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My credit card was recently compromised, which luckily my credit card company caught in time.
One of the biggest new features for 2018 is Quicken’s expanded Mac options. For the first time, Mac users can decide between different products based on what suits their needs. There are two connection methods for importing your Smart Financial online banking account information. Express Web Connect (known as Quicken Connect in Quicken Mac) Automatic connection method.
They called and asked if I had made some strange transactions. When I answered that those were in fact not my transactions, they immediately deactivated that credit card and sent me a new one by FedEx overnight express.
Problem solved, right?
Well, after I updated all my online bills with the new credit card number I thought everything was taken care of. Then I went to reconcile my accounts in Quicken and was informed by Quicken that it couldn’t connect to my credit card account.
How to resolve this problem?
I tried resetting the account as prompted by Quicken, but that did not solve the problem.
Then I came across this solution. The problem with connecting to my credit card account was caused by Quicken having a different credit card number than the credit card company.
In order to keep the same account, but change the credit card number associated with it, you have to deactivate and reactivate One Step Update for that account.
This is a simple procedure that only takes a few minutes. Here are the steps:
- Go to the Account List (Press Ctrl+A or look in the Tools menu)
- Find the credit card account and click “Edit”
- Click on the Online Services tab of the Account Detail window and click the deactivate button
- On the General tab, delete the account number and enter the new account number
- On the Online Services tab, reactivate One Step Update
- When prompted, make sure to choose “Link” instead of “Add” and choose the correct account listed in Quicken
Using these steps saved me a lot of frustration when I had to update my credit card number, but keep the same credit card account in Quicken. Everything worked flawlessly and I was able to continue downloading transactions to the correct credit card account.
I hope this short article proves helpful to others who have run into the same problem with a changed credit card number.
Thanks for visiting this site. If you found the article useful, feel free to share with others and/or leave a comment below.
Nate Phillips has been using Quicken and TurboTax for almost 20 years. He has spent part of that time as a Quicken beta tester, helping identify bugs and annoyances with Quicken updates before they are released. Nate holds a master’s degree in Computer Science and has numerous technology certifications.
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For Chase banking customers, QuickBooks offers a number of powerful tools for managing a business. One of these tools is the software's ability to track income and expenditures and keep accounts in sync by integrating with the bank's software systems over an Internet connection. As a customer of Chase, you download account transactions to an external file and import them into QuickBooks with no fee. You can also create a direct connection to Chase from within QuickBooks and receive transactions automatically for a monthly fee. Once the transactions are available, you can use the information to reconcile accounts and simplify your financial bookkeeping.
Using Web Connect
1.Log on to the Chase Online Banking page (see Resources). If you do not use Chase Online to manage your accounts, click on the 'Enroll Now' button to register for an online user account.
2.Click on the 'Customer Center' tab once you have logged onto Chase Online. Scroll down to 'Reference Center' and click on the link 'Activate Money, Quicken, etc...'
3.Click on 'Download Now (no charge)' to create a QuickBooks OFX-formatted file on your desktop and then click 'Continue.'
4.Select the account from which to download transactions and then choose a date range of transactions.
5.Click on the 'QuickBooks' radio button and select the version of QuickBooks you are using from the drop-down list. Click the 'Export' button.
6.Click the 'Save' button if prompted and choose a destination folder to save the file. Intuit recommends saving the file to the desktop.
7.Go to the destination folder that contains the OFX-formatted file. Right-click on the file and rename it to 'Filename.qbo' (include the quotation marks), where filename is the name of your downloaded file. This step is necessary because the QuickBooks Web Connect recognizes only QBO-formatted files.
8.Open QuickBooks on your computer. Go to the 'File' menu and access 'Utilities,' 'Import' and 'Web Connect Files...' Navigate to the desktop and locate the OFX-formatted file you downloaded from Chase Online. Click 'Open' to continue.
9.Select 'Use an existing QuickBooks account' when prompted in the 'Select Bank Account' dialog and choose your account from the drop-down list. If your account is not listed, select 'Create a new QuickBooks account' and type in a name. Click 'Continue.'
10.Go to 'Online Banking' under 'My Shortcuts' to review and match the transactions you downloaded for this account.
Using QuickBooks' Direct Connect
1.Log on to the Chase Online Web page (see Resources).
2.Click the 'Customer Center' tab and scroll down to the 'Reference Center.' Click on the link for 'Activate Money, Quicken, etc...'
3.Select 'Activate Direct Access through the PFM service ($9.95/month)' and click 'Continue.' Follow the onscreen instructions to complete the setup for direct access.
4.Open QuickBooks on your computer. Go to the 'Banking' menu. Choose 'Online Banking' and then 'Set Up Account from Online Services.'
5.Select the company account from the drop-down list or enter the name of a new account. Click 'Next' to continue.
6.Scroll down and locate 'Chase' from the Financial Institutions drop-down list or type 'Chase' in the box. Click 'Next' to continue the account setup.
7.Choose 'Direct Connect' and click 'Next.' Check the box next to 'Yes, my account has been activated for QuickBooks Online Services.' Click 'Next' to continue setup.
8.Enter your Chase Online username and password when prompted. Select the online account to access and download.
9.Choose 'Download Online Accounts' and 'Receive Transactions.' Click 'Finish' to complete the linking process.
Things Needed
- Chase Online account username and password
Tip
- Online account balances and transactions are usually current up to the prior business day.
References (3)
About the Author
Kammy Pow studied biological sciences at the University of California Irvine. She spent 13 years as a programmer for the financial, medical research, and healthcare sectors. She has been freelancing since 2005 and currently writes health-care related material and pens the occasional review for Southern California altweeklies.
Cite this Article Choose Citation Style
Pow, Kammy. 'How to Download & Import Chase Banking Transactions Into QuickBooks.' Small Business - Chron.com, http://smallbusiness.chron.com/download-import-chase-banking-transactions-quickbooks-57101.html. Accessed 21 October 2019.
Pow, Kammy. (n.d.). How to Download & Import Chase Banking Transactions Into QuickBooks. Small Business - Chron.com. Retrieved from http://smallbusiness.chron.com/download-import-chase-banking-transactions-quickbooks-57101.html
Pow, Kammy. 'How to Download & Import Chase Banking Transactions Into QuickBooks' accessed October 21, 2019. http://smallbusiness.chron.com/download-import-chase-banking-transactions-quickbooks-57101.html
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