Why use online banking?
It means less time typing.
With online banking, transactions that you don’t have time to enter into QuickBooks as they happen are downloaded into QuickBooks directly from your financial institution. You only have to review them instead of entering them from scratch.
- It helps keep your books accurate.
- When you download, QuickBooks compares them to the transactions already in QuickBooks and points out any discrepancies.
- You can easily add missed transactions and check the rest for accuracy without having to search for them in a paper statement.
- When you reconcile your accounts at the end of the month, you only have to deal with exceptions, not all your transactions once again.
- It helps you understand your cash flow.
Since you always know which checks have cleared your banking account, you also know how much money you have available. At some financial institutions, you can also transfer funds between online accounts when you need to.
- You will need to verify the cost to set up online banking and contact your bank for password information
- Direct Connect-sometimes a bank fee
- Web Connect-usually free
- From the “Banking” menu, select “Online Banking”
- Follow the directions to set up an account for Online Banking
- If already set up for Online Banking, select Online Banking Center