HOW TO SETUP BANK ACCOUNT IN QUICKBOOKS
Nowadays Quickbooks is good for managing your accounting small business software program and its very helpful to manage sales, expenses, and track for daily transactions. You can easily use this software program for invoice customers to pay bills, generate reports for planning, tax filing, data management, and many more things. If you are facing trouble to set up your bank account with QuickBooks You can contact our QuickBooks Support team for advice.
- The benefit and loss reports can release to be run in just a couple of minutes. It will clearly show how profitable you are summarizing by
(your income – your expenses).
- It will be showing you bottom-line net income (loss) for a specific time period, such as a week, a month, or a quarter:
- Profit and Loss Report
- Balance Sheet Report
- Statement of Cash Flow
we are trying to understand the process of connecting bank account to QuickBooks account in a few steps.
- first, you go on Quickbooks company Homepage.
- Then choose lists menu under Bank Accounts, click Connect an Account and log in your account with username or passwords.
- Choose the “Account” option button and choosing the account type is “New”.
- Now you will ask to choose the Account type. Now please select your Bank Account and then continue.
Now Finally, you will be asked to enter details for the new account….
- Account name:- Chose a descriptive name for easily identify your account statements and drop-down menu’s (e.g. Payroll Checking, your Bank Checking, Savings, etc.)
- Subaccount of:- Its is for if you have many different-different accounts in different banks then you entire the banks name in the field and group them otherwise I’d leave it blank, that is optional.
- Description:- that is types to unnecessary if you can be picked a better your account name. Ordinally I skip it blank.
- Bank Acct. No:- skip this blank if you decide to use online internet banking that you can fill in later.
- Routing Number:- skip blank.
- Tax-Line Mapping:- your planning on integrating with This can be useful if you plan on integrating with TurboTax for Business. If you can work on tax preparer, then you can leave or skip this field also.
- Opening Balance:- If you can open your new fresh account and opening balance is zero so they no need to enter anything.
- Click Save & close and your account setup process is done.
After the bank process is done you can easily access your account and use the other features for managing your account.
Some useful features
Entering Transaction:- If you want to do your transactions in short on bank and credit card pages, then please go on Category to match Column to sort the transactions, you can click the first transactions in a list and open your drop-down transaction detail.
Change transaction category:– you can put your transaction in different categories, open the transaction click menu and choose the right one. Click right and choose to add a new Column if the transaction is new.
Choose a Payee:– Select Payee If this is a new payee, click +Add new at the top of the menu options and the name of the new payee and new payee and click Save, you can enter their details later.
Transfer:– If you can be paid a business credit card bill and made a loan payment with a transaction, open the transaction and choose Transfer.
Split Transactions:- In your business there are many types of items and you want to purchase those with a single transaction, then you have a split option. Where you can click on option then open a split transaction window, here you have the option to choose the better categories for your items and how much you spent on each.
Batch Action:- QuickBooks correctly categorized a bunch of transactions, click expenses from the left navigation bar then click on boxes you’d like to categorize and then click the batch Actions drop-down list then select and choose the category you want and apply.
Mistakes Correction:– If you have unnecessary mistakes during the transition and that is included in this who’s doesn’t belong that batch action, click the QuickBooks tab, choose the transaction and undo it. It will be back on a new transaction then you place it where it belongs. In this event that the above arrangements did not work or you Face a new issue, do not hesitate to contact our Quickbooks support number +1888 614 0555 toll-free.