You've made a smart decision to grant your accountant access to your Bank of America business account! This will streamline your financial processes, make tax season a breeze, and ensure your books are always in tip-top shape. But, as with anything involving your finances, it's crucial to do it securely and correctly.
This comprehensive guide will walk you through the process step-by-step, ensuring you grant the right level of access and maintain full control over your business accounts. Let's get started!
How to Give Accountant Access to Bank of America: A Step-by-Step Guide
Step 1: Understand Access Levels and Why "View-Only" is Often Best
Before you even log in, let's understand the different types of access you can grant. This is a critical first decision. Bank of America typically offers various user roles, but for an accountant, you'll generally be looking at:
- View Access (Inquiry Access/Basic Access): This allows your accountant to only view account balances and activity. They can see transactions, statements, and other financial data, but they cannot initiate transfers, make payments, or perform any transactional activities. For most accountants and bookkeepers, this is the recommended access level. It provides them with the information they need to do their job (reconciling accounts, preparing reports, etc.) without giving them control over your funds.
- Transactional Access (Financial Access/Full Access): This level of access grants the user the ability to transfer funds, make payments, perform account maintenance, and view balances and activity. It is generally NOT recommended to give your accountant transactional access unless you have a very specific, pre-defined agreement and absolute trust, as it gives them the same control over your money as you have.
Why is "View-Only" the Gold Standard for Accountants?
- Security: It significantly reduces the risk of unauthorized transactions or fraud. Your accountant can't move money out of your account.
- Accountability: You maintain full control and oversight of all outgoing funds.
- Clarity of Roles: It clearly defines the accountant's role as a financial record-keeper and advisor, not a money manager.
Step 2: Log In to Your Bank of America Small Business Online Banking
To begin, you'll need to access your Bank of America Small Business Online Banking portal.
- Go to the Official Bank of America Small Business Website: Open your web browser and navigate to the Bank of America Small Business banking site. You can typically find this by searching "Bank of America Small Business" or going to
bankofamerica.com/smallbusiness/. - Log In: Enter your Online ID and Passcode to log in to your business account. Make sure you are logging into your business account, not a personal one.
Step 3: Navigate to User Management or Account Permissions
Once logged in, you'll need to find the section for managing users or account permissions. The exact wording might vary slightly depending on Bank of America's current website interface, but generally, look for:
- "Business Services" tab: This is a common place to find user management options.
- "Add new user" link: Look for this specifically, often under a "User Maintenance" or "Account Permissions" section.
- "Account Management" or "Manage Users": These phrases are also good indicators.
You might find this under a "Profile & Settings" menu or similar administrative section within your online banking dashboard.
Step 4: Add Your Accountant as a New User
Now it's time to officially add your accountant to your online banking profile.
- Click "Add new user": Once you've located the correct link, click on it to begin the process of adding a new user.
- Enter New User's Details: You will be prompted to enter your accountant's information. This typically includes:
- First Name
- Last Name
- Email Address
- You might also be asked to create a unique Online ID and a temporary Passcode for them. It's crucial that this is a unique Online ID, not one that already exists or is shared.
- Click "Continue" or "OK": After filling in the required details, proceed to the next step.
Step 5: Assign Account Access Levels
This is the most crucial step where you define what your accountant can see and do.
- Go to "Account & Services" Tab (or equivalent): After creating the user, you'll likely be directed to a new user's profile or a section where you can manage their access. Look for a tab or section labeled "Account & Services," "Manage access," or "Account Permissions."
- Select Accounts to Grant Access To: You will see a list of your business accounts. Carefully select each account you want your accountant to have access to. This might include checking accounts, savings accounts, or even business credit cards if they need to see those transactions for reconciliation.
- Choose the Access Level: For each selected account, you'll need to specify the level of access.
- Strongly recommend checking "View Access" or "Inquiry Access" for your accountant. This allows them to see transactions and balances without the ability to move funds.
- Avoid selecting "Transactional Access" or "Full Access" unless absolutely necessary and with a clear understanding of the implications.
- Review Additional Settings (Optional): Bank of America may offer additional granular settings, such as:
- Allowing the user to view statements.
- Allowing the user to view check images.
- These are generally safe to enable for an accountant.
- Click "Continue" or "Save": Once you have configured the access levels for all relevant accounts, save your changes.
Step 6: Communicate with Your Accountant
After you've set up their access, it's essential to communicate the details to your accountant.
- Provide their Online ID and Temporary Passcode: Give them the login credentials you created.
- Explain the Access Level: Clearly communicate that they have "View-Only" access (or whatever level you granted). This helps manage expectations and ensures they understand their permissions.
- Instruct Them to Log In and Change Passcode: Advise your accountant to log in as soon as possible and change their temporary passcode to something secure and personal.
Step 7: Regular Review and Monitoring
Granting access is not a one-time event. Regularly review your accountant's access to your Bank of America account.
- Quarterly Review: Make it a habit to review user permissions at least quarterly.
- Changes in Relationship: If you change accountants or if their role evolves, immediately update their access levels. Remove access entirely if they no longer need it.
- Monitor Activity: While "View-Only" access minimizes risk, it's always good practice to regularly review your account activity for any discrepancies.
By following these steps, you can confidently grant your accountant access to your Bank of America business account, fostering a more efficient financial management system while maintaining robust security.
10 Related FAQ Questions
How to Check My Accountant's Current Access Level on Bank of America?
You can check their access by logging into your Bank of America Small Business Online Banking, navigating to the "User Maintenance" or "Manage Users" section, selecting your accountant's profile, and reviewing the "Account & Services" or "Access Levels" tab.
How to Remove an Accountant's Access from My Bank of America Account?
Log in to your Bank of America Small Business Online Banking, go to "User Maintenance" or "Manage Users," find your accountant's profile, and select the option to "Delete User" or "Remove Access" from all accounts.
How to Change My Accountant's Permissions on Bank of America?
Log in to your Bank of America Small Business Online Banking, go to "User Maintenance" or "Manage Users," select your accountant's profile, and then modify their permissions under the "Account & Services" or "Access Levels" tab.
How to Add Multiple Users to My Bank of America Business Account?
The process is the same as adding a single user. Go to "Business Services" -> "Add new user" and repeat the steps for each individual you wish to grant access to.
How to Integrate QuickBooks with My Bank of America Account?
Bank of America typically offers direct integration with QuickBooks. You can usually find this option within your online banking portal, often under "Account Management" or "Connected Apps." Follow the prompts to authorize the connection.
How to Find My Bank of America Business Online Banking Login Page?
You can find it by going to bankofamerica.com/smallbusiness/ and looking for the "Sign In" or "Log In" button, usually located in the top right corner of the page.
How to Securely Share Financial Documents with My Accountant Besides Bank Access?
Consider using secure cloud-based accounting software (like QuickBooks Online or Xero), secure file-sharing services, or direct integrations provided by Bank of America for sharing documents, rather than emailing sensitive information.
How to Set Up Alerts for Account Activity on Bank of America?
Log in to your Bank of America Online Banking, go to "Alerts" or "Notifications" within your settings, and you can customize various alerts for transactions, balances, and security events.
How to Contact Bank of America Small Business Support?
You can typically find contact information on their website under "Customer Service" or "Contact Us." They usually offer phone support and sometimes online chat for business banking queries.
How to Ensure My Bank of America Online Banking is Secure?
Always use a strong, unique password, enable two-factor authentication if available, keep your contact information updated with the bank, and be wary of suspicious emails or calls. Bank of America's "Security Center" within online banking provides more tips.
