Nowadays, bank feeds are becoming more and more important, sometimes this can be frustrating to discover that the business bank you have selected is not compatible with QuickBooks Online. So here the question arise that which bank should you select which can integrate with QuickBooks Online UK bank feeds?
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QuickBooks does not deliver a public API as Xero& Free agent, with the result that the banking industry can quickly integrate the banks accounts to QuickBooks bank feeds which means that QB has to directly work with banks who wish to integrate the bank accounts of theirs with QuickBooks Bank feeds. QuickBooks open banking is available & here we can anticipate to see increased banks become compatible soon!
Now what’s that mean for UK small businesses? While choosing a bank account user is required to validate that the user bank can be combined with QuickBooks so to circumvent the reconciliation manually at the month end. Below is the list given for UK banks compatible with QuickBooks bank feeds.
What are Bank Feeds?
Banks feeds are a list of transactions (in goings and out goings) of the bank account with the accounting system. The impact has been extensive, QuickBooks can automatically match a transaction to an invoice, it can be sale or purchase. This reduces the time duration of reconciling bank accounts manually and helps in saving the working hours.
As the QuickBooks team is a team of professionals who has the specialization in eCommerce businesses, and can assist to choose which business bank will work with user’s eCommerce business.
List of Financial Institutions with Bank Feeds for QuickBooks Online
Here is the below list of Financial Institutions with bank feeds for QuickBooks Online mentioned-below:
Kindly know that the institutions are added/removed on a consistent basis.
|Alphabets||Name of the Institution|
|Advantage Credit Union|
|American Express (Australia)|
|AMP Bank Australia|
|Aussie Home Loans|
|Australia and New Zealand Banking Group|
|B||Bananacoast Credit Union (BCU)|
|Bank of Melbourne|
|Bank of Melbourne – Business Banking|
|Bank of Queensland (Australia)|
|Bank of Sydney|
|BankSA – Business Banking|
|BankWest (Australia) – Business Banking|
|Bendigo Bank (Australia)|
|Beyond Bank (AU)|
|Cole’s Credit Cards|
|Commonwealth Bank Group|
|Commonwealth Bank – CBA (AU)|
|Commonwealth Securities (ComSec)|
|Commonwealth Securities Limited (CommSec) – AUS|
|Community CPS (Australia)|
|Credit Union Australia (CUA)|
|Credit Union SA (Australia) – Beta|
|E||E*TRADE (Australia) – Beta|
|G||Greater Building Society (AUS)|
|H||Holiday Coast Credit Union|
|HSBC Bank (AU) – Credit Cards|
|HSBC Bank (AU) – Personal Banking|
|Hume Bank (AUS)|
|I||IMB Building Society (AU)|
|ING Direct – Australia|
|Macquarie Bank – Business Banking|
|Macquarie Bank – DirecTrade (Australia)|
|Myer Visa Card|
|N||National Australia Bank Group Limited|
|Newcastle Permanent (Business)|
|Newcastle Permanent (Personal)|
|P||PayPal – Australia|
|People’s Choice Credit Union (AU)|
|Police Credit Union|
|Q||Qantas Credit Union|
|Qantas Frequent Flyer|
|Qantas Staff CU|
|Quicken.com Australian Brokerage|
|Queensland Country Credit Union|
|RAMS (AU) – Beta|
|S||Saving and Loans (Australia)|
|Service One Members Banking|
|St. George Bank|
|St. George Bank – Business Banking|
|Suncorp Metway (Australia)|
|T||TD Waterhouse (Australia)|
|Teacher’s Credit Union/Teacher’s Mutual Bank|
|Teachers CU (Australia)|
|V||Vanguard Investments (Australia)|
|Victoria Teachers Mutual Bank (AU)|
|Virgin Money (AU)|
|W||WAW Credit Union – RSM Albury|
|Westpac Bank Business Banking|
|Westpac Banking Corporation (AU)|
Apart from the above-mentioned banks there are few other institutions as well which are given below:
|Santander Business Account||Lloyds Business Account|
|Barclays Business Account||TSB Business Bank account|
|Clydesdale Bank||Metro Bank|
|Bank of Scotland||Ulster Bank|
|Bank of Ireland||Allied Irish Bank|
|Handelsbanken||Card One Banking|
Here is another list given which is for the popular banks who are working on QuickBooks Integration
- Fair Everywhere
- Counting Up
- Co-Operative (COOP)
Our team of professionals will update the user whenever QuickBooks releases their API finally so that, banks can get attached to the QuickBooks Bank Feeds easily.
How to Link QuickBooks Online to Your Bank Account
“Bank feeds” is one of the most efficient features of QuickBooks’ in online banking. Because of this special feature user can save a lot of time and effort. Users are required to tie up the bank, credit cards, & other financial accounts to the QuickBooks Online account hassle-free without the need of any data entry. User can also connect the QB online to the bank accounts& optimize QuickBooks with the help of the outsourced accounts.
Once the financial accounts are tie up to the QuickBooks Online account, QuickBooks will naturally download and categorize all of the transactions made through your connected accounts. Once the approval is done user are able to see how QB categorized the accounts of user, user will be able to review all the recent updated credit or bank card transactions, sales, and expenses included.
Here are few steps which will assist us to Link QuickBooks Online to the Bank Account
- First, Log into QuickBooks Online
- Here at this step, Choose correct from the banking menu from the landing page or if the user has already created an account, Select “Add Account”.
- Here at this point for the bank (most banks, and even small credit unions, can be connected).
- If the user is not able to find the bank in the list, however, would still like to add the transactions to the user’s QuickBooks account, and later user can try manually uploading the transactions from the CSV file.
- Choose the “Continue” option, & then in the pop-up window, users’ needs to enter the username and password for the online banking account &hit on the option of “Connect”.
Note: It might take some time to link QuickBooks online to the user’s bank account; but, some banks may require additional information for security purposes. If this is the case, user, needs to see instructions on the screen letting the user know what to do next.
We have tried to cover the maximum information for your reference. However, if still you have any doubts or queries you can always touch base to the team of Dancing Numbers Experts.
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