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dharris2
March 17, 2021
Question

Re-establishing A Previously Linked Bank Account

  • March 17, 2021
  • 1 reply
  • 0 views

I had a bank trust account linked to QB but deleted it for reasons I can't remember. Now, my accountant says that I have to re-link it. I set up the bank account again (Trust Account) and set the starting balance as the balance on December 31, 2019.  I then downloaded the transactions but only January, February and part of March along with December 13th 2020 onward were pulled in. I am missing most of the year and I don't know how to manually enter transactions that were transfers to and from my checking account without creating a second entry in the checking account.

Help!

1 reply

J
JamesM4
March 17, 2021

Hi dharris2,

 

Great job on reconnecting your bank. The Banking module in QuickBooks makes it fun and intuitive to manage your business and I'll be happy to share more info so you can start organizing your transactions. 

 

When you connect your online bank and credit card accounts, QuickBooks Online downloads the last 90 days of transactions. QuickBooks automatically downloads new transactions nightly around 10 PM PT. Here's how you can add the missing transactions: 

 

Step 1:Check to see the latest transaction date in QuickBooks so you know which date to start with when importing from the bank. Here's how:

  1. In QuickBooks, go to the Accounting menu and then select Chart of Accounts.
  2. Find the bank or credit card account you want to upload the transactions into.
  3. Select Account history.
  4. Find and write down the date of the oldest transaction. Usually, the oldest transaction is the opening balance.

From here, you'll have to log into your bank and download the transactions: 

  1. Sign in to your bank or credit card’s website.
  2. Look for and follow your bank’s steps to download transactions. Every financial institution has different steps.
  3. Check the date range for the download. It should be at least one day before the date of your oldest transaction.
  4. Download your transactions. Save the file somewhere you can easily find it, like your computer's desktop.

I recommend checking out this helpful article which shows you the remaining steps required in order to successfully import your transactions. You can delete duplicate transactions by clicking on the Categorized tab on your Banking screen and from here, select the duplicate transactions and hit Undo. This will bring the transactions back to the For review tab so you can Exclude them. 

 

I encourage you to give this a try and if you have questions, feel free to reach back to me in the comments below. I've got your back. 

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