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mike-nicol-train
Level 1

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Before my business began earning any money I paid out of my personal account for certain setup costs, such as computer equipment and software. Then, when money started coming into the business, I repaid myself with a series of lump sums ... round figures with a final balance repayment at the end. I kept receipts for all the items I paid for personally and uploaded them into Quickbooks (which does a great job of scanning them and automatically detecting supplier, date, and total amount, so thank you for that). I also categorised the appropriate repayments from my bank account, in Quickbooks, as expenses. And everything adds up. The expenses come to the same amount as the receipts do, as you’d expect. However, individual items do not conveniently match up with a corresponding expense, because items were bought as and when required and have a variety of costs, whereas the expenses (the repayments to myself) were nice round lump sums. Let me give an example using just the first few items. I have receipts for £59.95, £2,748.99, £39.25, £329.99 and £550.96 that total £3,729.14. Now let's suppose that I repaid myself, and hence have expense items for, £1,000, £2,000 and £729.14 that again total £3,729.14. How can I review, and match, those receipts against those expenses? What I would ideally like is to be able to put a tick against those three expense items and then select the option to ‘group these line items into one big expense item’. That way I'd now have £3,729.14 as an expense item, and I could review each receipt and pair them with that one expense, ignoring the message that pops up to say the totals don't match. But there isn't an option to do that, so what can I do? And if I cannot do anything, is it okay to have several thousands of pounds of expenses simply marked as an expense by me, without supporting receipts linked to them?
Solved
Best answer November 02, 2021

Accepted Solutions
DileepaNirmal
Level 4

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Dear Mike,

 

After you added the receipts, you can review it and record as bills. Then you can match the all bills to the repayments which appear in the banking window. when you matching the bills to a banking transaction you can adjust the amount according to your repayment amount.
Just suppose that your banking transaction amount is 200GBP. But the bill amounts are 145GBP and 80GBP. here we can match 145GBP bill and 55GBP (as partial payment of 80GBP) to the banking transaction. partial payment of 25GBP can match to an another banking transaction. 

Please find the attachment; 

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5 REPLIES 5
DileepaNirmal
Level 4

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Dear Mike,

 

After you added the receipts, you can review it and record as bills. Then you can match the all bills to the repayments which appear in the banking window. when you matching the bills to a banking transaction you can adjust the amount according to your repayment amount.
Just suppose that your banking transaction amount is 200GBP. But the bill amounts are 145GBP and 80GBP. here we can match 145GBP bill and 55GBP (as partial payment of 80GBP) to the banking transaction. partial payment of 25GBP can match to an another banking transaction. 

Please find the attachment; 

mike-nicol-train
Level 1

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

That sounded really easy, and thank you for your excellent reply and screen shot. However, I cannot see how to make a receipt a bill. I understand I can review it and classify it as a Sundry Expense for example, but I'm not clear how I get my receipt to show up as a bill, as per your screen shot. Can you please take me through step by step? Sorry to be making extra work for you.

DileepaNirmal
Level 4

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Dear Mike,

When adding bills Just click on the "+New" Button and go to the bill and enter the details of the bill and click save after uploading the receipt. or you can review your bills by following this path also.

Transactions > Receipts

After adding those bills you can go to the banking window and just click on the transaction which you want and then click on the "find match". then you can see added bills there.

 

Hope this helps.

Please check the my screenshots as well

mike-nicol-train
Level 1

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Ah, I see the problem now. Your screenshot 47 helped with that enormously. See my attached screenshot of the same page. I don't have the option to switch between a document type of Receipt or Bill. That's where my confusion came from, I could see no way to review the receipt and make it a bill, as you said to do in your original reply. I shall try deleting the receipts and adding them again as bills instead, as I do not seem to be able to change them once they are uploaded. I'll let you know how that goes later on.

mike-nicol-train
Level 1

How do I match multiple receipts of varying amounts to expense payments that are in nice round sums and do not match up?

Thanks again for your excellent help with this. It seems that I cannot apply your solution as I do not have the Bills feature on my plan. I could upgrade to the Essentials package to get this feature but I don't actually need it. I mean, I don't need to process bills from suppliers as I don't buy any supplies. I only need it as a workaround for this particular issue. I do like your solution, and it would have worked if I had that feature on my plan, but it still feels like QB is missing something here. It seems such a basic thing, to pay for items using a credit card or personal account and then reimburse from the company account in one lump sum. Being able to then match multiple receipts to one or more lump sum expenses is a basic requirement, but I can find no way of doing that.

Ah well, thanks again my friend, for all your help and support.

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