You'll find that the nuts and bolts of carrying out online banking procedures are pretty easy and straightforward. Here are some preliminary and precautionary steps to keep in mind if all this online banking is new to you. These are the types of startup procedures you should anticipate:
First, determine whether your existing bank provides online services. You can do this by calling the bank or by viewing the QuickBooks list of QuickBooks-friendly online institutions. The Financial Institutions Directory can be viewed by selecting the Banking menu and then selecting Online Banking, Available Financial Institutions. If your bank is on the list, click the link to your bank to find out more about which options are available to you.
To see what your options are, begin using the QuickBooks Online Banking Interview (select the Banking menu and then select Online Banking, Set Up Account for Online Access). You will encounter the following choices:
If your bank provides online services directly through QuickBooks, you can simply continue the interview, make your bank aware that you are now taking advantage of its online service, and begin banking and bill-paying through QuickBooks.
If your bank provides online services but is not working directly with QuickBooks, you can still use the software your bank provides for an online connection to pay bills through QuickBooks, but you cannot do full online banking through QuickBooks. Stop the interview, consult your bank, and ask it to send you its information for going online.
If your bank does not provide online banking, you can change your bank to a QuickBooks-friendly bank or simply sign up for Intuit's online bill-paying service. You can continue the interview, exploring the options that are offered.
If you decide to switch banks to one that works online with QuickBooks, submit your online application and wait for account information to be sent to you.
If you are considering changing banks simply for online access, think twice. Even in the electronic age, some important banking and lending decisions are still based on rapport. If you've taken the time to get to know your banking officer, loan managers, and so on, don't cavalierly sever those relationships. Check with your home bank first and find out whether it has plans to offer online services in the near future. Mention that you use QuickBooks and want to tie in your QuickBooks accounts with your bank. You might find out that your bank is about to start offering the very services you need.