Banking Center and Reconciliation in QBO
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Banking Center and Reconciliation in QBO

The Banking feed allows you to pull in your transactions and classify them automatically. Learn how to use it properly.
4.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
6 students enrolled
Last updated 10/2019
English
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Current price: $20.99 Original price: $29.99 Discount: 30% off
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This course includes
  • 2 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • How to connect your bank accounts to your QuickBooks®
  • How to import new transactions as they clear the bank
  • How to import previous transaction history
  • How to classify transactions through the Bank Feed to save time on manual data entry
  • Which transactions you should NOT import automatically
  • Workarounds for bank feed issues
  • Why you should reconcile even if you’re importing
  • How to reconcile your bank account transactions with your monthly bank statement
  • Tips and tricks wile reconciling that will save time and frustration
Requirements
  • None.
Description

One of the best features in QuickBooks® Online is the ability to connect your bank accounts and credit cards. The Banking feed allows you to pull in your transactions and classify them automatically, instead of entering everything in by hand. We’ll also show you how to reconcile your accounts at the end of the month so that you can have confidence in your numbers.


Eliminate manual data entry! In this tutorial on QuickBooks® Online Banking, we’ll show you how to add a bank account to QuickBooks, import and match transactions, categorize your expenses, and attach receipts. After you itemize your deductions, do a bank reconciliation.


One of the best features in QuickBooks®Online is the ability to connect your bank accounts and credit cards. The Banking Feed allows you to pull in your transactions and classify them automatically, instead of entering everything in by hand. Automation features like Rules do some the work for you. The new Receipt Capture will even scan your paper receipts and attach them to your expenses.


But…the Banking feed has some interesting quirks you need to know about. If you use it right, you can reduce your data entry to almost nothing...but if you use it wrong, you double your income and code your expenses wrong.


Once you’re up to date, we’ll also show you how to do bank reconciliations to reconcile your accounts at the end of the month so that you can have confidence in your reports.

Who this course is for:
  • Business owners and employees who maintain their company’s financial records
  • Bookkeepers and Accountants who wish to brush up on their skills.
Course content
Expand all 6 lectures 02:03:47
+ Using the QBO Banking Feed
1 lecture 01:10:44

Set up and use QBO's Banking Feed to reduce data entry.

Preview 01:10:44
+ Banking Rules
1 lecture 25:56

Automate the Banking Feed to assign Payees, Categories, Classes, and splits. You can even have routine transactions add to the register automatically.

This feature saves hours of data entry work every month!

Preview 25:56
+ Reconciling Your Accounts
1 lecture 08:38

It's important to Reconcile all your checking and savings accounts, credit cards, loans, and clearing accounts every month.

That's how you know if you have transactions that are duplicated, missing, or allocated to the wrong account

If you've been using the Banking Feed, sometimes reconciling your account can take seconds.

Preview 08:38
+ Corporate Credit Cards
1 lecture 05:24

Corporate Credit Cards can be complex to manage:

  1. Create the main corporate account.

  2. Add the individual cards as sub accounts.

  3. Connect ONLY the individual cards to the Banking Feed.

  4. At the end of the month, add a Transfer for each employee card for the total spent on that card. Make it from the Main card to that sub card. This zeros out the spending so your reports show current balances.

  5. Reconcile ONLY the main account. Include the in-and-out transactions from step 4.

Preview 05:24
+ Receipt Capture
1 lecture 02:25

Learn to use QBO's built in receipt capture feature. 

Preview 02:25