QuickBooks Updated – Add Bank Description to Memo

 New feature lets you add the bank description to the memo

QuickBooks Online is listening to their customers and making regular updates based on feedback.  A recent update that we are very excited about is a feature where you can turn on a setting and have QuickBooks Online automatically copy the downloaded bank description into the memo line of a transaction.  This is a feature that will save a great deal of data entry time.

How to turn on bank description feature

If this sounds like a feature you could make use of, it is very easy to turn on.  First you will need to go to the banking window.  You can access the banking window by clicking on transactions > banking.  (If you need more assistance navigating QuickBooks Online make sure to check out our QuickBooks Online video tutorial series.)  Once in the banking window click on the settings gear on the right hand side of your screen.  Finally check the box that says copy description, then click anywhere else on the screen and the setting will be saved.

bank description

Now all downloaded transactions will copy the bank description into the memo line.  What do you plan to do with all your free time?

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Comments 4

  1. This is somewhat of an improvement. QBO used to add the long bank description prior to the 2014 upgrade. This “improvement” (i.e. fix) now includes a vendor name, but not the actual bank description which often includes location of purchase, which is particularly helpful for businesses with multiple employees who travel. This is a middling improvement, at best, and still means many users will need to copy-paste the actual bank description, entry-by-entry, prior to approving individual records, which is still incredibly time-consuming.

    1. Post
      Author

      Hey Jake,

      Thanks so much for your comment.

      The information that is copied from the bank description varies widely by which bank the client is using. It’s hard for the “robots” in the background to tell what information on that line is going to be useful. If it is not getting useful information for your needs, there are two things you can do.:
      1. Contact your bank to offer them feedback on how they can improve their online banking experience.
      2. Contact QuickBooks to submit your feedback on how they can improve their new tool.

      Of those two things, the later is likely to be much more effective. Obviously QuickBooks is listening, as they added this great new feature to begin with. If it is not working correctly, they will want to know that. You can view our blog on how to submit feedback to QuickBooks here: https://polymath.com/sending-feedback-quickbooks-online/

      Thanks again for your ideas!
      -Ingrid

      1. Thank you, Ingrid.

        My brief flurry of midday frustration quickly fizzled (which is why your page is still open and I’m reading your thoughtful response as I wrap up to go home). I’m not certain how I ended up posting on your site, other than your exceptionally high search rank for quickbooks online “bank description” (#4 via DuckDuckGo, FYI), which happened to coincide with my loss of resolve in finding a solution postdating Intuit’s update.

        In any case, it says much for you and your work that you care enough to (1) approve a semi-combative post and (2) take the time to respond me as I was on the cusp of becoming an accounting troll.

        All the best,

        Jake

        1. Post
          Author

          Hey Jake,

          Our pleasure. That is why we are here, and we love it when people participate on our forum. Please feel free to review our other blogs and videos, post comments, and request new topics. It helps us to know what information is useful for our audience. Facebook is a great way to request topics and ask questions: https://polymath.com/facebook

          Thanks again,
          Ingrid

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