Bank account linking disappeared

[ash58]

I don't see the bank account link for pulling my business's expenses anymore (I use TurboTax Premimum for Bussiness). It was there at the beginning, but it has disappeared. It now wants me to enter all the expenses manually! Is this a bug? What should I do?

[SabrinaD2]

To automatically upload your business expenses to TurboTax, you can use the TurboTax Expense Monitor. Here’s how you can do it:

1. Connect Your Financial Accounts: Link your bank accounts and credit cards to TurboTax. This allows TurboTax to import your transactions directly.
2. Categorize Transactions: Once your transactions are imported, you can categorize them as business, personal, or split expenses.
3. Import to TurboTax: At tax time, you can import these categorized expenses into your TurboTax return.

You can get started with the TurboTax Expense Monitor here.

Important points:

• You can use the TurboTax Expense Monitor at the end of the year to import your business expenses. However, it's designed to be most effective when used throughout the year.
•  By regularly connecting your financial accounts and categorizing transactions, you ensure that all expenses are accurately tracked and categorized, which can save you time and reduce errors at tax time1.
• If you  use it only at the end of the year, make sure to review and categorize all your transactions carefully before importing them into TurboTax.

[ash58]

This is not the solution to the issue. Under the Expense section, there is no option to import the data from bank accounts anymore! It has disappeared. When I click on the "Add Expense for this Work", it wants me to add all the expenses manually now! This must be a bug.

[CatinaT1]

You can try these steps to resolve if you are using the online version:

• Clearing your Cache and Cookies
• Using a different browser
• Opening an Incognito Window

[ash58]

I already tried all of those, and none fixed it. Please inform your software developers to fix the bug. It's a shame that we pay so much for a software and have to deal with so many bugs so often! What's the point of paying so much when we have to MANUALLY enter incomes and expenses from bank statements??

[MarilynG1]

The opportunity to link a bank account for Business Expenses is a one-time link.  Try creating a new Business, and enter the initial setup info, then enter some income.  You could use your original business, just change the name a bit.  

Then when you indicate you're Done with Income, you should get a page titled 'Next Up, Claiming Your Expenses!' with a video. Continue, and on the next page you'll see a blue 'Connect My Accounts' button.

Once you're done with this business, you can delete the original business.

@alishahabi 

[user17572940825]

Nothing seems to work. Please fix the problem. None of your temporary solutions seems to work. Thx

[user17738536750]

We tried all of these threads and the only thing that helped was navigating to Tax tools > Tools > Clear / Start Over and we had to re-input all of our other data. It ended up being faster to go that route than to sit and manually input every single business / self-employment expense, so it was well worth it for us. 

On the bright side, we had manually sorted a few of the expenses when we first linked the account (it asked us to review Schedule C the first go around because it was confirming whether or not our misc expenses from the previous year were also part of this year, which they weren't since the auto-feature sorted them into actual categories this year), and the manual sortings from the first go around were automatically implemented after we "started over."

So, to recap, we had to delete all of the "Misc expenses" that we had that had carried over from a previous year, unlinked our bank account by navigating to the Tax home section & removing it manually through "Linked Accounts" and then we hit Clear / Start Over and at that point, it did, in fact, create a new auto-entry gateway to connect our bank accounts.

[user17743252682]

Hello,

I started the process of linking my credit cards into the expenses and I gathered several expenses, but I also have expenses that are NOT under those linked accounts. The only options I see are to link them / connect the accounts or to "type them in manually" is there a way for me to do both? I want to keep the work I have done on linking the expenses, but I also need to adjust them to add the additional expenses. It makes me nervous that if I click "type them in manually" to see what that is like that I will lose all of the work I have already done. Does the program keep track of version history? is it possible to get earlier versions back? What do you recommend? 

Also, will there be additional questions for the expenses down the road? I was advised to add things like utilities, etc. into the expenses but I plan to just do a standard deduction for a portion of the use of my house for office expenses.  I do with it were possible to see where all of this is going in order to be able to make the best choices for deductions now. 

Thanks for your help 

[CatinaT1]

You can link account and enter manually without losing information.

Business use of home expenses are completely separate from your ordinary and necessary business expenses. These expenses, like utilities, etc., will be entered in a separate section.

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