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:

• Fix Issues at the End of Reconciliation in QuickBooks Online
• Fix Issues For the Accounts You've Reconciled in the Past in QuickBooks Online

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.

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

Hello, I am also trying to get my Pot in Monzo to connect to Quickbooks but am struggling to do so. I have tried to create a subaccount and connect it to bank feed but that is not working. If theres any assistance you can give that would be greatly appreciated.

Let’s ensure how your bank send the downloaded transactions to QuickBooks Online, Bruce. This will help ensure that all your financial data is accurately organized.

Before we proceed, could you please let me know if you encountered any errors while connecting your bank? Any additional details or screenshots would be greatly appreciated, as they would help us provide a more targeted solution.
 

In the meantime, I recommend checking with your bank to see if there are any ongoing maintenance activities or updates that could affect your connectivity with QuickBooks. Additionally, try logging into your account using a different browser to determine if the issue might be related to the browser you are currently using.
 

Since you mentioned that you're attempting to connect the Pot as a sub-account, please ensure that bank transactions are directed to that account. When connecting your bank to QuickBooks, it’s essential to understand how your bank sends downloaded transactions. If transactions download to one account, you should only connect the parent account and not the sub-account to the bank feeds.

Additionally, you may refer to this article to know more about setting-up a subaccount in QBO: About bank or credit card subaccount setup.
 

Moreover, you can refer to this article to ensure that transactions are allocated to the appropriate accounts, it is essential for generating accurate financial statements: Categorize online bank transactions in QuickBooks.
 

If you have any additional questions or concerns about managing bank transactions in QuickBooks Online, please feel free to click reply with your comments. Have a great day!