Hello there, doug.rixmann,
Great question. Being able to easily add or match transactions can be a real time saver when you're using the banking feeds in QuickBooks Online. I'll happily go over this with you.
QuickBooks Online allows you to easily connect bank feeds, even ones that aren't in Canadian currency, such as your USD bank feed. The full range of bank feed features—adding, matching, categorizing, and more—are available for CAD currency feeds. For feeds in other currencies, the option to match transactions is not one of the options. You can still add transactions from the USD bank feed, but if you've already got the transaction in QuickBooks, I recommend excluding the transaction to avoid doubling your numbers.
You can learn more about banking feeds here: Categorize and match online bank transactions in QuickBooks Online
Feel free to leave us feedback about how this feature works. We love learning how we can change and enhance what QuickBooks Online can do for business owners and this is the perfect way to share. Learn how to leave feedback here: How do I submit feedback?
I'll be around if you'd like clarification about any of that.
This seems VERY incomplete if QBO is touted as a multi-currency accounting system. From reading, this seems to be a long standing bug (not feature deficit). Are there any plans to fix this bug?
I have this similar issue with my Canadian client, QBO match action will not show if there is no possible matched transaction particularly for multiple payments of a USD bank account (Home currency is CAD). The positive side is, QBO able to match exact/identical amount of a certain transaction.
Thanks for chiming in on this thread about matching transactions from a USD bank feed in QuickBooks Onlione. I have an update to what I said in my original response about not being able to match transactions in foreign currency bank feeds, which may shed some light on your situation as well.
The option to Match appears on a transaction in a foreign currency feed when the amount is exactly the same to what's in QuickBooks and the transaction in QuickBooks has no payments against it already. Essentially, the foreign currency feed looks for an open transaction without any payments against it, and then the amounts have to match as well. So if I have a situation where I have an invoice in QuickBooks Online that already has a partial payment against it, the feed won't recognize the balance as matching to that. Likewise, the feed won't recognize if you have an open invoice in QuickBooks and the amount in the feed is only a partial amount.
I know this creates a little extra work when it comes to handling these transactions, such as excluding transactions and manually recording payments, and in these kinds of situations, submitting feedback in valuable. You can use the link I gave in my original response to share your thoughts.
Give me a shout if there's anything else I can do to clarify the situation. :)
I've also had this issue (home currency is GBP, working with USD and EUR accounts on TransferWise). I had a bill that TransferWise paid partly out of the GBP account and partly out of the USD account (as the USD account didn't have enough funds for the full transaction - that's how TransferWise works). I set up two Bill Payments that corresponded to the two amounts but was unable to match the USD one - the Find Match option just isn't visible. I discussed this with support on the live chat and it seems this is how it is designed to work - but it's definitely not clear to me why that is as that's not how my GBP accounts work.
My only solution to this seemed to be to exclude the bank transaction which feels a bit messy.
How is this still an unresolved issue? We need to be able to apply transactions in FX bank accounts to open bills/invoices without needing to either record each transaction separately or use a clearing account.
There is an issue with QBO algorithm for showing unmatched transactions when purchase was made in foreign currency.
My US orders can not be matched. Here is the funny part - if I try to match Mrs. Arber's order for $800 I get a list of orders whose value is much lower. Ah, wait, Mr. Voiture's order is showing at $500! Super, I need to match that payment, however when I go to match that order it does not show up on the list generated. Guess what, Mrs. Arber's order is present on the new list (for Mr. Voiture). Changing dates and other criteria does not change the results.
The orders are there. The orders are unmatched. The code for QBO to display available unmatched orders is poorly written. Intuit , please look at the code that selects unmatched orders or provide more options for selecting what shows up in the list because it clearly is not working.
# match sales transactions not finding payment received
# multiple currencies not matching sales
# QBO matching issue for Shopify Sales in foreign currency
Hi there. Thanks for chiming in on this thread. I want to make sure you get the support you need with this. In order to get to the bottom of this ASAP, I recommend contacting our phone support team using the details below:
One of our representatives will be happy to take a look at your account and help you get back on track ASAP. Feel free to ask other questions. I'm here to help.