How to download chase bank statements into QuickBooks | Method Explained

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The core of the QuickBooks users is small to midsize business owners who use different bank accounts as per their financial needs and responsibilities. The users must track multiple transactions manually to record them in QuickBooks and adjust them in fiscal reports and statements with different accounts. However, if you connect your bank account to QuickBooks, these transactions can be imported to QuickBooks with minimal effort. Suppose that you have an account in Chase Bank and you need to download chase bank statements to QuickBooks, then you can do so via either direct connect or the web connect utility. It is recommended to use the direct connect utility as you can perform a range of other tasks like real-time book transfers to the accountant, automatic data reconciliation, bill payments, etc. Steps to complete the action through both the utilities are mentioned in the blog below.

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Things to Remember Before you Download Chase Bank Statements to QuickBooks

1. Before you start, create a backup of your QuickBooks data file to avoid any data loss if you have previously faced data corruption during the process.
2. To avoid duplicate entries, Intuit does not allow QB users to download the same transactions twice in the same QuickBooks Desktop company file. However, if you lost the transactions in an unfortunate event, you must contact your bank as they might be able to reopen them from their side.
3. Web connect utility is compatible with only the .QBO files. If you download other types of files like .QFX and .QIF, you can get a few third-party applications from the Intuit Marketplace to handle such files.

Importing Chase Bank Statement into QuickBooks via Direct Connect

One way to download chase credit card transactions to QuickBooks is through the Direct Connect utility. The first time you connect your bank via direct connect, QuickBooks automatically downloads transactions from your bank account to their maximum limit. However, the limit depends on your bank as some give up to a year of historical transactions while some might give only 90 days of transactions.

• Go to the Chase Online web page and log in to your account.
• Select the Customer Center tab and browse to the Reference Center down the webpage.
• Tap on the link for Activate Money, Quicken, etc.
• Choose the subscription of Activate Direct Access through the PFM service, which will cost the user $9.95/month, and select Continue.
• Go to QuickBooks Desktop and click on the Banking menu.
• Hover to the Bank Feeds menu and click on Bank Feeds Center.
• Select the account you want to connect from the Bank Accounts list and click on Download Transactions.

Note: You can review the transactions if you have them downloaded already by selecting the Transaction List option.

• Click on Synchronize and choose the Sync this account option if you want to download transactions for a specific account, or select Sync all for this Bank to download transactions for all the accounts at the same bank.
• Verify your PIN or password in the Access to prompt to connect to your bank account and click on OK.

Chase Bank Transactions download to QuickBooks Desktop via Web Connect

Another way to download statement from Chase Bank to QuickBooks is through Web Connect. If you have your bank account already connected to QuickBooks, then you can open a browser window to your bank’s website within QuickBooks, and sign in to download the transactions in a .QBO file. Later, you can import transactions into QuickBooks Online. However, if you have not connected your bank account to QuickBooks, you would have to download the transactions (QBO-formatted file) from your bank and then import them to QuickBooks.

Step- 1: Downloading the Transactions as a QuickBooks web connect (.QBO) file

For users who have their bank accounts connected to QuickBooks

• Open QuickBooks and go to the Banking menu.
• Hover the cursor on the Bank Feeds menu and choose Banking Center.
• Look for your bank account and click on Download Transactions.
• A browser window to your bank’s website will come up on the screen.
• Sign in to your bank account and download the .QBO file.

For users who have not connected their bank accounts to QuickBooks

• Go to the Chase Online Banking website and register for an online user account by selecting the Enroll Now option (for users who don’t use Chase Online to manage their accounts).
• Open the Customer Center tab and scroll down to the Reference Center and select Activate Money, Quicken, etc.
• Select Download Now (no charge) to generate a QB OFX-formatted file on the desktop and click on Continue.
• Choose the account from which you want to download the transactions.
• Select the date range of the transactions and choose the QuickBooks radio button, followed by selecting your version of QuickBooks from the drop-down menu.
• Click on Export and select Save if prompted.
• Select the location of the file on the desktop (Intuit Recommended) and once the file is downloaded, right-click on the .OFX file and rename it as .QBO (as QuickBooks Web Connect is compatible only with the .QBO files).

Step- 2: Importing .QBO files to QuickBooks Desktop

• Open QuickBooks and go to the Banking menu.
• Click on Bank Feeds and select Import Web Connect Files.
• Choose the .QBO file that you save on the desktop and click on Open.
• A prompt will come up on the screen asking you to Select Bank Account.
• If your account is already set up in QuickBooks, choose Use an existing QuickBooks account option. Otherwise, select Create a new QuickBooks account.
• Click on Continue and select OK on the dialogue box.
• You may now visit the Bank Feeds Center to check your transactions.

How to Reconnect Your Chase Account with QuickBooks?

If your Chase bank account has got disconnected from QuickBooks, follow the steps below to reconnect it.

• Open QuickBooks and go to the Banking page.
• Select Add account and under the Search field, type the Chase bank’s URL.
• Verify your Chase online banking login credentials and complete the MFA prompt.
• Tap on Continue and select the correct mapping of your accounts.
• At last, click on Connect.

As we end our blog on the steps of how to download chase bank statements to QuickBooks Desktop, we are hopeful about the positive possibilities like easy-to-understand content, relevant and helpful information, and easy statement import process., that the blog post could deliver to our readers. However, if we skipped any part related to the topic of our blog, dial the QuickBooks Direct Helpline Number 1-(855)-856-0042 and get immediate assistance from proadvisorsolutions experts.