Bank transactions can be very useful when reconciling accounts in QuickBooks. Once you’ve connected your bank account with QuickBooks, you can directly import transactions and other information directly from your bank account. In this article, you’ll learn to download bank transactions in QuickBooks Desktop for Mac.
When connecting your bank account with QuickBooks, you have two particular options:
- Web Connect
- Direct Connect
In this article, we’ll show you the ways to import transactions for both types of connections.
Download Bank Transactions Via Web Connect
This is the preferred method of connecting to your bank account with QuickBooks. Most banks support the WebConnect format and enable their users to download transactions easily.
To download bank transactions in QuickBooks Desktop for Mac when your bank account is connected via web connect, follow the steps provided below:
- Select Banking from the main menu.
- Click on Website. In a new window, the bank’s website will appear.
- Enter the authentication details and hit enter to log in.
- In the transactions window, enter the date range for which you want the transaction. Download the transactions in the .qbo file format. The steps to download this file will depend on the bank.
- Go back to QuickBooks, and click on Banking.
- Select Download Transactions.
- Click on Import File.
- Select the .QBO file you downloaded in Step 4.
If you encounter issues during the process, then you should follow the steps provided below:
- Click on Chart of Accounts in QuickBooks.
- Click on the bank account. This process will unlink the account from online transactions.
- From the Action window, click on Edit.
- Go to the Online Settings tab.
- Select Not enabled on the download transactions window. Click on Save.
- The Edit Account window will appear. Select Ok.
- Create a Duplicate with a different name for the selected account.
- Go back to the original account and rename it. Enter the name used for the duplicate account.
- Now try to import the web connect file.
Download Bank Transactions Using Direct Connect
Users who’ve connected their bank accounts via direct connect don’t need to manually download and import the transactions. Instead, the transactions are automatically available and can be downloaded directly from QuickBooks.
To download bank transactions in QuickBooks Desktop for mac when the bank account is connected via direct connect, follow the steps provided below:
- Select Banking from the main menu.
- Click on Download Transactions.
- Click on the QuickBooks Account dropdown menu.
- Select the bank account from which you want to download the transactions.
- Click on Download.
You’ve successfully downloaded the bank transactions into QuickBooks. These transactions can be used for ascertaining the accuracy of accounting data, entering transactions, and reconciling accounts.
If you encounter errors while downloading the errors directly into QuickBooks, then your bank’s website may be down or the bank account may not be properly linked with QB.
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