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S
SamanthaSB
May 4, 2021
Question

Matching transactions

  • May 4, 2021
  • 1 reply
  • 31 views

Hello, 

 

I am having a difficult time matching transactions from the bank feed. The transactions either don't show up at all, or the dates that they cleared are incorrect. I have been manually categorizing transactions instead of matching them and I noticed many invoices still say unpaid. 

 

I am assuming this is occurring because I did not match them so technically they still stand unpaid. This has happened for about 3 months, which I have reconciled already, and I just want to clean this mess up before it gets worse. 

 

I am not sure how to approach this issue. I tried undoing the transactions I categorized and then matching them, but I find the same exact issue, the dates are way off, it will reflect several incorrect vendors, or it won't show at all. 

 

Thank you in advance for the help! 

 

Samantha Breeden

    1 reply

    A
    AileneAModerator
    Moderator
    May 4, 2021

    Hello, SamanthaSB. 

     

    When you use the bank feed in QuickBooks Online, you'll be able to add or match your transactions to ensure QuickBooks Online matches what's in your real-life bank account.  

     

    1. Go to the Banking menu, and then hit the Banking tab.
    2. If QuickBooks has found a possible match for the bank transaction, QuickBooks displays an outlined green box under the Category or Match column that says 1 record found message to the matching transaction.
    3. Tick the boxes next to the transaction and then Accept.
    4. For multiple invoices, click the deposit transaction and then tap the Find match radio-button. This will open the Match transactions page where you can choose the transactions to match.
    5. For duplicate records, mark the box next to the transaction and then choose Exclude. 

     

    For details about matching downloaded transactions, check out these guides:

     

     

    Additionally, you can set up a bank rule to automatically categorize your transactions. Please refer to this article for the steps: Set up bank rules to categorize online banking transactions in QuickBooks Online. 

     

    Feel welcome to message me anytime if you still have questions or concerns. I'm always here to help. Take care and have a lovely day ahead.

    S
    SamanthaSBAuthor
    May 4, 2021

    Thank you so much for your feedback @AileneA 

     

    The problem I am facing is when I match transactions it automatically sets the category to Undeposited funds. Is there a way to update the category after matching transactions from the bank feed? 

    JasroV
    JasroV
    Level 8
    May 4, 2021

    I appreciate your prompt reply, Samantha.

     

    You'll be glad to know that you can update the category of your transactions after matching it from your bank feed. You can go to your account register and update the transaction from there. I'd be glad to guide you how.

     

    Before that, I recommend working with your accountant for additional guidance. This way, we can ensure your accounts are accurate after making these changes. If you're not affiliated with one, you can visit our ProAdvisor page and we'll help you find one from there.

     

    Once you're ready, you can proceed to these steps:

     

    1. Sign in to your QuickBooks Online (QBO) account.
    2. Go to the Banking or Transactions menu.
    3. Locate the appropriate account and select the View register link under the ACTION column.
    4. Look for the transaction that is manually added from your bank feed, click it and select Edit. 
    5. From the Category details section, change your preferred category under the CATEGORY column.
    6. Then select Save and close to save the changes.

     

    You can also see this article for more insights about the process: Categorize and match online bank transactions in QuickBooks Online.

     

    You might also want to check this link for guidance when you're ready to reconcile your account. This provides detailed steps in matching your bank and QuickBooks balance seamlessly: 

     

    I'll be around if you need further assistance matching your transactions. I'm more than happy to work with you again. Keep safe!

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