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patrick56
September 8, 2024
Question

Reconcile - auto-import statements not working (Bank of America Small Business)

  • September 8, 2024
  • 1 reply
  • 0 views

This question is not related to QBO linking to bank accounts for the register. This is a question specifically for whether Bank of America has the ability to automatically download statements to QuickBooks Online for help with reconciliation. I tried connecting an account (my Bank of America accounts are all Small Business) and it said it could take several days. I checked a week later, and in Bookkeeping --> Reconcile, one account says:

"Your statements haven't come in yet, but we're working on it.
Check back in a few days. Refresh Now."

 

This checking account said to wait... but wait, as I write this, it did end up working now. Weird! For at least the Small Business Checking account... it imported 3 statements.
 
But the Credit Card statement auto-import doesn't work with the following message appearing: "

Your bank says this account isn't eligible to receive statements.

Check with them directly to find out more."
 
Ugh... Bank of America would NOT know what I was talking about if I brought this up with them.
 
Is there any way to import more statements? I need them for 12+ months as my accountant wasn't able to find errors in reconciliation that prevented the Reconcile process from occurring. I was thinking the auto-import may help with this by providing more data somehow.

1 reply

JenoP
JenoP
September 8, 2024

Bank of America is one of the banks that allows for the automatic import of financial statements, patrick56. Let me provide some additional details to guide you on this.

 

Please note that not all account types are currently eligible for this feature. This is why you're seeing a message about it not being available for your credit card account. Rest assured that we're working with your bank to expand the availability of this feature across all account types.

 

In the meantime, you can still download your credit card statements using the regular online banking features. Then, you can manually match or categorize your transactions so they are automatically cleared or checked off on the Reconciliation page. This will allow you to continue managing your finances, even without the auto-import functionality for that particular account type.

 

With regards to getting more than a year's worth of data, some banks allow you to download the last 90 days of transactions, while others may provide up to 24 months of history.

 

In case Bank of America provides an even longer transaction history, click the drop-down list for Report period and make sure to select All Dates so you can access the maximum available data.

 

If an error message shows up, follow the steps in these articles for troubleshooting steps:

 

 

If you need additional reference materials while working with your banking data, feel free to check out or bookmark these articles:

 

 

Remember, you can always come back here and ask follow-up questions if you need further assistance with your reconciliations or other financial-related tasks. We'll be happy to jump back in and provide additional support.

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