QuickBooks 2005: The Missing Manual

Exchanging Data with Your Financial Institution

Your financial institution takes the lead in controlling how QuickBooks can communicate with it. There're two ways your bank can set up this pipeline:

• Direct connection uses a secure Internet connection that links directly to your bank's computers. With this type of connection and a financial institution that offers the services, you can download your bank statements and transactions, transfer funds between accounts, pay bills online, and email your bank.

• WebConnect uses a secure connection to your bank's Web site to download your statement information. With WebConnect, you must then import the downloaded information into QuickBooks.

Note

Regardless of the method you use, the online balance usually isn't the true picture of your cash balance, because it doesn't show all transactions, such as checks you've written that the bank hasn't received.

Downloading Statements with WebConnect

Connecting to your financial institution begins in the Online Banking Center, regardless of which type of connection you use (choose Banking→Online Banking Center). Going online is quite simple, as Figure 20-4 demonstrates.

When you click Go Online, QuickBooks opens a browser window and displays your bank's Web site; use your customer ID and PIN or password to log in. The easiest approach to acquiring your data is to download it. Select an account and then click Download to QuickBooks to load the recent transactions into your company file.

Tip

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