QuickBooks users can connect their accounting software with their bank account. There are many perks of doing so. But for beginners it is really difficult to do that as they don’t know how to add bank account to QuickBooks. But since there are many benefits of syncing your bank account with QuickBooks, thus you should always do so. Here are some of the perks you see. Some of them are as follows:
QB has many tools and features that let users handle transactions, even the most complicated ones. Applying payments and deposits is indeed arduous but can be substantially simplified by interlinking bank account. Also, QB is completely secure for performing the transaction. Payroll users have an added benefit. They can link their bank account with QB and deposit money directly into the bank account of their employees.
Follow the steps given below to link your bank account with QB software:
You have now successfully linked your bank account with QuickBooks. QuickBooks will download all the transaction for the last 90 days from your bank account. Still, for the first time, users need to manually configure and approve each transaction. This will help QB in identifying all the types of transactions along with their categories.
Follow the steps given below to successfully configure and import transaction for the first time in QB:
QuickBooks will, from this moment forward, automatically record and organize all your transactions for you. You can even view a summary report of your earning and spending on the dashboard. Users can also create customizable reports with the data synced from the bank account. Profit and loss statements are great for gaining insights into your total income and expenditure. This report relies heavily on the data collected from your bank accounts. Also, creating other financial statements is simplified by linking a bank account with QuickBooks.
You can also add a description for transactions and apply them to invoices. You will also be able to manage Accounts Payables and Accounts Receivable easily. Marking payments will be substantially easier. There are infinite perks to integrating QB with your bank account. You can also integrate QB with their party programs for gaining access to more tools and features.
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