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Connecting an account to the bank feeds in QuickBooks has several advantages. QuickBooks can automatically download and categorize transactions, saving time and improving accuracy. Later, reconciliation is also much faster for a connected account.
Account connection is simple. Many bank accounts and credit cards can be added – including the Wise Business account. There is a straightforward manual option too for unsupported accounts.
|This piece has been written in collaboration with Esther Friedberg Karp, an esteemed bookkeeper and Advanced QuickBooks ProAdvisor.
Connecting an account to the bank feeds in QuickBooks is straightforward. Doing so makes financial management much easier.
You can connect as many accounts as you need to. These can be business or personal accounts.
Most bank and credit card accounts can be added automatically. To do this, follow these steps:
To add a new bank or credit card account:
QuickBooks will then connect to the account, download recent transactions, and categorize them.
QuickBooks bank feeds can connect to many accounts automatically.
If your bank or credit card account is not one of them, you can still add transactions via the bank feeds manually. You can also use this method to add older transactions for an online account.
When adding transactions, it is important to be aware of the dates. Before adding new transactions, verify the date of the oldest transaction shown for the account. This will avoid duplicate transactions.
To verify the date of the oldest transaction:
- Go to Bookkeeping or Accounting, then select Chart of Accounts.
- For the account to which you want to add transactions, and then select View register.
- Find the oldest existing transaction and note the date.
To add transactions, follow these steps:
For more details on CSV files, see the detailed instructions from QuickBooks.
Note also that there is a limit on how many accounts you can connect. This is based on your QuickBooks plan.
If you see a message stating that you have reached the limit, you can inactivate accounts you no longer use.
Once accounts are connected, all bills created in QuickBooks Online will sync with Wise. Bills paid in Wise are matched to the original bill in QuickBooks. Everything is categorized into accounts, or if no bill is found in QuickBooks, the payment will be added as an expense.
This is a great time-saving feature that will speed up bill management and payment. It will also lessen the amount of manual reconciliation.
- *This piece has been written in collaboration with [Esther Friedberg Karp](https://wise.com/gb/blog/author/esther-friedberg-karp), an esteemed bookkeeper, QuickBooks ProAdvisor, and founder of [CompuBooks](https://www.e-compubooks.com/).*
- Esther Friedberg Karp, MBA, is an internationally-renowned trainer, writer, business consultant, and speaker with advanced certifications in both QuickBooks Desktop and QuickBooks Online.
- She has been named twice to the list of Insightful Accountant’s Top 10 QuickBooks ProAdvisors worldwide, with the titles “Top International ProAdvisor” and “Top Trainer/Writer ProAdvisor.”
- Connect bank and credit card accounts to QuickBooks Online
- Manually upload transactions into QuickBooks Online
- Connect Wise with QuickBooks Online
All sources checked 24 June, 2022.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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