Banking or Transactions menu.
  2. Select the Banking tab.
  3. Choose the Connect account button on the landing page if this is your first time connecting. Or select Add account or Link account if you've already created one.
  4. Search for your bank in the Enter your bank name or URL field.
  5. Select Continue. Enter the username and password you use for your bank's website.
  6. Follow the on-screen instructions to complete the process.

 

You can refer to this article for the complete details: Connect bank and credit card accounts to QuickBooks Online (Step 1).

 

Once your transactions are downloaded/uploaded, you'll have to review and/or match them to the entries in QuickBooks. This way, you're able to keep your account updated. You can check out this article for the detailed steps: Categorise and match online bank transactions in QuickBooks Online. It also includes information about excluding personal or duplicate transactions.

 

Additionally, I'd recommend reconciling your accounts every month. This is to effectively monitor the growth of your business and financial records. For the step-by-step guide, you can refer to this article: Reconcile an account in QuickBooks Online. It also provides details about editing completed reconciliations.

 

Please let me know if you have other concerns or follow-up inquiries about managing bank accounts and transactions in QBO. I'm just around to help. Take care always.