 Within the banking tab you've got your first item is the banking This is where kind of like the bank feeds are located if you're under the business view. It's a little bit different It's under bookkeeping as We saw before it's under bookkeeping and then you've got your transactions up top and that's where your bank Transactions are it's already set up here because they have a few that have been set up already So that's that's where we'll go and we'll set them up here And then we've got our instructions to set it up usually the actual connection of the bank feeds It's pretty easy. That's not the difficult part of bank feeds the difficult part The people get messed up on is that they pull in all the information they get the connection, right? But then they have all this stuff in what I would call bank feed limbo And they don't know how to add it to the system They get overwhelmed at this point in time because they don't know the accounting system And so it's useful to first have a understanding of what's going on a little bit before But we can build it from scratch here. Even if if we don't so it's gonna say automatic income and expense tracking Save hours of work by tracking finances automatically You could see how it works with the video if you want number one connect bank or credit card to get started number two Review and add your transactions number three see how your business is doing so we can either upload Transactions that's the way we're gonna do it in a future presentations But most likely most people are gonna connect if this was their actual business now I recommend if you're following along with a practice problem with your own data That you download the data from the your financial institution the way we're doing here Which will show you in a future presentation and then we'll upload it If you're running this live and this is your you're on the go and you're following along to figure out How you're gonna set up the bank feeds then of course most people would connect directly to the bank Just make sure that you have your cutoff dates correct in terms of where you want to start Your your data that you're pulling into the system if it's a new company file It's pretty straightforward. You're gonna pull in all the information into the system But if you have a lot of back data, then the question is where are your bank feeds gonna start? Make sure you get that cutoff date lined up Sometimes that's easier to do by first downloading the data at least for the start and then connecting after that point Okay, so then they have a ton of different banks and financial institutions. It used to be That that only the big banks were kind of here and then but now all like a lot of banks are Included and even PayPal and whatnot is included here Which is really really nice because because PayPal used to be like an intermediary type of thing Now people are using PayPal is basically a bank they're paying a lot of the expenses through the PayPal and so it's nice to have that there as well so you can You can show more down here here to find your institution. You can type in up top whatever chase. Let's say Bank and then obviously you can go into your chase bank And then it says sign into the account start by connecting your chase bank account with into it The makers of QuickBooks and so on so then you've got your connection issue So when you go through the connection each financial institution might have a different verification process But most of them are pretty straightforward these these days So there's going to be an online verification you're gonna have to log into the account and so on to make sure that it's an accurate Connection and then you should be good to go worst case scenario You might have to call your financial institution and say that you're using QuickBooks online, but Usually it's pretty pretty streamlined for most of the big banks And it's more it's getting more and more streamlined for many smaller banks as well And then of course once that is done I won't go through that process now because we're gonna upload the transactions And I'll show you how to do that in a future presentation how to download the transactions from the bank how to get How to get this data file or a CSV file that possibly you can use to then upload to the system But once you do upload it then We will end up with the items in the the banking Transactions for for the bank feeds Such as this and we'll have our card up top and then all this information will be in bank feed limbo, which is what I called before So it's waiting for that added information Accounts to be assigned to Vendors and customers so it can then be used to pull into the creation of the financial statements balance sheet income statement or Used to verify double check the transactions We have entered for cash helping us with the bank reconciliation process