As of June 20th, 2016 Costco has ended their partnership with American Express and started a new partnership with Citibank.  This impacts customers using Quickbooks Online and have their Costco American Express credit card connected to their account.  Customer using the Costco American Express will have their balances and 90-day worth of transactions transferred to Citibank.

Post June 20th, customers will receive a error 324 in their Quickbooks Online connected banking feeds for Costco American Express. The error will prompt the user to disconnect the American Express and try to reconnect. The user will only need to disconnect and not reconnect.

Prior to disconnecting Costco American Express:
  1. Accept all outstanding transactions up to June 20th, 2016 (there should be no transactions after June 20th)
  2. Proceed to disconnect the Costco American Express banking feed
    1. Select Accounting from the left menu.
    2. Select Chart of Accounts at the top.
    3. Select Edit the affiliated Costco credit card account
    4. Select  Disconnect this account on save.

Once you have disconnected the American Express, you can go through connecting your Citibank card as a new connection. Connecting your Bank Accounts to Download Transactions in QuickBooks Online and Troubleshooting when you Can't Connect your Bank 

Prior to connecting the new Costco Citibank Credit Card:
Change the name of the credit card account in the Chart of accounts
  1. Select Accounting from the left menu.
  2. Select Chart of Accounts at the top.
  3. Select Edit the affiliated Costco credit card account
  4. Rename the account if necessary to reflect Citibank account
Connect Costco Citibank Credit Card:
  1. Select Banking from the left menu.
  2. Select Add account.
  3. Enter Citibank Card (Citibank must be one word)
  4. Follow prompts to connect account
After you have successfully connected new Costco Citibank Credit Card:
  • 90-days worth of transactions will upload on the initial connection to Citibank.
  • These transactions would be match up to the 20th of June, 2016.
  • If there are transactions that are not automatically matched, they can be excluded from the banking screen.  
  • Automatically matched transactions can be accepted and will have no impact on the financial reporting.
  • There will not be a new opening balance uploaded.
  • Any transactions after the June 20th, 2016 date can be Assigning, categorizing, editing, and adding your downloaded banking transactions as done before.