Frequently Asked Questions

What is Direct Connect?
Direct Connect is an Intuit solution that provides all Presidential Online Business Banking customers the ability to automatically connect and access their account information and download transactions directly from within Quicken or QuickBooks.

How is Direct Connect different from Web Connect?
Web Connect is a way to download transactions from the Bank's online banking and import them manually into Quicken or QuickBooks. Direct Connect links directly to accounts through online banking. Once Direct Connect is connected, you won't need to login to Presidential Online Banking first and manually download transactions – Quicken/QuickBooks will do this for you.

Will Web Connect remain available?
Yes, but see below to learn how to convert to Direct Connect.

How do I enroll in Direct Connect?
You can register for Direct Connect in Business Online Banking. Click here for instructions.

Is Direct Connect available to all Presidential business customers?
Yes. Direct Connect is an option through Quicken and QuickBooks for all Presidential Bank clients enrolled in online banking. This includes small business, and commercial customers.

Is there a fee for Direct Connect?
Direct Connect is included with Business Online Banking.

Are there requirements to use Direct Connect?
Yes, you will need Presidential Online Business Banking and Quicken or QuickBooks. The Quicken or QuickBooks version you are using should be the current version or one of the previous two versions.

How can I switching from Web Connect to Direct Connect?
You will need to modify your PFM settings to ensure the smooth transition of your data. To complete these instructions, you will need your login credentials for Business Online Banking and Direct Connect. Ensure you are following the appropriate instructions below according to your operating system and software. You should perform the following instructions exactly as described, and in the order presented. This conversion should take 15-30 minutes.

QuickBooks Mac
Task 1: Conversion Preparation
Backup your data file. Go to File, then select Back Up and choose a location to save your QuickBooks file.
Download the latest QuickBooks update. Go to QuickBooks (left of File on top bar) and select Check for QuickBooks Updates.

Task 2: Disconnect Accounts in QuickBooks. Choose Lists menu > Chart of Accounts.
Select the account you want to deactivate.
Choose Edit menu > Edit Account.
In the Edit Account window, click Online Settings.
In the Online Account Information window, choose Not Enabled from the Download Transaction list and click Save. Click OK for any dialog boxes that may appear.
Repeat steps for each account to be converted.

Task 3: Reconnect Accounts to Presidential Business Direct Connect
Choose Banking menu > Online Banking Setup.
Enter, then select Presidential Business Direct Connect from the Financial Institution list. Click Next.
Follow the instructions in the wizard. If prompted for connectivity type, select Direct Connect. Select the account you want to deactivate.
The Online Banking Assistant window displays during setup. Select "Yes, my account has been activated for QuickBooks online services," then click Next.
Enter credentials and click Sign In.
For each account you wish to download into QuickBooks, click Select an Account to choose the appropriate existing account register.
IMPORTANT: Do NOT select "New" under the action column.
Click Next, then Done.
Add or match all downloaded transactions in the Downloaded Transactions window.

Quicken Mac
Task 1: Conversion Preparation

Back up your data file. Go to File > Save a Backup.
Download the latest Quicken Update. Go to Quicken > Check for Updates.

Task 2: Connect Accounts to Presidential Business Direct Connect
Select your account in the Accounts list on the left sidebar.
Choose Accounts menu > Settings.
Select Set up transaction download.
Enter Presidential Business Direct Connect in the Search field, select the institution name in the Results list and click Continue.
Enter your Direct Connect User ID and Password and click Continue.
Additional information may be required, enter it to continue.
NOTE: Select "Direct Connect" for the "Connection Type" if prompted.
In the "Accounts Found" screen, associate each new account to accounts in your Quicken data file. Under the Action column, select "Link" to pick your existing account. When complete, click Finish.
IMPORTANT: Do NOT select "ADD" under the action column unless you intend to add a new account to Quicken.

QuickBooks Windows
Task 1: Conversion Preparation
Backup your data file. Go to File, then select Back Up Company > Create Local Backup and choose a location to save your QuickBooks file.
Download the latest QuickBooks Update. Go to Help > Update QuickBooks Desktop.
NOTE: If multiple computers do not use the same QuickBooks data file, skip step 3. QuickBooks activities such as Online Banking cannot be performed in multi-user mode.
Switch to Single-user mode if you are currently in Multi-user mode. Go to File > Switch to Single-user mode.
NOTE: If you are not using Classic Mode (Register Mode), enable it for the conversion. You can change it back after the conversion is complete.
Enable Classic Mode (Register Mode) if you are currently in Express Mode. Go to Edit > Preferences > Checking > Company Preferences > select Classic Mode.

Task 2: Disconnect Accounts in QuickBooks
Choose the Lists menu > Chart of Accounts.
Select the account you want to deactivate.
Click Edit menu > Edit Account.
Click on the Bank Feed Settings tab in the Edit Account window.
Select Deactivate All Online Services and click Save & Close.
Click OK for any dialog boxes that may appear.
Repeat steps for each account to be disconnected.

Task 3: Reconnect Accounts to Presidential Business Direct Connect
Choose Banking menu > Bank Feeds > Set Up Bank Feed for an Account.
Enter, then select Presidential Business Direct Connect - Click Next.
If prompted for connectivity type, select Direct Connect.
Link your bank account with the existing QuickBooks account and click Connect.
IMPORTANT: Verify that all transactions downloaded successfully into your account registers.

Task 4: Re-enable Express Mode (if necessary)
NOTE: If you prefer Classic Mode (Register Mode), you are finished with your conversion. If you use Express Mode for online banking, you may now re-enable the mode.

To re-enable Express Mode register mode (Optional) Go to Edit > Preferences > Checking > Company Preferences > select Express Mode.

Quicken Windows
Task 1: Conversion Preparation
Back up your data file. Go to File > Backup and Restore > Backup Quicken File.
Download the latest Quicken Update. Go to Help > Check for Updates.

Task 2: Disconnect Accounts in Quicken
Choose Tools menu > Account List.
Click the Edit button of the account you want to deactivate.
In the Account Details dialog, click on the Online Services tab.
Click Deactivate. Follow the prompts to confirm the deactivation.
Click on the General tab.
Remove the financial institution name and account number. Click OK to close the window.
Repeat steps for each account to be disconnected.

Task 3: Reconnect Accounts to Presidential Business Direct Connect
Choose Tools menu > Account List.
Click the Edit button of the account you want to activate.
In the Account Details dialog, click on the Online Services tab.
Click Set up Now.
Use Advanced Setup to activate your account.
Enter Presidential Business Direct Connect in the search field, select the name in the list and click Next.
If presented with the Select Connection Method screen, select Direct Connect.
Type your Direct Connect User ID and Password and click Connect.
Ensure you associate the account to the appropriate account already listed in Quicken. You will want to select Link to an existing account and select the matching accounts in the drop-down menu.
IMPORTANT: Do NOT select Add to Quicken unless you want to add a new account to Quicken. If you are presented with accounts you do not want to track in this data file, select Ignore - Don't Download into Quicken.
After all accounts have been matched, click Next. You will receive confirmation that your accounts have been added.
Click Done or Finish.

Setting Up Direct Connect Online Banking
Follow the instructions below once Presidential has confirmed your enrollment in Direct Connect and provided your login credentials.

QuickBooks Mac
Open QuickBooks.
Click Banking and select Online Banking Setup. The “Online Banking Assistant” appears.
Select Presidential Business Direct Connect, Next, and Next.
Key in your Direct Connect login credentials and Sign In.
QuickBooks will connect to Presidential and download your enrolled accounts. QuickBooks will ask you how to link your online accounts to the accounts that you have defined in your data file. For each online account that you want to download, you must choose a local account. After associating the accounts, click Next. Follow the instructions in any subsequent prompts, if applicable.

QuickBooks Windows
Open QuickBooks.
Click Banking, Bank Feeds, select Set Up Bank Feed for an Account. The “Bank Feed Setup” assistant appears.
Select Presidential Business Direct Connect and Continue.
Key in your Direct Connect login credentials.
QuickBooks will connect to Presidential and identify your list of accounts.
Link your accounts and connect. QuickBooks completes the transaction download for the accounts you have linked. Follow the instructions in any subsequent prompts, if applicable
Last Modifications: 6/29/2021 9:37:33 AM