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R
reolsen
August 11, 2020
Question

Set Up Bank Feed to Existing QuickBook Accounts

  • August 11, 2020
  • 2 replies
  • 0 views

I am trying to set up bank feeds to existing deposit accounts in QuickBooks Desktop.  I follow the drill, connect to my bank online, and see a list of three accounts at the bank not yet set up for bank feed on the left and, on the right, three drop down menus under the heading Select Account or Create New (or something like that).  However, when I click on the drop down menus, I don't see the names of the accounts previously established in QuickBooks, so there's no account to select and move forward.  Where do I go from here?

 

2 replies

MJoy_D
MJoy_D
August 11, 2020

Let's connect your bank account, @reolsen.

 

You must set up an account from your Chart of Accounts. You can click on the Create New Account button to set up a bank account. You can also go to the Lists menu to set up a bank account. Here’s how:

  1. Go to the Lists menu and then Chart of Accounts.
  2. On the Account dropdown, click on New.
  3. On the Choose Account Type window, select Bank and Continue.
  4. On the Add New Account window:
  5. Set a Bank Name.
  6. Select the Enter Opening Balance button and based on your bank statement, type in your Statement Ending Balance and Statement Ending Date. More information about opening balance is available here.
  7. Click OK and then Save & Close.

Check this article for more information: Get started with Bank Feeds for QuickBooks Desktop. 

 

Once done, you can now proceed and connect your bank account. From here, you can now start downloading transactions from your banks. Read this article for more information: Download Bank Feed transactions in QuickBooks Desktop. 

 

I'm always here if you need more help in setting up your bank connection. Have a great rest of the day!

R
reolsenAuthor
August 11, 2020

Thanks for your reply.  As I tried to indicate in my initial question, all three accounts have long been set up in QuickBooks.  I use them all the time.  So there are no new accounts to add.  (I would prefer not to add new accounts and then try to merge them with existing accounts in QuickBooks.)  I am trying to download transaction data into existing account but I am not being given an opportunity in QuickBooks to select the existing accounts.

M
Mark_R
August 11, 2020

I appreciate you getting back to us, @reolsen.

 

There are two possible reasons why you can't select your existing bank account from your bank feeds to download your transactions. It could be:

 

  • Your bank is having a website maintenance as of that moment.
  • Your QuickBooks release version is not updated.

I'd recommend verifying the website maintenance from your bank. You can attempt to reconnect your bank after their website maintenance.

 

However, if they don't have website maintenance, let's update your QuickBooks release version. Here's how:

 

  1. Go to the Help menu, then select Update QuickBooks Desktop.
  2. Select the Update now tab.
  3. Put a checkmark in the Reset Update checkbox.
  4. Click Get Updated tp start the download.
  5. Once done, restart your QuickBooks Desktop and accept the option to install the new release.

I'm adding this article for more details: Update QuickBooks Desktop to the latest release.

 

After updating the latest version, you can now select your existing bank accounts from the bank feeds and download your transactions from there. 

 

You might also want to check out this article to learn how to match transactions in QuickBooks Desktop: Add and match Bank Feed transactions.

 

If you need any additional assistance while managing your bank transactions, you can leave a comment below. I'll be sure to get back to you.

G
glennbarbercpa
August 15, 2021

I had the same problem. I fixed it by Choosing Chart of Accounts, Edit Account, for the account I wanted to use that wasn't in the drop down list. Once in Edit Account, there should be two tabs at the top, one for General and one for Bank feeds.  Choose, Bank Feeds and then choose the Deactivate box.  Now, go back to upload the manual QBO file or connect for the direct feed and you should see now the account you were looking for previously but wasn't there.  Try this first before all the other suggestions.

D
dkeiner
March 8, 2022

I have a problem that might be similar to this issue. I am new to QBO and using bank feed (since January) When I set up my banking feed, it created the account shown on the attached JPG. I believe I should have it feeding into my COA #1005 which is the checking account. I would like to fix this but worry about the transactions that have already been fed since January. Can someone please provide the steps for me to fix the bank feed and make sure all transactions come over correctly and not duplicative of what came over previously.

M
MirriamM
March 8, 2022

Hi there, @dkeiner. I'm here to lend a hand.

 

If you have two bank accounts, 1 is connected to online banking in your QuickBooks Online (QBO) account and the other is not, the option to merge is unavailable. You may need to choose what to keep or use moving forward. 

 

If you decided to keep the bank account that is connected to online banking, you can manually upload transactions by clicking the Upload from file option on the Banking page.

 

Here's how:

  1. On the left navigation bar, click Banking or Transactions menu.
  2. Go to the Banking tab.
  3. Select the blue tile for the account you want to upload the transactions into.
  4. Choose the Link account ▼ dropdown and click Upload from file. 
  5. Click Browse.
  6. Choose the file you want to upload.
  7. Click Next. 
  8. Under QuickBooks Account, select the bank account, then press Next.
  9. Map the columns and click Next.
  10. Select the transactions to import and hit Next until finish.

 

But if you want to connect the other one, you can link it to online banking to automatically download bank transactions up to a certain date. 

 

Additionally, if duplicate transactions are showing, you can exclude the transactions.

  1. On the left navigation bar, click Banking or Transactions menu.
  2. Go to the Banking tab.
  3. Choose the account that is showing duplicate.
  4. Click the For Review tab.
  5. Mark the checkbox of the transactions you want to exclude.
  6. Select the Exclude option

 

For more insights about the process above, please check out these articles: 

 

For future help, here's an article you can use to reconcile the account in QuickBooks: Reconcile an account in QuickBooks Online.

 

On the other hand, if you’re referring to something else, please let me know and kindly attach the JPG file again, so I can provide the most accurate resolution.

 

Drop me a comment below if you have any other questions. I'll be happy to help you some more. Keep safe and have a great day!

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