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QuickBooks 2005: The Missing Manual by Bonnie Biafore

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Setting Up Your Accounts for Online Services

Connecting your bank accounts with your accounts in QuickBooks is a lot like running a dating service. You have to prepare each participant for the relationship and then get them together.

The services you can subscribe to and the price you pay depends on your financial institution, but the services fall into one of these three categories:

  • Online account access. This service is often free. Your bank won't admit it, but letting you check your account balance and transaction status online is cheaper than letting you chat on the phone with customer service representatives.

  • Online bill paying. This service usually comes with a fee, which is often a good deal when you consider the price of stamps and printed checks.

  • Online credit card access. You can download credit card transactions as you do checking transactions, as long as you set up your credit card in QuickBooks as a liability account and enter individual credit card charges. Setting up a credit card as a vendor and entering only the monthly bill payment won't work.

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