Bank Feeds, How to Connect

I want to make sure I am correct. YES, setting up bank feeds correctly is important to having bank feeds work and connect properly.

I am using Quick-books Desktop 2021 Pro version. These instructions describe the setup of automatic connecting and downloading of transactions from financial institutions.

MAKE A BACKUP OF THE COMPANY DATA each time a new bank feed is made.

A new backup keeps you from losing data because the bank feed connecting process requires your QB program to initiate a web connection to a different computer or server which may or may not have similar capabilities. Also, the bank feed process requires many parts of information working together to have success. I experienced many instances during the bank feed connecting process where my company file was compromised and spent many hours repairing and rebuilding files. Then, I had to spend many more hours searching for answers that were convoluted, beyond my capabilities, and simply not good enough.

Make sure you have passwords, usernames, and bank account numbers to any accounts before setting up bank feeds to your Quickbooks program.

I use Advanced Mode bank feed mode to view and enter downloaded transactions.

Make sure you have set up a new bank account to use in the Bank Feed process.

Set up the new bank account in the Chart of Accounts screen: At the top of the main Quickbooks screen select Lists, then select Chart of Accounts. On bottom of Chart of Accounts screen Click on Account, then select New. Follow instructions. Make sure the account number and routing number are correct. Now you can begin the CONNECT BANK FEES process.

This how I create a BANK FEED:

To initiate the Bank Feed setup process, from top of Quickbooks main screen menu bar

  [1] left click on the word Banking.

  [2] select the words Bank Feeds from drop down sub-menu.

  [3] select the words Set Up Bank Feed for an Account.

  [4] click Yes when asked to close all windows. (Bank Feed Setup screen should appear);

The Bank Feed Setup screen

     Enter your bank’s name in the box, then, select the appropriate name of your bank or credit card company from the Matching Results that appear. Understand, your Quickbooks program, your bank, or your credit card company may not support Quickbook Bank Feeds. After selecting the correct bank name, the Enroll in Direct Connect screen should appear.

In the Enroll in Direct Connect screen. Read first and then follow the instructions on the Enroll in Direct Connect screen, then click-on Continue found at the bottom right. (Step 2: Connect “your bank name” to QuickBooks screen should appear.)

Step 2: Connect “your bank name” to QuickBooks screen.

Enter the Username and Password used when logging on to the online bank or credit card account. Click the Connect button found at the bottom of the screen.  The Step-3: Link your accounts screen should appear.

Any problems are usually with the Username and/or Password. Usernames and/or Passwords are case sensitive. A best practice is to establish new bank feed connections when making any changes to the Password or Username to any accounts, with any connection problems, or with any problems in general. I have Parkinson’s disease, so the tremors make any typing a challenge. I type the password in another program within my computer first and make sure the password is correct, then, copy and paste the correct password in the box.

Step-3: Link your accounts screen.

In the Step-3 Link your accounts screen, an interactive line in the center of the screen shows your bank account on the left and a box with a drop-down menu capability on the right. The box to the right below where it says Quickbooks account, is where you select the account that matches the bank or credit card account shown to the left. Select a bank/credit card account from the drop-down sub-menu, that the web transmitted transactions will transmit to in your Quickbooks program. Then click on the Link button located at the bottom right. Your QuickBooks program will make the connection to your bank/credit card account. The status will read added if a connection was made.

Every bit of information the Bank Feed process uses, must match and are case sensitive. I made every attempt to correct problems (all types of problems) with Quickbooks. Most of the problems are with Bank Feeds that use account numbers, passwords, and usernames that must match.

I hope my efforts helped.