Getting Started – QuickBooks® Windows 2017

Desktop Pro boxThe Online Banking Center – Bank Feeds

  1. To get to the Bank Feeds menu go to Banking menu > Bank Feeds > Bank Feeds Center.

You will use Bank Feeds to keep your QuickBooks accounts up to date.

  1. Click Refresh Account to synchronize transaction with your financial institution (more information below).

The Transaction List window allows you to match downloaded transactions to exiting ones in your account register and add new transaction (see the special note at the end of this document for more information).

Image of screen with bank transactions listed

Display Modes

Express Mode (Bank Feeds) is the default Online Banking interface in QuickBooks 2017. Compared to Side-By-Side Mode, the online banking interface has changed significantly. This new interface provides a better workflow and offers better visuals to showcase customer data.

The first time you set up an account for online banking, you will be prompted to set the display mode; either Express Mode (Bank Feeds) or Register mode. This guide focuses on the new Express Mode. This is the newest mode with the most advanced features.

Choose Help menu > QuickBooks Help. Search for Online Banking Modes, then select Online Banking Modes overview for more information about display modes.

What you Need to Get Started

Before you enable your QuickBooks accounts to download transactions and make online payments, you may need to contact your financial institution (FI) for the following information:

  • Customer ID
  • Personal Identification Number (PIN) or password

NOTE:  For QuickBooks Web Connect accounts, use the same customer ID and PIN/password as your financial institution website. For Direct Connect, they may be different. Please contact your financial institution to verify your Direct Connect login information.

Then follow these steps:

  1. Backup Your QuickBooks Data File.

For backup instructions, choose the Help menu and use the Search bar available at the top. Search for Back Up and follow the instructions on screen. The first time you do a backup, QuickBooks will guide you through setting backup preferences.

  1. Download the latest QuickBooks update.

For update instructions, choose the Help menu and use the Search bar available at the top. Search for Update QuickBooks, select Check For QuickBooks Updates, and follow the instructions.

  1. Switch to single user mode, if you are sharing the QuickBooks data file among multiple computers.

For instructions to switch to single user mode, choose Help menu > QuickBooks Help. Search for Switch to Single User Mode and follow the instructions.

 

Set up an Account for Online Banking (Direct Connect)

  1. Choose Banking menu > Bank Feeds > Set Up Bank Feeds for an Account.
  2. On Step 1: Find your bank screen, type the name of your bank in the entry field. When your bank appears in the filter results, click it.

Screen shot of Step 1: Find your bank

  1. Depending on your financial institution, after you click your bank name, you may see a screen to select Direct Connect or Web Connect, or you may be asked to enter your credentials.

 Screen grab of your Bank Feed Setup

  1. If you already enrolled in Direct Connect, click Continue. The Step 2: Connect Financial Institution to QuickBooks screen will appear.Screen shot of Step 2: Connect Bank of America - All other States to QuickBooks
  2. Enter your credentials and click Connect to connect to your bank.
  3. After you connect, you will see all accounts at your financial institution that you can add to QuickBooks. If you don’t have an account ready in QuickBooks, click <Create New Account> to create a new account. If you don’t want to download data from a particular account, choose Do not add to QuickBooks from the drop-down menu.

Image of Step 3: Link your accounts

  1. After you add your accounts, click Close.

Setup an Account for Online Banking (Web Connect)

  1. Log into your financial institution’s web site.
  2. Download your transactions according to your financial institution’s instructions.

If you are given a choice for your download format, choose “QuickBooks Web Connect (*.QBO) and save the file to your computer.

NOTE:  These instructions assume you will save the download to your computer. If you “open” it instead, your web browser should open QuickBooks and begin to import the transactions. If you plan to open the file directly, we recommend that you have your Company file open in QuickBooks 2017 before you begin Step 2.

  1. Open QuickBooks and your Company file.
  2. Choose Banking menu > Bank Feeds > Import Web Connect File. You will see an import dialog.

Screen shot of Open Online Data File page

  1. Navigate to and select he file you downloaded in Step 2, then click Open.

Screen Shot of Select Bank Account Window

You will see a dialog like this one with your FI information.

  1. Click Use an Existing QuickBooks Account if you have an appropriate account in the Chart of Accounts. If you don’t have an account yet, click Create a new QuickBooks account and enter a name for that account.
  2. Click Continue.
  3. Click OK to confirm and finish.

NOTE:  There is an alternate way of importing a Web Connect file into QuickBooks. Go to File > Utilities > Import > Import > Web Connect file, navigate to where the Web Connect file is located on your computer, then click Open.

Special Note:  Matching and adding Transactions

After you set up Bank Feeds and open the Bank Feeds Center, you need to tell QuickBooks how to handle downloaded transactions.

  1. Go to Banking menu > Bank Feeds > Bank Feeds Center, select the account you want to work on and click Transaction List.

Transaction List button

A colored bar will indicate the following:

  • Transaction in orange need your review
  • Transactions in red have been changed by rules
  • Transactions in blue have been automatically matched.

NOTE:  You can filter your transactions easily using the status, type, and date range filters.

  1. Add or Verify the QuickBooks income/expense account on each transaction.

Screen image of Accounts Receivable

NOTE:  For more details about the Transaction List window, please refer to the QuickBooks In-Product Help Article titled Bank Feeds Center window.

Updating and Account (Direct Connect) – Express Mode (Bank Feeds)

  1. Choose Banking menu > Bank Feeds > Bank Feeds Center.
  2. Select the account you want to update in the Bank Feeds window.
  3. After you select the account. Click Download Transactions to start the update process. If you have multiple accounts with the same bank, you can choose to sync either one or all accounts by clicking the sync button in the upper-right hand corner.

Image of screen to Sync Accounts

After the sync is complete, your accounts should be up to date.

Updating and Account (Web Connect) – Bank Feeds

  1. Choose Banking menu > Bank Feeds > Bank Feeds Center.
  2. Select the account you want to update in the Bank Feeds window.
  3. After you select the account, click Refresh Account to start the update process.

NOTE:  For Web Connect accounts, QuickBooks will open your financial institution (FI) website. Please log in and download the QuickBooks web connect file (*.QBO) per the financial institution’s instructions. Alternately, you can log into the FI website outside of QuickBooks and follow the same steps below.

  1. When you begin the web connect download from the FI website, your web browser should give you the option to either “open” the file or “save” it.
  • If you open it, QuickBooks should open and begin the import process.
  • If you save it, you can import it later by going to Banking menu > Bank Feeds > Import Web Connect File, navigate to there the Web Connect file is located on your computer, then click Open.

NOTE:  There is an alternate way of importing a Web Connect file into QuickBooks. Go to File > Utilities > Import > Import > Web Connect file, navigate to where the Web Connect file is located on your computer, then click Open.

  1. QuickBooks will then import the online banking transactions and show you a Transaction Summary.

Transaction summary view

  1. Review the Online Transmission Summary. You can print the summary or just click Close when done.
  2. After the Web Connect import, go to Banking menu > Bank Feeds > Bank Feeds Center, select the account, and click the Transaction List button to view and match the downloaded transactions.

Switching Online Banking Modes

You can easily switch from Express Mode (QuickBooks 2015 and later) to Classic Mode (formerly Register Mode).

  1. Go to Banking menu > Bank Feeds > Change Bank Feeds Mode.
    You’ll see your Company Preferences. In the Bank Feeds area, you’ll see your current mode.
    Bank Feeds view
  1. Click either Express Mode or Class M 

    NOTE:  Express Mode allows you to change your Rule preferences