WizXpert is here, with another article on how to download bank feed transactions in QuickBooks Desktop. There are few points you need to remember before download bank feed transactions in QuickBooks Desktop. After setting up your accounts for bank feeds, you can start downloading transactions from your banks.
Meanwhile, if you need expert help, feel free to dial our helpline number +1-855-441-4417 to contact our support team.
- Before you start you need to take a backup of your company files.
- You cannot download multiple transactions to the same QuickBooks desktop company file more than once. But, your bank might be capable to revive transactions on its behalf so QuickBooks can download them again. Reach your bank to help with this.
- Web Connect only compatible with .qbo files. Other files like QFX and QIF Quicken files will not work. There are some third-party applications that can manage the QIF accessible on the Intuit marketplace.
Steps To Download Bank Feed transactions in QuickBooks Desktop
Go with the below if you want to download using Direct Connect
The very first, when you connect, QuickBooks downloads automatically the maximum possible transactions available from your bank. This is significant as QuickBooks can download. Depending on the bank, it can give you up to one year of past transactions. Most banks can only download the last 90 days.
- Open QuickBooks and go to the Banking menu and click on it.
- Later, look for the Bank Feeds and click on Bank Feeds Center.
- Select the account that you need to connect from the Bank Accounts list. This is optional, under the Send items to your bank section, you are allowed to edit or delete items just by clicking the drop-down.
- Click on Download Transactions, when you are ready to receive your transactions
- Note: If you have already downloaded transactions, but have not yet examined them, click on the transaction list. See how to review them here.
- Click on Synchronize. If you only need to download transactions for a particular account, choose Sync this account. Or if in case you need to download transactions for all your accounts in one bank, click on sync all for this bank.
- Insert your PIN or password to connect to your bank, under the Access to the window.
- Click on OK.
After downloading the transaction, you must match or add any new ones.
Note: You are allowed to delete any remaining (already matched/added) transactions by removing the statement. To avoid duplicate records, you cannot download them again once you delete downloaded transactions.
Suggested Read: The Accountant’s Guide For QuickBooks Online Bank Feeds
Go with the below if you want to Download using Web Connect
Some banks let you set a date range for downloads. If your bank doesn’t have this option, you automatically get the maximum number of transactions available the first time you download. This may be 30, 60, 90 days, or further depending on the bank.
There are two methods to import transactions through Web Connect:
If you’re using QuickBooks Desktop
- Open QuickBooks, look for the Banking menu and click on it.
- Now, look for the Bank Feeds and click on Banking Center.
- Here, find your bank and click on Download Transactions. This will initiate a browser window redirect to your bank’s website.
- Log in to your bank’s website and download the Web Connect file.
If you’re outside of QuickBooks Desktop
- Open any one of your web browsers on your computer and open your bank’s website.
- Log in to your bank account by using a normal sign-in process(username and password).
- Now, download your transactions as a QuickBooks Web Connect (.qbo) file.
- Once you have downloaded the Web Connect file, later import these downloaded files into QuickBooks Desktop.
Note: Every bank has a distinct process for downloading QuickBooks Web Connect files. If you are not assured how to perform this, then we recommend you visit the bank’s website and look for their steps. If you still can not get any way then reach out to your bank for guidance.
Hope, this article will be helpful to you to download bank feed transactions in QuickBooks Desktop. If you still have any issue and query then feel free to contact us on our toll-free +1-855-441-4417 and directly get-in-touch with our Intuit Certified ProAdvisors and get instant solution.