A Comprehensive Guide On How To Add A Bank Account In Quickbooks Pro
There was a time when maintaining accounts used to be a hectic task, but after the development of various applications and software, it has become easier for the users to maintain the accounts and maintain other related matters. At present, there are multiple software available for maintaining accounts, but Quickbooks is a software package that is developed for both on-premises and cloud-based versions that enables one to accept business payments and easily manage payroll functions.
However, before the user starts to reconcile their bank accounts and start performing any of the major accounting processes, one needs to ensure that they have added the bank accounts and opening balances to the Quickbooks Pro software. Further, for the users who are looking for information on how to add a bank account in Quickbooks pro, they can check out the information mentioned in this article and manage their accounts easily.
Procedure to add a new bank account in Quickbooks
Well, the procedure to add a new bank account in Quickbooks online is quite simple, but one needs to follow the provided instructions carefully to avoid any issues. So, to begin the process the user is required to click on the Company option and opt for the new option under the chart of accounts sub-section.
1. Pick a suitable account type
- Click on the Bank option and proceed by clicking on the Continue button.
2. Now, name the account
- Pick an appropriate name for the account like savings or checking. Further, one can also seek help from the “ Select from examples” option.
3. Attach a sub-account to the main account
- Well, most of the users skip this step, but one can mark their account as a sub-account for another account.
4. Provide a nice description for the account
- It is suggested that the user provide a good account description to make it easier for them to recognize the account from the chart of accounts.
5. Enter the bank account number
- Now, enter the bank account number in the space and proceed with the next step.
6. Provide the routing number
- Further, the user needs to mention the routing number for the particular bank account.
7. Select a tax-line mapping for the back account
The tax-line mapping feature is used by the accountants and tax professionals who use Quickbooks to create an Income tax preparation report. So, for those who are not tax professionals, it is suggested that they skip this particular step and hop on to the next step.
8. Now, provide an opening balance
- For the users who have an opening balance, they can mention the same in the opening balance space and select a date for the particular balance.
- Once the user finds the information provided is correct, they can click on the Ok button.
9. Select the check settings
- The user can enter the desired check settings for their bank account.
10. Save the bank account
- After entering the proper details, the user can click on the Save and close button to add a new bank account in Quickbooks online.
11. Enable live bank feeds
- Lastly, the user can enable the live feeds for their bank accounts, which is completely optional.
Thus, this is the procedure that one can follow to add a new bank account in Quickbooks online. In case, if anyone encounters any issue, they can contact the support or visit the community page to seek required help regarding the process and easily manage their financial tasks.
How to fix QuickBooks bank feeds not working?
QuickBooks is popular accounting software that is developed by intuit. It has so many advanced features which help Business owners in managing their business in a mannered way. Bank Feed is an important feature of QuickBooks. Bank Feeds allows you to connect your Bank and credit card account to QuickBooks and feeds the transactions automatically into the banking center each day. Everyone wonders about how to QuickBooks bank feeds not working but it can be fixed. Using Bank Feeds, you can match your transactions in your database.
Sometimes, it has Bank Feed Errors in QuickBooks Online but we can resolve it in various ways. Here we will discuss the causes of QuickBooks Bank Feeds issues and methods to resolve it. If you have any issues, then you can contact customer support.
Cause of the QuickBooks Bank
Besides fixing the issue, we should always know the reason behind the issue of QuickBooks. Some of the causes of QuickBooks bank are:
- Syncing problem in between QuickBooks and Bank
- QuickBooks doesn’t support that particular bank
- Importing a transaction which is older than 90 days.
- Connectivity problem.
It has simple and easy steps to fix the QuickBooks problem. If you want to fix the issue of QuickBooks, then you have to follow the below steps.
Check the connection of QuickBooks with the bank: Make sure you check the connection of QuickBooks with the bank. Follow the process to fix the connection.
There can be a situation when QuickBooks cannot connect to your Bank. Follow the below steps in order to fix it:
- First of all, you need to login to your QuickBooks account and choose banking option.
- Choose the account where you are facing trouble.
- Now, tap the Bank and Credit Cards option.
- Click on Update option.
Correct password: Always enter the correct password otherwise these types of issues will come in the QuickBooks. Follow the below steps.
- Go to the Banking Center in the QuickBooks menu.
- Choose the pencil icon at the top right of the account tile.
- Now select the Edit sign-in tab.
- The Update window will appear where you can update your User ID and password.
Broken connection with the bank: Sometimes, the problems occur because of the loss of connectivity with the bank. To fix the issue, follow the below procedure –
In the above situation, the connection between the bank and QuickBooks is broken. First, you have to disconnect the QB account from the bank and then reconnect it.
- Visit the Banking Center in the QuickBooks file menu.
- Tap the pencil icon at the top right corner.
- Now, you need to choose the Edit account info.
- Choose the option Disconnect this account on save and then Save and close.
- Again open the Banking Center and then connect the account again to the Bank.
Using the above ways, the user can easily fix the issue of QuickBooks bank feeds not working in a simple manner. If you need any kind of help, you can contact QuickBooks Support Phone Number. The QuickBooks has provided a passionate customer support team for its customers so that they can give necessary assistance when needed. They are accessible all time in your service. You can go to the assistance table.