Live Support
+1-802-778-9005The online banking feature allows its users to connect their bank accounts with the QuickBooks software so that they can easily track their income and expenses. This also helps you to streamline your bookkeeping process and save valuable time as you don’t have to enter each transaction manually.
When the transactions are started displaying on your QuickBooks software, you have to accept them and then compare the balance against your bank account to do reconciliation at the end of every fiscal period.
Below are certain things you need to keep in mind when downloading the bank feed transactions in QuickBooks Desktop, which include:
There are two methods to download bank feed transactions, including Direct Connect or Web Connect, and you can select any one of them if you want to import transactions manually. Below, we have discussed how each method can be downloaded and used on a QuickBooks desktop.
You can download bank feed transactions in these scenarios; one is when you are using QuickBooks software, and the other is when you are outside of QuickBooks.
If You’re Using QuickBooks Desktop
When you connect for the first time, QuickBooks automatically downloads the maximum limit of transactions available from your Bank. It totally depends on your Bank, and this can give you up to a year of historical transactions. However, most of the banks may only download 90 days of historical transactions.
Adhere to the following steps to download transactions using Direct Connect:
Note: If you’ve already downloaded the transactions but haven’t reviewed them yet, check for the Transaction List.
Important: You can delete any remaining (previously matched/added) transactions or statements. Once you delete your downloaded transactions, you won’t be able to re-download them. This will avoid duplicate entries or data redundancy.
Some banks allow you to set a date range for downloads, but if your Bank doesn’t have this option, you can automatically get the maximum number of transactions available when you download. The range may be from 30, 60, 90 days, or more days, depending on your Bank.
You can import transactions from Web Connect using two different ways, which are as follows:
If you’re using QuickBooks Desktop
Note: Every Bank has different ways to download QuickBooks Web Connect files. If you’re not sure about how to do it, visit your Bank’s website and follow the on-screen instructions or reach out to the nearby branch for help.
With online banking, QuickBooks connects to your bank in one of two ways:
Here’s how to download and import your transactions in both ways.
Note: QuickBooks doesn’t control which transactions are downloaded from your bank. It only shows the info received from your bank.
When you download transactions through Web Connect, QuickBooks opens them from a .qbo file. Let’s download and import this file into QuickBooks.
Note: You can also download transactions outside of QuickBooks. Just open a browser and go to your bank’s website.
Note: Steps on how to download QuickBooks Web Connect files vary per bank. If you’re not sure how to download the .qbo file from their website, immediately contact your bank for help.
Direct Connect downloads transactions directly from your bank to QuickBooks. You don’t need to import your transactions as they’re made available in your register when you download.
In QuickBooks Desktop, you have the option to use Bank Feeds to connect your Bank or credit card accounts to online banking services. When you download your bank transactions, you don’t have to record them manually. There are two ways to set up an account, including Connect with Direct Connect or Web Connect. The way you connect depends on what is available at your Bank.
Note: Make sure you have a PIN or password from your Bank’s end to use this method.
After setting up the account, you can download your online statements to your Bank Feeds. However, if you’re downloading transactions for the first time, QuickBooks will automatically set up an account for Bank Feeds.
Important: Check with your Bank if there’s a fee or if the service is free when you start setting up your account.
For online banking setup, your Bank offers a Customer ID and password (or PIN) to every customer.
You may also need the following things:
Account Type at Financial Institution | Account type in QuickBooks |
Checking | Bank |
Savings | Bank |
Money Market | Bank |
Line of Credit | Bank |
Credit card | Credit card |
Line of Credit | Other current liability |
If you’re a new user or enrolling for the first time, click on the Enrollment Site link and then apply for Direct Connect. However, if your Bank needs to approve your application, contact them or ask them if you need special sign-in credentials.
Once you log in successfully, do the following:
To download your company’s transactions from your Bank or credit card, you can use a .QBO file in case your Bank doesn’t offer Direct Connect. Then, you need to import that file to QuickBooks and add such transactions to your accounts.
If your Bank offers Web Connect:
To change or edit your login and other info related to the bank account you use with QuickBooks Desktop, you are required to turn off your Bank Feeds and then set it up again.
QuickBooks Desktop for Windows
QuickBooks Desktop for Mac
Bank feeds are a digital link that automatically downloads transactions from your bank account to your accounting software on a digital basis. You can then work with the data by creating new transactions as needed or match bank transactions to your financial institution. Once set up, the feed automatically sends transaction information from your bank account to your accounting software, helping provide you with an up-to-date view of your business finances in one place.
If you can’t find recent transactions in QuickBooks, make sure that you’ve set the correct date range for before downloading the bank feeds. Adjust the date filter to include the time frame that you want to view in your transactions.
Or, follow the steps below:
The Bank Feeds logs record what happens during an online connection with your bank. If the connection fails, or you get an error, the logs can help pinpoint the failure. There’s a preference to create log files. Make sure you enable this before you reproduce the bank feeds issue.
Here’s how:
You can manually upload transactions if you want to enter old transactions, can’t find your bank, or connect it to QuickBooks.
Here are the steps:
Note: If your account is not connected yet to online banking, click Upload from file.
Note: If you’re new to QuickBooks, you may not have an account to upload the transactions into. If you don’t see one, click Add New from the drop-down to create a new bank account.
When you connect your bank to QuickBooks, the system downloads up to the last 90 days of transactions. If you need transactions that are more than 90 days old, you can import your bank statement or enter the transactions manually into your account before connecting to a bank feed.
Yes, if you want a detailed list of all your transactions, you can export them into a CSV file.
Here are the steps to download the transactions:
Note: Receipts aren’t exported. You can download them from specific transactions. Or move to the Reports menu and then download all of your receipts for specific tax years.
Disclaimer: The information outlined above for “How to Download the Bank Feed Transactions in QuickBooks Desktop?” is applicable to all supported versions, including QuickBooks Desktop Pro, Premier, Accountant, and Enterprise. It is designed to work with operating systems such as Windows 7, 10, and 11, as well as macOS.