The bank feeds function in the QuickBooks Online application allows you to connect your bank account to QB and instantly download the most recent bank transactions. You can handle bank and credit card transactions quickly using the Bank Feeds, allowing you more time to focus on other aspects of your business. You may also keep track of your income and expenditures without manually recording every transaction by connecting your bank accounts to QBO applications. However, keeping track of each transaction can be a significant undertaking. When you connect your online bank accounts in QuickBooks Online, the program will download the latest 90 days of transactions from your bank automatically. You may also Import data to QuickBooks from excel to keep track of your finances.This function keeps your accounts up to date at all times and cuts down on the amount of data entering you have to do on a daily basis.

 

Want to get more facts about the benefits of connecting the bank accounts to QuickBooks and need instant help? Get in touch with our experts for immediate help. 

 

Discussing the Benefits of Using Online Banking in QuickBooks 

When you link a bank account to QuickBooks Online, you can instantly import an excel file into QuickBooks Desktop, saving you time and effort. Apart from this, there are several other benefits that you can avail which are as follows:

 

  • Reduce Data Entry:- Once you connect your bank account with the QuickBooks Online application, you can save a lot of time in manually preparing the bulk of data entry. However, you can utilize your precious time in other business activities. And thus, it helps in the development and expansion of the business. Also, it helps in eliminating the errors that usually occur while manually preparing the data entry. 
  • Automate Your Coding:- You can create rules to have QuickBooks Online code such as regular or recurring items for you, such as gasoline, rent, wages, and so on. This is a significant time saver because it ensures that transactions are coded consistently every time. 
  • Get access to the most up-to-date company information at any time:- Your business information is up to date when you connect your bank account(s) to QuickBooks Online, so you can monitor how your firm is doing in real-time. This means you'll never be surprised, and you'll always be in command. Connecting your bank accounts to QuickBooks Online is simple, and you can download transactions from the last 90 days if necessary.
  • Import Excel file into QuickBooks Desktop:- Once you connect your bank account to QuickBooks, you can import Excel files into QuickBooks Desktop. By doing so, you can easily maintain the records of your bank transactions in one place.

 

Wrapping It Up!!

So, here we have arrived at the end of the blog regarding the significance of connecting bank accounts to QuickBooks.However, if you are looking for the detailed information on how to import excel files into QuickBooks Desktop then feel free to consult our experts.