bank feed connection first time qbo

Hello, Linda Artesani, Artesani Bookkeeping, and I wanted to just take you through the steps about, especially if you're brand new with QuickBooks Online, how do you start? How do you connect your bank account? So I'm going to take you to my sample company, and clearly I've got nothing in here, and I want to connect my bank account. It's a bank account that's been in existence for a while. I select my bank. I type in my bank account, my user ID came up, click I'm not a robot, and sign in. Now this bank account's been in existence for a bit, and I just started my records as of January 1st, so it's gonna pull in the most recent transactions, which is 90 days. So I'm gonna connect my bank account to this checking account. I'm gonna connect it. It may take a few minutes. And because it's gonna bring in 90 days worth of transactions and I wanna start January and today is May 25th, I'm gonna be missing some transactions. There's another video I will put in the blog so that you can see how to go back and get transactions older than the 90 days that come in with the initial bank feed. And I guess it is going to take a little time. It says, all set, you're ready to go. So once it's connected, it's going to pull in my account. So here's my bank account here. I've got 44 transactions to review. What I want to show you here is as I click onto this, as I click onto this page, I want to go to the register first because I want to show you what QuickBooks does when you download a connect to bank feed initially. And usually this is where people see this right off the bat. It's going to bring in my balance, my opening balance. So if I don't know this, when I start to work in my bank feed instantly, I start to come in here and start to do my transactions and categorize them and download them and Whatever. What will happen is when I go to reconcile, I know my account should be my account should be zero as my opening balance or whatever the opening balance is with my initial bank, my initial balance sheet transaction that I would put in as of January first. But I'm going to show you as you come over here to reconcile the account. Because it's connected to the bank feed, the first thing it's going to do is it's going to show an opening balance. But I know that that's not correct. That's not the opening balance. That happens to be the balance 90 days ago. And QuickBooks, when I connected the bank feed, it created this transaction as my opening balance. It put it in the opening balance equity account, which is not the place for it to be. So what I would do here is the first thing I'm going to do— and it reconciled it, so not only did it put it in the opening balance from the bank from 90 days ago, which happens to be the end of February, it puts the opening balance in, so I have all those transactions in there that I still have to download from January through February 28th. So I need to get rid of this. So I'm just going to come in here and delete it. Because I maybe want my balance to be zero. Or whatever I want it to be, the balance of my opening transaction from my balance sheet. And I still have to go back in and do the other transactions, but I just wanted to demonstrate to you that when you connect the bank feed— this happens to a lot of people— they go in and they're like, well, I don't have— my opening balance should be zero or whatever figure, and it's not, it's this other balance. Why is that? It's because the balance was downloaded, it was populated from the bank feed. So now when I go in here, I want to see that my opening balance is in fact zero. So that's the short tutorial on connecting a bank feed and also how to correct that initial transaction that comes in with the beginning balance. that's kind of forced in through the connection to the bank feed. I hope that's helpful. If you have any questions or would like to see future videos, please feel free to reach out to me. Again, Linda Artesani, Artesani Bookkeeping. Bye now.