Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter 19
Chapter 20
Chapter 21
Chapter 22
Chapter 23
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28

Chapter 21

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Setting up within QuickBooks

The setup system runs as a wizard, keeping track of what has already been done.  It is self-guiding and generally very well designed.   If you start again after setting up one account, the screens will be different, recognizing the existing account.

Once a bank is picked from the list, an account will be needed.  If you do not have one, you will have to go the bank to open one.  Online banking can be set up at the time.  The information they give you, as well as what you give them, must later be entered into QuickBooks, and may have to be sent back to the bank during an online session.


Banks are typically much more familiar with telephone banking than working through QuickBooks.  Be sure the bank is setting up QuickBooks banking.


A simple and widely used password is ones mothers maiden name.  However, as the Social Security Administration has found out, that is not any secret.  People studying genealogy can find it quickly.  Feel free to use another name, but remember (or write down) what you said.

Circumstances alter cases.   You may have a bank account set up within QuickBooks, or you may need to set up an account.  Online banking may have already been arranged with the bank, or you may wish to apply online.  You may want to set up online payment with a bank that does not offer online banking. The instructions here are based on online banking having already been arranged with the bank, and the account already existing in QuickBooks.  Whatever your situation, you should be able to follow.  I suggest that you read all of the setup instructions before starting, and collect the needed information.  Please note particularly the information about the signature form.  Armed with this information, the instructions on the screen should prove an excellent guide.

Click Online|Set Up Banking & Payment to start. This will bring up the first Online Banking and Online Payment Setup Interview window.  After reading and clicking Next on a few screens, you will get to Select a financial institution.   For online banking, click I would like to apply ... .  Drop the list and select your bank.  (For online payment, click My financial institution is not on the list.

You will then be asked to Verify company information.  QuickBooks will copy in data from Company Info and bank account records within your company file.  This information will be transmitted to the bank, so it must match what the bank already has.

EnteradditionalinformationaboutyourCheckingaccount requires that the bank account record within QuickBooks be complete and accurate.  The account number must be as you see it on the bottom of your checks, usually the second block of numbers.  These numbers will the same, or almost the same, as the numbers on your statement. For online payment through ISC, the routing number will also be needed.  It usually is left-most on the bottom of the checks, and consists of nine digits.  It will contain some of the numbers in small print on the check, and begins with digits 01 through 12 or with 21 through 32. 

Account details are copied in from your company files. Check to be sure that they match records the bank has about you. 

Next set the starting check number for Online Payments. QuickBooks 5.0 and QuickBooks Pro 5.0 track three series of numbers in each account:  manually written checks, automatically printed checks, and online payments.  Set up the online payment numbers so they will not conflict with any check numbers.

Another (not shown) screen asks if you have already applied to the bank for your online account, which may, or may not, be your existing company account.  Selections will be provided depending on your circumstances.

IfOnlineBankinghas already been arranged through your bank, when you have the opportunity, select I have already completed ... .   In this narrative, skip down to the paragraph below headed Existing account to enter some details about your bank account, and link with the bank.

If OnlineBanking has not been arranged through your bank, you can make an online application.  

If you plan to process through ISC (Checkfree),  click My financial institution is not on this list in the previous screen for online payments only.   You will not, obviously, be able to access information about your bank account.

Existing account (you selected I have already completed ... ) proceeds to a view like that above, but under the Confirm tab.   You must also have at hand the Personal Identification Number (PIN) assigned to you by the bank.  On the first transmission, this must be changed to a PIN of your selection. Then online operation will be fully set up and ready for use.

All modes:   when all information is set up correctly, a few more clicks of Next will get to the point of transmitting the information to the bank (or ISC.) All calls are made to local toll-free numbers, or to toll-free long-distance numbers.  If the list of banks was recently updated, QuickBooks will have the correct numbers.  Transmission is closed (there is no display of transmitted data) but is very fast.

Another window (not shown) provides for printing of a Signature form.  This appears only on a new setup after the information is transmitted to the bank.  This form must be signed and mailed to the bank.  You may want to copy it after it is signed, or to print a second copy to keep.  The signature form can be printed only from this screen, and once you leave it, the screen cant be accessed again.  You may be able to select printing of more than one copy.  If not, and you want an additional copy, you can say that it did not print correctly. 

Assuming acceptance of your application, the bank will probably send back a letter, with more information about their online services. In a few more days, a second letter will bring your starting Personal Identification Number (PIN.) 


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Last modified: May 21, 2004