If the time comes to discuss the importance of QuickBooks in building the baseline of small businesses, the words of appreciation will always go in favor of this most trusted account management software. Every time a new introduction in QuickBooks accounting brings something beneficial to users and makes their tasks easier than before.
Here, we are going to discuss the direct feeds and how bank account can be connected to QuickBooks Via Direct Feed or QuickBooks Online Support
A form of regular transaction information sent directly to the accounting software is named as direct feed. A series of automatic updates are sent daily, once the simple configuration of QuickBooks direct data feed is successfully done. And the major point to feel relaxed about this feature is that possibilities of data error due to manual entry are too less as it is automatic.
Other than this, no one can doubt security & connection reliability, even assured data accuracy is figured out in form of automatic transaction updates. After a successful connection with the accounting software, extra hassle of putting the sign in information again & again is also reduced.
Well! Before going further, you should have understood that direct feeds give eligibility to which account categories. Basically, there are three kinds of bank feeds-Direct Feeds, Yodlee feeds and Paypal feeds.
To which business accounts does QuickBooks give eligibility for direct feeds?
When it comes to QuickBooks, it supports business accounts of the following banks:
- Royal Bank of Scotland
- Heritage bank limited
- BDCU alliance bank and many more.
Currently, there is no direct feed support for personal & credit card accounts.
How To sign up for Direct Feed?
We can understand it in three different conditions–Step by step procedure for all three conditions is discussed separately below.
Condition 1: IF ALREADY STANDARD FEED ACCOUNT EXISTS
- Sign in QuickBooks Online account
- Go to left menu, choose banking to open bank and cards page
- Now, choose standard feed account and click “get a better connection” at message suggesting to improve your way to get transactions in few steps.
- After that, you need to bank account by following instructions displayed on the screen. This will create “client authority form” for you.
- You need to give hand signatures in the form. ( In case of more than one signatory, the signature of everyone is mandatory)
- Next post form to intuit, PO Box 73145, London EC3P 3DH
Condition 2: STANDARD FEED ACCOUNT DOES NOT EXIST
- Sign in QuickBooks & choose banking same as done in condition1
- Click “add account” if an account is already connected, and then add “standard feed account” by following instructions on screens
- Once standard feed account is added, choose it on banking page and click “get a better connection” as did in condition.
- Now create “client authority form” and follow the same procedure as mentioned in condition.
Condition 3: IF YOU WON’T WANT TO GO WITH STANDARD FEED ACCOUNT
You choose the straightforward way of customizing direct feed account
- Login QuickBooks online, choose Banking to open bank & card page
- Next click “add account” if you have already an account connected.
- Choose the bank name, for which you want to configure a direct feed account
- Now, select I’m a pro, see another option
- After that create client authority form and further procedure same as mentioned in condition.
Connecting bank account to QuickBooks- A step by step procedure
1 Search & locate your bank
2 Connect back to the accounting software QuickBooks
3 Link account
4 The message will show “success!”, once the account is successfully linked in QuickBooks.
After carefully reading this blog, you can now confidently utilize direct feed method for connecting your bank account to QuickBooks. If at certain points, you are not able to understand the method or the procedure, you can join QuickBooks Customer Support representatives dialing toll-free QuickBooks Phone Number