Most users use QuickBooks for tracking and managing the financial records for their businesses. If you are one of them, you should ponder over setting up bank feeds for your QuickBooks. But you must understand that this feature is available only for the desktop versions of QuickBooks which are QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise. Once set up, Bank feeds will automatically connect to your financial institution and keep track of all the transactions. You will be able to monitor and manage the transactions from within your QuickBooks. It is not obligatory to use the bank feeds with your QuickBooks but we highly recommend the service as it saves you time.
Get your Bank feeds set up right now by calling on the toll-free QuickBooks Support Phone Number +1-866-656-1012 of 247techsupportnumber. The QuickBooks ProAdvisors will gladly set up your Bank feeds and also assist in managing your transactions. You can contact them 24 hours and 7 days of the week.
How To Check If Your Bank Is Compatible With QuickBooks Bank Feeds?
Needless to say, this is the first step of setting up your bank feeds. Follow these steps to check if your bank is compatible with QuickBooks Bank feeds:
- Open your QuickBooks and go to Banking.
- Now, click on Bank feeds and choose Participating Financial Institutions.
- A list will appear on your screen which will contain names of all the banks and financial institutions of USA and Canada which support bank feeds.
- The list contains more than 1400 names of banks. Look for the name of your bank in the list.
- If your bank is listed it means that you can set up bank feeds. Otherwise, you would not be able to use Bank feeds in your QuickBooks.
How To Connect Your Bank Account?
There are two ways of connecting your Bank account: Direct Connect and Web Connect.
If you use Direct Connect for connecting your Bank account, QuickBooks will automatically all the information from your bank account. But you have to validate your account by providing relevant account credentials like your PIN or password. After you have set up your account, you will get an option for downloading the bank statements straight into your bank feeds in QuickBooks. Also, Direct connect enables you to utilize other services which are related to your accounts like Vendor Payments and Account transfers directly from your QuickBooks.
You can choose to use Web Connect for connecting your Bank account. But it only allows you to receive the bank data via your web browser like Internet Explorer, Google Chrome, and Mozilla Firefox. It also means that you would not get the option to directly send Vendor payments or transfer funds from your QuickBooks.
Both these services may incur some charges. So whether you’re using Web Connector Direct connect, you will have to bear some nominal charges. QB does not charge any business for using these services. But most financial institutions or banks charge their clients for using internet-based services like these. You can also connect with the QuickBooks ProAdvisors to check if your bank supports bank feeds and if you will have to bear any charges. Simply, call us on the QuickBooks Customer Support Phone Number +1-866-656-1012 to learn more about your QuickBooks and Bank Feeds.