open banking

When switching to an Open Banking feed in QuickBooks Online (QBO) Australia, the system automatically clears unreviewed transactions from your old feed and re-downloads them as fresh data in your Pending tab.

To clear this queue, ensure you manually assign a specific GST code to every transaction before posting it to your Account History.

Methods to Process Pending Transactions:

• Match Existing Transactions (1-by-1): Link the downloaded data to existing ledger entries individually to prevent duplicate records.
• Add New Transactions Manually: Assign the appropriate category and specific GST code to genuinely new transactions before adding them to your books.

I've included this article on using bank rules to automatically categorize transactions from your bank: Set up bank rules to categorise online banking transactions in QuickBooks Online.

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