Why Change the Bank Feed in QuickBooks Online? A Skeptic’s Perspective
If you have been using QuickBooks Online for a while, you probably know your way around the old bank feed. It was not perfect, but at least you knew what to expect. When Intuit announced a new bank feed with AI features, you might have rolled your eyes and wondered why they had to change something that was working just fine.
Change can be uncomfortable, especially when it comes to the tools you use every day. It is easy to get used to a certain workflow. You know where to click, what to look for, and how to fix things when they go wrong. The old bank feed let you download transactions, match them up, and categorize them yourself. If QuickBooks guessed wrong, you just fixed it and moved on. Maybe it took a little longer, but at least you were in control.
Now QuickBooks is introducing an AI-powered bank feed. Here is what it is trying to accomplish, even if you are not sure you want it.
What are the differences with the old bank feed?
| Old Bank Feed | New AI-Powered Bank Feed | What's Different? |
|---|---|---|
| Match QuickBooks suggests transactions that look identical to entries in your books. |
Match (AI-Powered) AI suggests matches with higher accuracy and provides a switch to toggle between Match and Categorize. |
AI learns your preferences and improves suggestions over time. The switch makes changing between Match and Categorize easier. |
| Categorize You manually choose an account or category for each transaction. |
Categorize (with Suggestions) AI suggests categories based on your history and other businesses. |
Suggestions are more personalized and visible. You see a "Suggested by AI" icon for confidence picks. |
| Rules User-created rules auto-categorize transactions. |
Rule Badge Rules still apply, but now show a badge when used. |
Rules are more clearly marked, so you know when they’re applied over AI suggestions. |
| Split Option to split a transaction into multiple categories (not always obvious). |
Split (Dropdown) Split and categorize history options are now in an easy-to-find dropdown. |
Splitting is more accessible and visible in the Action column. |
| For Review / Reviewed Transactions are either pending (For Review) or posted (Reviewed). |
Pending / Posted Pending transactions await your action; Posted transactions are in your books. |
Terminology is updated for clarity, but the workflow is similar. |
| Transfers & Card Payments Manual identification, risk of duplicates. |
Pair Badge AI flags transfers and credit card payments with a Pair badge. |
Reduces duplicates and makes these transactions easier to spot. |
| Customization Limited ability to add or remove columns or resize the table. |
Customizable Table Add, remove, or resize columns; inline editing is available. |
More control over what you see and how you work. |
| Manual Collaboration Requests for info handled outside QuickBooks (email, calls). |
Requests for More Information Request info or documents directly from the transaction. |
Streamlines collaboration with accountants or clients. |
| No Batch Posting Each transaction handled one at a time. |
Ready to Post Batch review and post high-confidence transactions at once. |
Saves time by grouping transactions for faster posting. |
| Basic Suggestions QuickBooks sometimes guessed, but not always well. |
Suggested by AI Icon See when QuickBooks has high-confidence suggestions and why. |
More transparency and control over suggestions. |
| Limited History Past categorizations not always easy to find. |
Categorization History View how you categorized similar transactions for a vendor or customer. |
Helps keep your records consistent and reduces guesswork. |
Less Manual Work
The new bank feed uses AI to suggest matches and categories for your transactions. The idea is to save you time by reducing repetitive work. Instead of going through every transaction manually, QuickBooks tries to figure out where each one belongs. The more you use it, the better it is supposed to get at copying your choices.
Customization
You can now adjust your transaction list. You can add or remove columns, resize the view, and edit information right in the list. If you want to split a transaction or see how you have categorized something in the past, it is easier to find those options. Select the Settings icon directly above the table in the Bank transactions tab to customize your transaction list.
Smarter Suggestions
Whenever QuickBooks is confident about a match or category, it will show a "Suggested by AI" icon. You can click it to see why QuickBooks thinks it is a good fit. If you do not agree, you can change it. The system is supposed to learn from your corrections.
Fewer Duplicates
QuickBooks tries to identify transfers and credit card payments between your accounts. It adds a "Pair" badge to these transactions to help prevent duplicates. This should make your books cleaner and reduce errors.
Rules Still Work
If you have set up rules, they still take priority. When a rule is applied, you will see a "Rule" badge. AI suggestions will not override your custom rules.
Batch Processing and Collaboration
The new "Ready to post" feature groups together transactions that QuickBooks is most confident about. You can review and post them all at once. If you need more information from your accountant or client, you can request it directly from the transaction.
Clearer Status
Pending transactions are those downloaded from your bank that you have not reviewed yet. Once you match or categorize them, they move to the Posted tab and become part of your official records.
Why Make These Changes?
QuickBooks is hoping that these changes will help you:
- Save time by cutting down on repetitive tasks
- Reduce mistakes by making smarter suggestions and preventing duplicates
- Customize your workspace so you see what matters most to you
- Get better at categorizing transactions as the system learns from your choices
- Make it easier to work with accountants or clients by asking for info right from the transaction
Final Thoughts
If you are someone who prefers things to stay the same, you might not be excited about the new bank feed. But if it really does save time and make your books more accurate, it could be worth a try. You still have control. You can always review, edit, or override any suggestion. The goal is to help you spend less time on busywork and more time on the things that matter most.
While change is uncomfortable, and your feedback is important to help shape future updates, simply complaining about the change is not constructive. This update is likely to become the standard for everyone, so adapting and sharing thoughtful feedback will help everyone get the most out of it.
To make this transition easier, we have compiled all the best resources and training for these new features into one place. Check out our QBO Bank Feed Course for step-by-step guidance, tips, and everything you need to get up to speed with the latest updates.
Are you still on the fence about the new bank feed? Share your thoughts or questions in the comments. Let’s figure it out together.
If you would like to learn more tips and tricks, click here to access our entire course library!!
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