setup bank account in Quickbooks

How to Add a Bank Account to QuickBooks?

Before you can begin reconciling your bank account debts and acting other crucial accounting processes, you’ll need to make certain your bank money owed and starting balances are brought into QuickBooks Pro.If you’ve already study How to Set Up A QuickBooks  Account, the technique of editing your chart of money owed ought to seem quite familiar.In this post, we’ll train you how to add bank account in QuickBooks — and a way to add beginning balances in your accounts — in 11 smooth steps.

“Using an old version of QuickBooks? Save $100 when you upgrade to QuickBooks Desktop 2020″.

Download QuickBooks desktop 2020

Add A Bank Account:

To begin, go to Company>Chart of Accounts>Account>New.

Step 1: Select Appropriate Account Type:

Select “Bank.” Then click on the blue “Continue” button at the bottom of the screen.

Step 2: Name The Account:

Type within the call the account is going by, ex. ‘savings’ or ‘checking’. Click on the “Select from Examples” button if you want help. The account call is the only facts that is absolutely necessary. The following fields are optional (although we advise filling out the ones which might be pertinent for your business).

Step 3: Attach to A Sub account:

You maximum in all likelihood won’t be doing this, but you may pick to mark your account as a sub account of some other account.

Step 4: Write an Account Description:

Write a description for your account, so that you will recognize it to your chart of accounts.

Step 5: Add A Bank Account Number:

Enter your bank account number.

Step 6: Enter The Routing Number:

Type in the corresponding routing number.

Step 7: Select a Tax-Line Mapping:

A tax-line mapping is used by accountants to put together the books for tax software and to run an Income Tax Preparation Report. QuickBooks recommends that you do now not use tax-line mappings unless you’re an accountant or tax professional. Click on the blue “How do I choose the right tax-line?” hyperlink to analyze more, or just pass beforehand to step 8.

Step 8: Enter an Opening Balance:

If you have got an opening balance for your account, you could enter that statistics now. Click the “Enter Opening Balance…” button.

Next, you’ll want to feature your opening stability to the declaration ending stability slot. Then use the drop-down calendar to choose the date of that stability. Once all of the statistics seems correct, click the blue “OK” button.

Step 9: Choose Check Settings:

Enter your check settings. If desired, you can set a test reorder factor and favor to order exams that you may print immediately from QuickBooks.

Step 10: Save Account:

Click the blue “Save & Close” button to keep your new bank account.

Step 11: Enable Live Bank Feeds (Optional):

Once you click store, you’ll get notification just like the one below.

If you want to enable live bank feeds, click “Yes” and continue on to How to Enable Live Bank Feeds in QuickBooks Pro.

If you don’t want to enable live bank feeds, click “No” and proceed to the chart of accounts to check that your new account saved correctly.

Our Support:

In case you are unable to add bank account to QuickBooks pro, then you must connect with our QuickBooks technical support team at toll free number  or via QuickBooks live chat support with our support team at any hour of the day for the instant help.

Leave a Reply