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Visit this post for a list of recent banking issues in QuickBooks Online.
Level 1

Monzo Payments from pots, unable to reconcile the bank

I use Monzo and payments from pots using virtual cards.The payments from pots, don't technically come out of my main account (from the pot the virtual card is associated with), but they are showing that way in Quickbooks.


I have my main account set up with an automatic feed from Monzo. Then for the pots I have a 'Monzo Pots' bank account which I transfer money to and from for pot transfers.


I am unable to fully reconcile my bank because of this, as it states that it is out by the pot payment amount, in both my main account and the pot account in QuickBooks.

I can untick the payments that were made from pots and reconcile the account. However, they will be left in the reconciling page for the next month and so on, until there is a long list, which is not ideal.


If anyone has any ideas on how to rectify this, I would appreciate it.

The only one I have come up with is creating another transfer manually between the accounts for the difference.

QuickBooks Team

Monzo Payments from pots, unable to reconcile the bank

I've got some tips to help you handle the Monzo payments so you can reconcile your bank account in QuickBooks, Ellie.


In QuickBooks Online (QBO), the most common way to set up a bank or credit card account with multiple associated cards is to create a parent account and then set up each card underneath it as a subaccount. Before connecting to online banking, you need to know how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the subaccounts and not the parent account.


Also, whenever you have to reconcile, you only need to reconcile the parent account because all transactions in the subaccounts roll up into it. To give you more information about how you can set up your bank and credit card account, check out this article for more details: About Bank or Credit Card Subaccount SetUp.


Apart from this, learn how you can fix reconciliation issues in QBO. Here are some articles for more details:


Additionally, QuickBooks offers several reports that cater to your business needs. You'll only have to customize them to ensure you'll get the right data you need: Customise Reports In QuickBooks Online.


Let me know if you have any questions about reconciliation. I'm always right here to help.

Level 1

Monzo Payments from pots, unable to reconcile the bank

I have made the Monzo Pots a sub-account and it has worked :) Thank you for your help!

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