***This method keeps the banking information in ACH Universal rather than in QuickBooks (preferred).***
Integration with QuickBooks can be based on storing your Customers', Employees' and Vendors' banking information in either:
--QuickBooks (on each profile), or
--ACH Universal profiles.
ACH Universal profiles may be added one at a time, or may be imported from an Excel of CSV file.
Generally, QuickBooks-based profile storage is preferred, as this avoids the need to create a corresponding profile within ACH Universal.
However, there are a number of advantages for using ACH Universal-based storage, including:
--Speed of processing
--Access to all features within ACH Universal, including recurring transactions, reversing transactions, multiple origination accounts, and other ACH formats.
In ACH Universal
ACH Universal enables you to automatically pull the transactions from QuickBooks and create an ACH file (also called a "NACHA" file).
This ACH file contains the payment and collection instructions that your bank will need to carry out your electronic funds transactions.
ACH Universal can automatically transmit the file to your bank (FTP, SSL, etc.), or you can simply upload it through the bank's web site.
--Protects you from duplicate transactions by integrating and tracking QuickBook's transaction ID
--Stores all of your customers', employees', and vendors' banking information
--Provides you with a full audit trail of all transactions
--Enables you to manage untransmitted transactions (on temporary hold, permanent hold, etc.)
QuickBooks - One-time Setup
Start QuickBooks and open the company you want to work with.
1. Create a sub-account of your Bank account
On an ongoing basis, you may want to use the new sub-account that you created for your electronic transactions.
From the QuickBooks main menu select Lists > Chart of Accounts.
On the lower left corner select Accounts > New
Select 'Bank', then 'Continue'
Enter the name of your sub-account (we recommend something descriptive like 'ACH', 'EFT', 'Direct Deposit', etc...), check the 'sub-account' box and select your bank account that your ACH bank service is with.
If prompted, select 'No.
2. Enable bank account selection
Depending on your edition, this feature may be turned on/off by default.
From the QuickBooks main menu select Edit > Preferences > Payments > Company Preferences. Clear the 'Use undeposited funds' checkbox.
Note: QuickBooks documentation has this feature listed in 'Sales & Customers', rather than 'Payments'. The location may be updated in a future release of QuickBooks.