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JackMart
March 16, 2023
Solved

Bank Feed vs Online Banking?

  • March 16, 2023
  • 1 reply
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I just got the warning that QBs desktop is being discontinued. I see that some of the add-ons for QBs will no longer work for the desktop version. 

This is what it says... "Your access to QuickBooks Desktop Payroll Services, Live Support, Online Backup, Online Banking, and other services through QuickBooks Desktop 2020 software will be discontinued after May 31, 2023. This also means you won't receive critical security updates starting June 1, 2023. If you receive any security updates before this date, install them."

 

We don't use Payroll, Support or Online Backup. We do import bank feeds but that seems to be different from Online banking. I'm just trying to figure out if I can determine what adds we use, if any, and get some clarification about downloading bank feeds vs online banking.

 

Thanks!

Best answer by Pete_Mc

If you're downloading .QBO or .CSV files from your bank and Importing them into your QBs, then I believe you can continue as long as you want.

 

It is all the interactive Online options that QBs does itself (Bank Feed, Payroll Services, etc.), any kind of Support you might want from Intuit/QBs and Security Updates that will end.  So basically you are your own little island after the cutoff date.  But a lot of people do this.

1 reply

P
Pete_Mc
March 16, 2023

Yes, this is the norm for QBs to stop support and services (including Bank Feed) every 3 years.

 

First, Desktop is not being discontinued (to my knowledge), I think the notice you got was that Support and various Services were being discontinued. 

 

To continue using Bank Feed, you'll need to get the latest version of QB Desktop, which is now a Subscription (but different from QB Online).  If you don't want to use Online Banking, your QBs will not stop working, you can keep using it as long as you want.  But there will be no Support from QBs.

 

I'm not thrilled about Intuit/QB's decision to go to the subscription that basically equates to updating every two years vs. three years as we did with the old Desktop model.  Right now they're the big dog in the market, but they're setting themselves up for some leaner competitor to come along and take a huge chunk of their business. 

J
JackMartAuthor
March 22, 2023

So the downloading the bankfeed via my bank and uploading it to QBs is part of online banking through qbs? I figured since it was just downloading a file through my bank and uploading it into QBs it was different from online banking but like I said I'm not sure what is meant by online banking. Can you provide some clarification as to what online banking includes? 

P
Pete_McAnswer
March 22, 2023

If you're downloading .QBO or .CSV files from your bank and Importing them into your QBs, then I believe you can continue as long as you want.

 

It is all the interactive Online options that QBs does itself (Bank Feed, Payroll Services, etc.), any kind of Support you might want from Intuit/QBs and Security Updates that will end.  So basically you are your own little island after the cutoff date.  But a lot of people do this.

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