How to Deal With QuickBooks 2009 Online Banking

| February 18, 2009 | 9 Comments

I’ve written several posts about the problems with the new online banking feature in QuickBooks (here, here and here), and in this article I’m going to provide you with some resources to help you if you have to deal with these problems. (Note that on 3/17/2009 I published a followup article)

To summarize – the initial release of QuickBooks 2009 included a rewritten Online Banking feature that is quite different than what was used in prior versions. This new program feature is seriously flawed at best – I’ve been told by some very knowledgeable people that it can create major problems if you use it.  Unfortunately, many people have to live with this update:

  • It is getting harder to purchase older versions of QuickBooks.
  • Once you have used the 2009 product it is hard to move back to an older version.
  • Some people need the features only found in the 2009 product, such as multiple currencies

Please note that if you are NOT using online banking, I believe that the 2009 product is very good. Many people don’t use the online banking feature (that is something that we argue about a lot), the 2009 program works very well for those people.

Fixing Problems

If you have been using (or trying to use) the online banking feature, Kathy Ivens of CPA911 has some excellent articles that can help you. She has very graciously allowed me to post her PDF article Correcting Transactions Added in 2009 Online Banking, which will help you correct trnasactions that may have been posted incorrectly. In addition, see her article “Problem Adding Some Transaction Types“.


As an alternative to using the QuickBooks function, you can purchase a program from Zachary Systems that can be used to import information from your bank. Many banks provide you with files that contain banking information – these may be QIF, QBO or other file types. Zachary Systems has a relatively low cost addon product that can be used to import these files. Please note that I have not tested this, so I’ not necessarily endorsing it. I’ve been told by others that it works reasonably well – it could do more, but it does better than the current QuickBooks feature (and it won’t cause problems).

Going Back

Once you have converted your older QuickBooks file to the 2009 format you can no longer open it with your older program. If you have a good backup, and you haven’t done a lot of work with the 2009 program, you can restore the old backup and continue with the old program (until Intuit fixes their problems). However, if you have a significant amount of transactions in the 2009 program, that might not be feasible.

One way to get around this is to use the Data Transfer Utility from Karl Irvin. This might not solve all your problems, but it is one way to move back to an older version. It works best, I believe, if you are going back just to the 2008 version. I wrote a review on this product last year. Karl’s programs are very reliable and useful – note that it might not move ALL of your updated data back to the prior year (no third party product can move everything due to limitations from Intuit).

What is Intuit Doing to Fix This

Intuit has been working on fixing the problem. There have been several updates (R4, R5) that have addressed some of the problems, but not all. Today they announced another revision (R7) which will tentatively be released later in March (it is unusual for them to pre-announce a release like this). They state that it will let you have access to multiple QuickBooks windows while users work in Online Banking, and that the feature will perform faster. There also are some other “minor changes” which haven’t (at this time) been explained.

Intuit has a Wiki page that will be used to post announcements.

You can also find an ongoing discussion in the Intuit Community Forum.

Also, I’ve written a followup article on 3/17/2009 that includes an interview with Greg Wright of Intuit.

If anyone has anything to add that will help people to fix problems, please let us know in a comment here. Note that I may limit the postings here, I’m hoping just for solutions, not diatribes. The Intuit Community Forum is a great place to vent steam.

Tags: ,

Category: General Tips, Program Updates, QuickBooks 2009

About the Author (Author Profile)

Charlie Russell is the founder of CCRSoftware. He’s been involved with the small business software industry since the mid 70’s, focusing on inventory and accounting software for small businesses. Charlie is a Certified Advanced QuickBooks ProAdvisor. Look for Charlie’s articles in the Accountex Report blog, as well as his California Wildflower Hikes blog.

Comments (9)

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    I got two accounts to work this time after hours of failure.

    With WebConnect, it appears that all previous downloaded transactions have to be matched, with zero remaining.

    Go to “edit account” and click “online services” then click “deactivate all online services”. Close QB2009, go to your online bank and download. After this worked, I went back to “edit account” / “online services” and discovered that it had automatically RE-ACTIVATED online services.

    It appears that the account will have to be “deactivated” each time and all current downloaded transactions matched and confirmed before repeating the process at next download.

    Let me know if this helps.

  2. mike donahue says:

    Thank you for your suggestion regarding the ebook, however i am having trouble finding it, is it possible the ebook has been discontinued? when i attempted to get to the ebook it took me to a site where i could order the book. i need help in setting up accounts to keep track of expenses for a small insurance agency, one to two employees. i have been attempting to learn quickbooks, after using microsoft money for years-although i did not have that system down very well. Do you have any suggestions that would give me some basic accounting background and then assist me in using quickbooks.

    thank you.

    • Charlie says:

      Mike, if you have an older version than 2009, it won’t be available. I believe that the 2009 version is still available. I can’t post a copy here, that violates the distribution rules. Any ProAdvisor should be able to get you the current version. You can contact me (as I am a ProAdvisor) directly and I can help you with this. See my contact information in the “about” heading at the top of this page.

  3. joe says:

    please help

    ….when i download transactions from online banking and then record them as a batch i set the correct tax code but it is ADDED to the downloaded amount not backed out…. so the amount will never match because it is the downloaded amount plus tax not including tax. i called tech support and he said he can fix but i have to pay for business support. they must be kidding……….their software has a glitch and they want me to pay to fix it !!!! i refused to pay so he refused to help.

    he said there was a fix …….. so does anybody know how?

  4. Cienwen says:

    I set up my company for 2010 and have made entries. When I return to QuickBooks the next time, the entries and the 2010 company has disappeared. I have done this four times and now, it seems all the entries from March of 2009 have disappeared.

    • Charlie says:

      Cienwen, that is a bit off topic on the “online banking” feature. Sounds like you either have a problem in your setup or the data file is damaged. Try a Rebuild of the database (File/Utilities/Rebuild)

  5. Debbie says:

    I am having difficulty w/online banking vendor auto prefill . . . QBpro2010 R14p still does not operate properly when downloading multiple transactions , , , sometimes it gets the vendor right, sometimes the account is right – even though i took the time to individually fill out the vendor prefill info (a waste of valuable time, i might add) 6 of 1, ½ dozen of the other. don’t know which is more annoying – the guise of online banking technology or going back to manual…would be nice if they paid attention to complaints since we are (almost) forced to upgrade every year! Customer Service . . . a thing of the past. . . ps its january 2012

  6. Becky says:

    I can’t find any information online about how to use QuickBooks for accounting WITHOUT using the online banking feature. Any suggestions?

    • Charlie says:

      Becky, online banking is just something that might (and might not) save you time. I personally don’t use it. I just enter the transactions directly. Enter checks, bills, credit card charges, all using the normal features found in QuickBooks itself.

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