QuickBooks Online’s most efficient and time-saving features are its Online Banking (so-called Bank Feeds). When you connect an account, QuickBooks facilitates the automated downloading and categorization of bank and credit card transaction details for you. It types the details, so you don’t have to enter transactions by using a manual setup. All you need to do is to approve the work.

Connect a bank or credit card account

You can connect as many accounts as you need. Feel free to connect accounts you use for both business and personal, but you will need to get sorted personal transactions as you go.

1. Visit the Banking menu or Transactions menu.

2. Choose the Banking tab.

3. Choose Connect Account on the redirected page in case it is you have connected for the first time, Or choose Add account or Link account in case you already have an existing account.

4. Look out for your bank name. Almost every Bank is there on the list, even the small credit unions.

5. Choose Continue. Type the username and password you use for your Bank’s website in the window.

6. (Tip: In case you cannot see your Bank there but still want to sum up your transactions to QuickBooks Online, you can also use the manual option to upload bank transactions.

Now follow various prompts to connect. Your bank may ask for additional security checks. It may take a few minutes to connect.

1. Choose the bank or credit card accounts you want to connect (savings, checking, or credit card). You should see all of your available accounts at your bank or credit card company.

2. For each account you connect, choose the matching account type from the dropdowns. These are the accounts on your chart of accounts in QuickBooks.

3. Choose how far back you want to download transactions. Few banks allow you to download a copy of the last 90 days of transactions. Others can go back as far as 24 months.

4. Choose Connect.

Connect bank accounts from your list of accounts

(Note: If you are unable to see your account in the dropdown list, then select + Add New. This command creates a new account on that list. Steps to create a new account:

Create a new bank account: choose Bank for the Account type. Choose Savings or Checking for the Detail type. Provide a unique name for your account and then tap on the Save and Close.)

Download Recent Transactions

Now you have successfully connected your account with QuickBooks. It will automatically regulate the downloads for your recent transaction, so you don’t have to type them manually. To refresh and get the latest transactions:

1. Visit the Banking menu or Transactions menu.

2. Choose the Banking tab.

3. Choose Update.

Categorize the Downloaded Transactions

After QuickBooks downloads transactions, you have to approve the way it has put them in categories.

Download the latest bank and credit card transactions

For almost every Bank, QuickBooks downloads the latest transactions every night around 10 PM PT. Some take a bit longer. You can also manually update your accounts any time to get the record of all recent transactions:

1. Visit the Banking menu or Transactions menu.

2. Then, visit the Banking tab.

3. Choose Update.

This is how you can update all your bank and credit card accounts.

(Tip: In case you come across a message related to additional authentication, follow the instructions on your screen to continue with the update. Not every Bank asks such things, but few of them have rules like this to follow.)

Review and categorize downloaded transactions

Follow the various instructions to review and categorize the downloaded transactions:

1. Visit the Banking menu or Transactions menu.

2. Choose the tab for the account you want to review.

3. Choose the For Review tab to begin with the review.

QuickBooks transfers the downloaded transaction records to the For Review tab and proceeds to review them one-by-one.

Update the connected accounts

To update your bank or credit card info, such as your username or password, or refresh the connection:

1. Visit the Banking menu or Transaction menu.

2. Choose the Banking tab.

3. Choose the Edit option mostly available on the title of the bank account to be updated by you.

4. Then, choose the Edit sign-in information.

5. Update your account info.

6. Now, choose the Save and connect.

It’s also the best space where you can discount your accounts from an online shopping platform.

Source :- Connect bank and credit card accounts to QuickBooks Online