This may be old news for most of you, but QuickBooks has been building some pretty impressive bank integration. QuickBooks will let you set up integration to your bank in multiple ways.
The most basic functionaity is to retrieve information from your bank. In most banks, this is free, but some “big box” banks will charge you a monthly fee. This feature allows you to either create transactions in QuickBooks from the bank (this holds true for credit card activity as well) or simply have QuickBooks auto reconcile with the information you already have in QuickBooks.
In addition, you can actually send vendor payments to your bank and have them actually send the paymenets. This means no more A/P runs, no more check processing. There is a charge for this service, but it is much cheaper than the traditional method of processing. We have used this functionality internally since 2007 and it saves us a tremendous amount of time.
If you want us to show you how this functionality works or how to integrate it into QuickBooks, just give us a call.