Can I match a transaction to an invoice which is 90+ days overdue
You can definitely do that, daniel28.
By default, QBO will automatically look and consider it a match if both transactions date is within the 90 days period. However, you can stretch out the date when manually looking for a match. Here's how:
Go back to the Banking tab.
Click the downloaded invoice payment that you'll be matching to an old transaction.
Click the Find match radio button.
Change the From date to include the old invoice's date.
Look for the invoice and select the right one.
Let me also share a couple of banking-related articles that might be able to help you in the future: