QuickBooks Bank Feed

Happy Monday morning!
We have this ongoing problem and unfortunately there seems to be no light or no end to the tunnel.....
It is my last resort to ask this esteemed Group hopefully someone can shed some light....

This problem has been going on for a while and have spoken/emailed/chatted QB Customer Service but they are not being helpful. We have multiple Entities with QB, and have multiple bank accounts. For CBA, we have done the Direct Feed Form for over a year now, and it had been working well. However, since February this year, it decided not to download any bank transactions. I have tried re-login to the bank account, log-out, log-back into QB. Have tried that more than 6 times. Chat with QB Support, gave them all the sceenshots and Forms, and they kept asking me to send further screenshots, without telling me what action they have done. For March, I have no choice but to enter the transactions manually as we need to finalise the BAS. But we cant afford to keep doing this.....
Looking forward and many thanks!

 

Have you considered using Xero? The ~$30/mo seems like it will save you a lot of hassle and headaches and it’s also tax deductible.

 

I didnt in the past but I do now.... QB is sooo painful in all counts, which is a pity.
Unfortunately Xero's $25/month option wont be enough for us. The next one up is $50/month and we have 3 entities albeit all small.
Must have a serious look at this after EOFY.

 

Do you need Payroll/Invoicing etc? There’s a Xero cashbook version that has some restrictions but is a lot cheaper.

Search Xero Cashbook for various options.

Note these options usually need to be purchased through a Xero partner. You can get one of them through Sharesight for $15pm.

There is also a multi organization discount but I was told it’s only 5% at the moment (I did find a PDF on the net saying 15%).

Regards,

Jason

 

Do you use a tax agent for advice at all? They may be able to give you a subscription at a discount. Some firms are really good and pass the discount onto their clients.

 

We use a non-retail accounting product that is $20 a month. Includes payroll, data feed and more.
QB is aweful. Always has been. I have bookkeepers who wont even help QB clients.

QB adds to accounting costs. Our software comes guaranteed to save as much as the subscription off annual costs as its so friendly. My best recommendation is never use retail software. Its made for simplicity and that is its weakness. Xero is a good example. It doesnt do anything special but most think it does, Its quite costly as a end to end solution. And who owns the file ?

Common reasons why a data link fails:
- Bank password has changed (reset it)
- Account link is wrong (eg cant be linked to two accounting files)
- Using a third party data feed not a direct (SIPP etc) feed. Not recomemdned for security anyway.
- Sometimes a feed will stop if not accessed for XX days (often 30-60). A manual reset must occur to backdate it to that date OR import manually (QBO, QIF, QFX) from online back export file for the gap in dates.... THEN restart the feed manually from the date the import ended. Bad support if QB dont know...As expected.
- Some banks have special processes and it was not followed and must be deleted and then recommenced. eg approval inside online banking is removed.

Business Cloud Accounting Software Pricing | Sage Australia

 

I second this.