To Connect Your Bank Account to QBO, our specialist who handles that aspect with clients is Emma O Sullivan.
Open Banking Integrations in QBO CaseStudy
Having your bank connect in QuickBooks offers the benefits below:
- Fast, easy and secure set-up in less than one minute
- See all your business finances in one place-Know what’s coming in and going out.. Bank feeds let you see how your business is doing in real-time.
- Manage your cash flow with real-time data and future forecasting
- Without manual data entry you reduce clerical errors and number crunching.
- You have instant insights and get a full view of your finances.
- When your bank data flows directly into your QuickBooks Online account, every transaction appears instantly.
- Quickbooks matches income with invoices and outgoings with expenses, then automatically categorises each transaction.
Direct feeds are available for customers who hold accounts with the major banking institutions and you can sync your account in minutes.. Your transactions are sent nightly and Quickbooks use bank-level security to keep your information safe.
Brexit and Quickbooks
Brexit has obviously had a significant impact on business in Ireland. Among the disruptions, some of the bank feeds that were connected in QuickBooks were affected. The framework used by some financial institutions to provide bank feeds were implemented under EU regulations. Some financial institutions needed to move to a different framework to provide the bank feeds after 1 January 2021.As part of this, some QuickBooks clients need to reconnect their bank accounts. We don’t anticipate any further loss of connectivity.
Brexit changed how QuickBooks integrates with your financial institution and retrieves your banking information. We are working hard to minimise any impact to the way our clients use QuickBooks to keep their bank account connected. We send sending regular communications to clients and inform them of any actions they need to take.
Since Brexit some bank accounts need to be manually RECONNECTED
If Interested in Moving To Quickbooks Online To Book a Zoom with Emma for a 15 Minute Discovery Call: Click Here
I look after bank connections. During a 15 min zoom meeting or phone call we can connect your bank. Below are the steps you can take to ensure a seamless and quick integration.
You will need:
- You will need usual login details for online banking.
- The most up-to-date version of your mobile banking app on your phone and ensure it has been recently active.
- Make sure you will be in good coverage as you will receive a security notification and permission request on your mobile phone during our call.
- Check on your phone settings that notifications are enabled from your mobile banking app- settings>notifications> banking app> turn on
- If you are a BOI Business customer and use a KeyCode app, contact your bank in advance. Let them know you will be integrating a third part accounting software. Request permission for third party access on your account. If there was a previous fraud/security threat on an account, it may have an added layer of security. Your bank can manually override this to allow Quickbooks access.
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