Setup Online Banking And Accounting Via QuickBooks

July 1, 2018 | Author: | Posted in Accounting Payroll

QuickBooks online banking is an important feature in QuickBooks and can be used efficiently by the users with the help of an immediate QuickBooks Support.

Linking your bank and credit card account to QuickBooks helps to eliminate the manual data entry to save your time and efforts. It keeps your books up to date and makes the reconciliation of the bank accounts much easier.

To start online banking in QuickBooks-

Connect your accounts

Go to the Homepage and locate Bank Accounts under which,  you have to click Connect an Account.

Choose Your Bank

Following the above-given series of action will lead you to a new page where you can choose your bank you want to connect with the QuickBooks. 

Sign In Your Bank Account

Provide the credentials (username and password) you use to access your accounts and click Sign In once you are done. 

Which Accounts Do You Want To Connect?

Here you can see all the accounts you have at this bank. You can choose one to connect and you need to tell the QuickBooks what type of account is this. The last 90 days transactions will be downloaded by QuickBooks.

Entering The Transactions

Before QuickBooks downloads your transactions, you may review and categorize your expenses. To categorize the transactions, click on Category or Match column.

Assign Category To The Transactions

Open a transaction, choose the right category from the transaction menu and click Add to save the transaction.

Evaluate Your Business Performance

You can see the overall performance of your business by observing the Profit and Loss on your dashboard.

Run Reports

You can run your report like Profit and Loss by which you can see the detailed expense categorization. This can help you to understand where your majority of the money has been spent. Also, you can see your expenditure as your income percentage.

Resolving The Errors In The Quickbooks Desktop Online Banking

When activating online banking in QuickBooks, there are some common errors that occur starts with “OL” or “OLSU”. To resolve these issues in QuickBooks you can get in instant QuickBooks Support. The various reasons for these issues may include the below-given points-

 

  • It is possible that the bank server is down and keep you off from the program. Bank sometimes may change its name or the method for the online banking making it necessary to make the changes in QuickBooks as well.
  • An interruption from the Internet connection problem can also lead to an error in completing the process.
  • It is possible that the problem is with your bank or credit card account in the company file.
  • An inappropriate format of the file being downloaded or imported may also cause the error.
  • Ensure that both the system or the QuickBooks version should be supportive otherwise the online banking service will also be discontinued along with the QuickBooks.

Hope this piece of information is helpful in setting online banking in QuickBooks and troubleshoot various errors that may occur while using it. You may get an immediate QuickBooks Support in the hours of technical unease.

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Backed by an extensive experience in the QuickBooks, the author has an impressive knowledge about the QuickBooks and its features. She has chosen to jot down on various QuickBooks issues to disseminate knowledge among the worldwide users of this ace accounting software.

Author:

I am Marya Smith. I am an ardent blogger, expresses my views on the importance of Quickbooks support in my blogs, that are considered to be highly beneficial for accounting software users.

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