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R
Rayzer
August 20, 2022
Question

Automatically enter income from linked bank account

  • August 20, 2022
  • 1 reply
  • 0 views

Hi, how do I get QB Self-Employed to take the information from my linked bank account and update everything automatically, i.e., income, expenses, etc. so I don’t have to manually enter each transaction? TIA

1 reply

DivinaMercy_N
DivinaMercy_N
August 20, 2022

Hi there, @Rayzer. I'm here to ensure you'll be able to automatically get updated transactions in QuickBooks Self-Employed (QBSE).

 

Let me first discuss information about the process.


With QBSE, you just need to connect your bank to automatically download the latest transactions. Once linked, it will download the 30 to 90 days of transactions, and in some cases up to a year (depends on the bank). This will help you to skip the manual entry. I'll guide you on how:

 

  1. Log in to your QBO account and select the profile ⚙ icon.
  2. From there, click Bank accounts.
  3. Next,  enter the name or URL of your bank in the search box. Then, click Continue. If you've already connected an account before, select Connect another.
  4. Input the sign-in info you use for your bank's website.
  5. When ready, select Connect securely.

 

Additionally, once transactions are already downloaded, the program will automatically categorize them for you. The only thing you need to do is to review and approve them.

 

For reference, feel free to visit this article: Connect bank and credit card accounts to QuickBooks Self-Employed.

 

If you notice that transactions are not updating, you can perform the manual update to refresh the connection of your account to the bank. Here's how:

 

  1. In your QBSE account, go to the Profile icon.
  2. Next, select the Bank accounts option.
  3. From there, click Refresh All.

 

I've also attached this awesome resource that you can read to make sure the categorized transactions in your QBSE company match the Schedule C.

 

I'd love to hear how this goes. I'd appreciate any details you can add. If you have follow-up queries about managing your transactions in QBSE, don't hesitate to leave a reply below. I'm always here in the Community to lend a hand and ensure your goals are met. Have a good one and take care.

    R
    RayzerAuthor
    August 22, 2022

    Hi Divina_N,

     

    Thank you for such a quick and detailed explanation to my question. Unfortunately I was unable to get it to work because after linking my bank it would say something like, ‘your bank has been successfully linked’ and a little while later it would show There was a problem connecting to my bank. I would click the re-connect button and instantly would get a ‘can’t connect, or the system was having problems now try again later’ message. The first time that happened I waited until the next day and it was still doing that so I just deleted and started over just to have the exact same thing happen. At that point, I was thoroughly frustrated and couldn’t waste anymore time trying to figure it out because I had to get back on the road. Since then, I have found another solution for my bookkeeping needs. Again, thank you for your help. 

    M
    Mark_R
    August 22, 2022

    Welcome back, @Rayzer.

     

    I can see you've been through a lot already in trying to download your bank transactions to QuickBooks Self-Employed. This way, you don't need to enter them manually.

     

    I'm happy you were able to get back to business. Please know that the Community team is always here to help with any questions you may have in QuickBooks.

     

    Have a good one.

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