How to Setup Bank Feeds in QuickBooks Desktop

What are Bank Feeds in QuickBooks Desktop?

Bank Feeds in QuickBooks Desktop automatically imports transactions from your bank and credit card accounts into QuickBooks. This feature eliminates manual data entry and helps you record and reconcile transactions quickly and accurately.

How to Set up or edit bank accounts for Bank Feeds in QuickBooks Desktop?

Bank Feeds lets you link your bank and credit card accounts to QuickBooks Desktop. Once connected, transactions download automatically, reducing manual entry. You can set up Bank Feeds using two methods: Direct Connect or Web Connect, depending on the services your bank offers.

Connect Your Account to Bank Feeds

You can set up your account using Direct Connect or Web Connect, based on your bank’s available services.

Using Direct Connect

Direct Connect requires a PIN or password from your bank. After setup, QuickBooks downloads electronic statements directly into Bank Feeds. The first download automatically creates a Bank Feeds account in QuickBooks.

Confirm with your bank whether Direct Connect is free or if any fees apply.

Bank-Provided Credentials Setup

Your bank will provide a Customer ID and password (or PIN) for setting up online banking.

You may also need the following details:

• Account Number: This number is assigned by your bank when the account is opened and appears on your statements. Contact your bank if you cannot find it.
• Routing Number: A 9-digit code used by banks to process transactions. You can usually find it on your checks. Contact your bank if it is not available.
• Account Type: Verify how your bank classifies the account. This classification may differ from QuickBooks categories.

Account Type at FI Account type in QB

Checking	Bank
Savings	Bank
Money Market	Bank
Line of Credit	Bank
Credit card	Credit card
Line of Credit	Other current liability

1. Go to Banking and select Bank Feeds.
2. Choose Set up Bank Feeds for an account.
3. In the Enter your Bank’s name field, type and select your bank.

If this is your first time enrolling, select the Enrollment Site link. You may need to apply for Direct Connect. If approval is required, contact your bank. Ask if you need special sign-in credentials.

After Enrollment

1. Select Continue.
2. Enter your Online Banking User ID and Password.
3. Select Connect to link QuickBooks with your bank’s server.
4. Choose the bank account you want to connect to QuickBooks.
5. Select Finish once the connection is complete.

Connect with Web Connect (.QBO) Files

If your bank does not support Direct Connect, you can download a .QBO file from your bank or credit card provider and import it into QuickBooks. This allows you to add transactions directly to your accounts.

Steps to Import a Web Connect File:

1. Go to Banking > Bank Feeds > Import Web Connect Files.
2. Select the .QBO file you saved from your bank, then choose Open.
3. When asked to select your bank account:
   • Choose an existing QuickBooks account if it’s already set up.
   • Create a new QuickBooks account if it doesn’t exist yet. Select Continue.
4. A confirmation box will appear letting you know the data has been successfully imported. Select OK.
5. Open the Bank Feeds Center to review and manage your transactions.

Change from Web Connect to Direct Connect or Direct Connect to Web Connect

To switch your connection method, you must disconnect Bank Feeds first. After disconnecting, set up Bank Feeds again using the new connection type.

Edit Bank Feed settings for bank or credit card accounts

You can update your login and other details for the bank account linked to QuickBooks Desktop. Simply turn off your Bank Feeds to make the changes, then set them up again.

1. Disconnect Bank Feeds for your account.
2. Update your login or other account details as needed.
3. Set up Bank Feeds again to reconnect with the updated information.

How to Download Bank Feed Transactions in QuickBooks Desktop

Once your accounts are set up for Bank Feeds, you can begin downloading transactions from your bank.

1. Always back up your QuickBooks company file before downloading transactions.
2. Transactions can only be downloaded into a QuickBooks Desktop company file once. If you need them again, your bank may be able to reopen the transactions for re-download. Contact your bank for assistance.
3. Web Connect supports only .QBO files. Other formats like QFX or QIF aren’t compatible. However, some third-party apps available on the Intuit Marketplace can handle QIF files.

Download transactions

Banks provide two methods for downloading transactions. Choose the option below to see how each works:

• Direct Connect
• Web Connect

Download Using Direct Connect

When you first connect with Direct Connect, QuickBooks automatically downloads the maximum number of transactions your bank allows. Some banks provide up to a year of history, while most only allow about 90 days.

1. Go to Banking.
2. Select Bank Feeds, then choose Bank Feeds Center.
3. From the Bank Accounts list, pick the account you want to connect.
   • (Optional) In the Send items to your bank section, select Online Checks to edit or cancel a payment.
4. Select Download Transactions when you’re ready.
   • If you’ve already downloaded but not reviewed them, choose Transaction List to review.
5. Select Synchronize:
   • Choose Sync this account to download only for the selected account.
   • Choose Sync all for this Bank to download for all accounts with the same bank.
6. In the Access to window, enter your bank PIN or password.
7. Select OK.

After downloading, review your transactions and either match them with existing records or add new ones.

Note: Any remaining transactions that have already been matched or added can be deleted. Once deleted, they cannot be downloaded again, which helps prevent duplicate entries.

Download using Web Connect

Some banks allow you to choose a date range for downloads. If your bank doesn’t provide this option, QuickBooks will automatically pull the maximum number of transactions available during your first download. This could be 30, 60, 90 days, or more, depending on your bank.

There are two methods to import transactions using Web Connect:

If you’re using QuickBooks Desktop

• Go to Banking.
• Select Bank Feeds, then choose Banking Center.
• Find your bank and select Download Transactions. A browser window will open with your bank’s website.
• Sign in to your bank’s website and download the QuickBooks Web Connect (.QBO) file.

If you’re outside of QuickBooks Desktop

1. Open your bank’s website in a web browser.
2. Sign in to your account.
3. Download the Web Connect (.QBO) file.
4. Import the file into QuickBooks Desktop following the standard Web Connect import process.

Note: Each bank has its own process for downloading Web Connect files. Check your bank’s website for instructions. If you can’t find the steps, contact your bank for assistance.

Once you have the .QBO file, follow the steps to import it into QuickBooks Desktop.

Error Message: “To download and import transactions, sign in with your Intuit account”

• If you use Advanced Mode in Bank Feeds, you may need to sign in to your Intuit Account or switch modes.
• Importing QuickBooks Online files requires signing in to your Intuit Account within QuickBooks Desktop.

Frequently Asked Questions