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wa4veg
January 4, 2024
Question

Linking Fidelity Investments to Quickbooks.

  • January 4, 2024
  • 1 reply
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Transactions transferring from Fidelity Investments to Quickbooks.

    1 reply

    R
    ReymondO
    January 4, 2024

    Hey there, @wa4veg.

     

    Let me help you connect your bank or credit card account so you don’t have to enter your transactions manually. 

     

    1. Go to Transactions, then select Bank transactions.
    2. Click Link Account.
    3. Enter the URL or name of your bank in the Search field and select the bank.
    4. Enter your Sign info in the Login and Password fields, then select Continue.
    5. Choose the account that you want to connect and date to pull transactions from the dropdown ▼. Then, click Next.
    6. Select your account type on the Account type ▼ dropdown, then click Next. If you don’t see the correct account type, select +Add new.
    7. Click Connect, then select Done.

     

    Please note that some banks allow you to download the last 90 days of transactions, while others can go back as far as 24 months.

     

    After you connect your bank and credit card accounts, QuickBooks automatically downloads the latest transactions and suggests categories based on how you and other customers categorized similar transactions. If you can't find your bank, you can manually upload transactions instead. 

     

    After your transactions are in, it's time to categorize them so they will be posted to the right accounts.

     

    If you need further assistance in connecting Fidelity Investments to QuickBooks, just add them to the thread so I can help you out. Have a great day.

    W
    wa4vegAuthor
    January 4, 2024

    I've successfully linked the Fidelity accounts such that transactions are appearing in QBs. However, often there are duplicate entries of same absolute value differing only by sign: (+) vs. (-). I can exclude the wrong ones in these cases but there are others, not duplicated, but the sign is reversed, e.g.. (-) should be (+). 

     

    (Fidelity classifies the three accounts as "mutual fund accounts".)

    M
    MirriamM
    January 4, 2024

    Hi there, wa4veg. I appreciate you getting back to us and providing additional information about your bank transactions concern.

     

    Let me share information on how online banking works in QuickBooks Online (QBO).

     

    The data we receive in QuickBooks depends on the information sent to us by the financial institution. As a result, once you connect your online banking to QBO, the transactions that appear on your account match those on your bank statement. I advise verifying your bank statement for the transactions recorded on your QBO account. But if the transactions show correctly on your bank statement, you can consider excluding the erroneous transactions nga na download, then manually import the correct ones.

     

    For future reference, here's an article you can check for the best practices when reconciling your account: Learn the reconcile workflow in QuickBooks. It also provides information on what to do when encountering challenges during the reconciliation process.

      

    If you have any further questions regarding bank transactions, please don't hesitate to contact us. We're ready to assist. Enjoy your day.

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