Previously known as QuickBooks Cash, it began changing in appearance in December of last year. QuickBooks Checking is genuinely an all-encompassing business bank account that integrates seamlessly with QuickBooks Online. 

Everything was on a cash basis in the previous generations, creating an environment where cash flow was manageable. Now everything has become digital, and transactions hit your account days or even weeks later, creating a lack of financial visibility. This makes it difficult for business owners to focus on building the business. 

Instead, they are spending valuable time juggling the stresses of cash flow. When cash can move faster and is available sooner, the company can grow faster. 

With QuickBooks Checking, your deposits are virtually instantaneous without any additional fees. This offers financial visibility to know when you will be able to order supplies or pay your team. Additionally, it saves you time via the automation of entry-free bookkeeping. 

How does it work?  

QuickBooks Checking is similar to other business banking accounts in that it allows small businesses to access their cash and earn interest. It is free to open and does not require a minimum deposit to get started. 

And just like other checking accounts, you can receive a debit card. The difference is that with an instant deposit you can begin spending your funds immediately instead of waiting for incoming funds to clear. You also get access to a virtual debit card, which can be used while waiting on your physical card to arrive. One of the most significant advantages is that it reconciles seamlessly with QuickBooks. 

Additional Integrations

Digital Wallet — You can add your QuickBooks debit card directly into your digital wallet, allowing you to make contactless payments from anywhere.

Envelopes — You can directly put money from your QuickBooks Checking account into Envelopes. This is a great way to set aside funds for rainy days.

Cash Flow Planner — In addition to making financial visibility much easier through instant deposits, QuickBooks also offers a Cash Flow Planner, a machine learning tool that allows you to analyze your business’s cash flow over a period of 90 days and helps you stay proactive.

Mobile Check Deposit — This new feature enables you to deposit checks seamlessly into their QuickBooks Checking account. 

Bill Pay — QuickBooks Checking also integrates with Bill Pay so that you can schedule and manage vendor payments with automatic reconciliation.

Overall, this all-in-one tool can help run and grow your business less stressful and time-consuming with automation and fast funds. Going to one place to manage your banking creates a more productive environment for your business.

To learn how to set up QuickBooks Checking, click here

Liz Scott is a multi-business entrepreneur working to bring together technology and accountants through her business, Liz Scott Consulting. A member of Intuit Trainer/Writer Network, she authored and taught Master level courses, including Advisory Guides and Consulting Tools for Accountants. In addition to Liz Scott Consulting, she also owns Accounting Lifeline, a firm to serve small businesses with their financial needs. Liz is a co-host of the “Appy Hour,” which helps other accountants learn about the different tools and apps for small business needs. Holding a high passion for real estate investment, she owns properties throughout Oklahoma. 

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