Bank Feeds is not only a new way to connect to ‘more banks’ in a streamlined fashion, but an entirely new way of handling your bank information once it has been downloaded. Now with QuickBooks 2014, Intuit is offering a Third form of Online Banking: ‘Bank Feeds’. There was only one problem with this technology, a lot of banks would not provide this form of service because Intuit charged them for the technology. Almost always the ‘DirectConnect’ data is an update since your previous download. QuickBooks connects with the click of a button, and usually the data is downloaded and displayed for you without any additional effort on your part. This option permits users to connect to their bank account without having to use a Web browser, or manually download a file. In order to streamline the process, and provide a more automated form of online banking, QuickBooks began offering a Second option: ‘DirectConnect’ Online Banking. This can frequently be a mess, because many banks limit the quantity of data available, or only provide a date range of data, rather than an option to obtain your account data since your last download. The file must then be manually imported into QuickBooks using the “Import WebConnect File” option from the online banking menu. First we had QuickBooks ‘WebConnect’ Online Banking, this option requires users to access their bank through a Web browser and then download a file from their account.
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