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Add and match Bank Feed transactions in QuickBooks Desktop

SOLVEDby QuickBooks7Updated 2 weeks ago

This article is part of a series that covers Bank Feeds in QuickBooks for Windows.

Learn how to create rules to categorize transactions to help QuickBooks match your transactions.

Learn how to add and match transactions you downloaded into QuickBooks.



Add and match bank feeds

After you download your electronic bank statement, you need to match the transactions to the ones in QuickBooks. That way, you can tell what transactions your financial institution has processed and which ones haven’t cleared the bank yet. Here’s how.

Step 1: Get downloaded transactions

  1. Go to the Banking menu.
  2. Select Bank Feeds and then Bank Feeds Centre.
  3. Open the Match Transactions window and from the Financial Institution dropdown, make sure the correct bank account is showing.
    1. Select Review Statement.
    2. Download and view the electronic statement.
    3. From the Match Transactions window, make sure the Show QuickBooks Transactions checkbox is selected.
  4. When QuickBooks finishes matching your transactions, you’ll see the results. Select OK to close the window.
  5. Review the status that QuickBooks assigned to each statement and decide what to do.

Step 2: Match downloaded transactions

The transaction in the electronic statement matches the one you’ve entered in QuickBooks.

  1. If you agree with the match, there’s nothing you need to do.
  2. If you don’t agree with the match, unmatch the transactions.

Unmatched transactions

The transaction in the electronic statement doesn’t match any transaction in the account for QuickBooks. A few reasons this can happen:

  1. The transaction hasn’t been entered in QuickBooks yet. If this is the case, you’ll need to add the transaction to QuickBooks.
  2. The transaction has been entered in QuickBooks, but it has a typo or was entered into the wrong account.
    • If this happens, correct the transaction in QuickBooks so it matches the one in the electronic statement.
    • If they don’t match because of the payee, create an alias for the name in the electronic statement to a name in QuickBooks.
    • You can also manually match the transaction.
  3. The financial institution made a mistake and the transaction in the statement is wrong.

When all the transactions in the electronic statement have been matched or added to QuickBooks, the statement is deleted from the Items Received section of the Bank Feeds Centre.

Manually match transactions in electronic statements to ones in QuickBooks

Sometimes QuickBooks may not match a transaction in an electronic statement with the transaction in QuickBooks. If this happens, you can manually match the two. Here’s how.

  1. Go to the Banking menu.
  2. Select Bank Feeds and then Bank Feeds Centre.
  3. Open the Match Transactions window and from the Financial Institution dropdown, make sure the correct bank account is showing.
    1. Select Review Statement.
    2. Download and view the electronic statement.
    3. In the Match Transactions window, make sure the Show QuickBooks Transactions checkbox is selected.
  4. Select the transaction in the statement that you need to match to a transaction in the QuickBooks Transactions.
  5. Select the transaction in the QuickBooks Transactions to match to. Make sure the amounts match.
  6. Select Match.

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