How to Add a Bank Account in QuickBooks Online and Desktop?

A bank account for any user must exist in QuickBooks in order to make payments. It can also assist in […]

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A bank account for any user must exist in QuickBooks in order to make payments. It can also assist in classifying the transaction and will allow you to download them. Hence, it must be understood in a clear manner how to add a bank account in QuickBooks to make the most of the accounting software.

But before you dig deep into the complications of accounting with QuickBooks Desktop and QuickBooks Online, you must know how to add a bank account to it.

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Read on to know how to add a bank account in QuickBooks Desktop and QuickBooks Online.

Why do You need to Add a Bank Account in QuickBooks Online and Desktop?

When a user adds a bank account in QuickBooks, they can easily import the transactions and at the same time monitor their finances. When you add a bank account, it will help you to simplify the balancing of your QuickBooks account, prevents the rise of errors, and cuts down the number of data entry problems that users have to face.

By linking your account with QuickBooks, you can just delete volumes of data entry and the reliance on data.

How to Add a Bank Account in QuickBooks?

You can add a bank account in the QuickBooks Online and QuickBooks Desktop too. Read on to learn how you add an account in both.

How to Add an Account in QuickBooks Desktop?

In order to add a bank account in QuickBooks Desktop, you need to:

Step 1: Navigate to the Company menu.

Step 2: Now press Chart of Accounts and then press Account. Now click New.

Step 3: Choose the right account type and then click Bank. Now press the blue button that says Continue. It will be at the end of the screen.

Step 4: Give a name to the Account by entering a name in the particular account. You can give names like Checking or Savings. Press on the Choose from Examples button in case you require help.

Step 5: Link a Subaccount. You can select to mark your account as a subaccount of any other particular account.

Step 6: Provide a description of your account. This will help you to identify it in your chart of accounts.

Step 7: Enter your particular Bank Account Number.

Step 8: Add the Routing number. You can enter the relevant routing number.

Step 9: Choose a Tax-line mapping.

Step 10: Type an Opening Balance on your particular account. You can add the information now. Press the button that says Enter Opening Balance. Now you will wish to add your opening balance to the particular statement that is ending in the balance slot. Now use the drop-down calendar to choose the date of the balance. Once everything looks perfect, press the button for OK.

Step 11: Select Check Settings.

Add your check settings. If needed you can choose a check to reorder and choose to order checks that can be printed from QuickBooks directly.

Step 12: Press the Save & Close button to select your new bank account.

Now that you know how to add a bank account in QuickBooks Desktop, let’s move on to adding a bank account in QuickBooks Online.

How to Add a Bank Account in QuickBooks Online?

There are basically two possible ways to connect a bank account in QuickBooks Online:

Solution 1: Direct Connection of Feeds

It is one of the most frequently used methods. If the bank feeds are available, set up for the particular bank feeds:

Step 1: Open the QuickBooks Online. Now navigate to the Banking tab and select the Add Account option.

Step 2: Now on your particular screen, choose the Direct Feed page and it opens up. Here you need to enter the name of the particular bank and then you need to adhere to all the instructions provided on-screen.

Solution 2: Add a Bank Account Manually

In case there are no bank feeds available, then it is a great opportunity for you. You can select this option if you may wish to connect to the bank feed after sometime.

Step 1: In the first step, search for the Accounting tab in QuickBooks Online. Now select New after the Chart of Accounts loads.

Step 2: In the Accounts option, select Bank.

Step 3: In the detail type, select Checking.

Step 4: In the name column, enter the bank name. If you need, not mandatory, you can also add the summary in the given description field.

Step 5: In the currency column, choose Your Currency.

Step 6: The balance column will display the opening balance section.

Step 7: When entering the accounting details is finished, click the Save and Close option.

In this article, we have added all the information regarding adding a bank account in both QuickBooks Online and QuickBooks Desktop. All you need to do is follow the steps in the given order. You cannot avoid adding your bank account to QuickBooks since it will prevent errors in your QuickBooks account. Hence it is mandatory for business.

But, in case you cannot add QuickBooks to your bank account even after following steps or you are facing some technical difficulties, you can immediately get in touch with our Dancing Numbers professionals.

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Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number
+1-347-428-6831 or chat with experts.


Is it Possible to Add a Second Account in QuickBooks Desktop?

You can add several bank accounts in QuickBooks Desktop. This comprises savings accounts, checking accounts, credit cards, etc. via your financial institution.

How to Change the Bank Accounts in QuickBooks Online?

It is possible to change the bank accounts in QuickBooks Online with the following steps:

Step 1: In QuickBooks Online, choose the Settings gear that is on the top-right and press it.

Step 2: Select Chart of Accounts.

Step 3: Locate the Bank Account that you want to configure.

Step 4: Press the down arrow that is on the right.

Step 5: Choose Edit.

Step 6: In the Account type section, choose the right Account Type.

Is linking my Bank Account with QuickBooks Considered Safe?

When you connect a bank account with QuickBooks, you can just import the transactions. You will never be asked to give a username or provide a password to any QuickBooks employee. Your username and password are encrypted for better protection.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

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Deletes

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Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

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Accountant Basic

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Accountant Premium

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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