QuickBooks for Mac 2014 User’s Guide 163
Online Banking
If you use online banking for your business, you can use QuickBooks to access your banking transactions. You can
import bank and credit card transactions from your financial institution's website and then add or match the
imported transactions to transactions in your QuickBooks bank or credit card account register.
Depending on your financial institution, you can access your online banking account either of the following
services:
• Direct Connect (automatic)—QuickBooks connects directly with your online account using your financial
institution's server. Your transactions are downloaded directly into QuickBooks. Your financial institution may
apply a fee for this service.
• Web Connect (manual)—You log into your financial institution's website and manually download a
QuickBooks–compatible file to your computer. Then you import the downloaded file into QuickBooks.
Which service you use depends on what your bank offers. QuickBooks guides your through the connection to your
online bank account and lets you know what service is available for your account.
Why use online banking with QuickBooks?
• Save time. You no longer need to manually enter transactions recorded by your bank.
• Reduce errors. By importing the transactions instead of entering them manually, you reduce the chance of
errors. Also, QuickBooks compares the bank transactions to the ones in your company file and alerts you to
discrepancies.
Types of Accounts
You can import transactions from the following types of accounts:
• Checking
• Savings
• Money market
• Credit card
• Line of credit
Before You Begin
• You must have online banking set up with your financial institution before you can access your bank account
with QuickBooks. Check with your financial institution for information about setting up online access to your
account.
• You must have an Internet connection to access your bank account online.
Next Step
If you have everything in "Before You Begin," you're ready to use online banking with QuickBooks. Now you need
to set up your bank account using Direct Connect or Web Connect.
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