Auto matching invoices?

Torquil · ‎May 21, 2022

My question is about matching bank payments coming into QBO with invoices. In order for QBO to auto match the transaction it seems to need the Customer name to be identical to the name coming from the Bank detail. i.e John Smith has to be John Smith. If it's slightly different (e.g. Mr. J Smith) it gets confused and just finds me a load of similarly priced invoices as a choice to match it to.

Is there any way of getting QBO to match them from the Invoice number which is also used as the Reference coming in with the BACS bank payment. These should match identically for every transaction but QBO seems to ignore these and just give me 5-10 invoices to choose from when it should be obvious which one to choose. I end up having to go through every transaction and matching them when it should be easy to automate.

Hopefully I'm missing something obvious and this isn't just a limitation of the app. Is it possible to use a Rule to match Invoice number to Bank Detail Reference?

Thanks

JessT · ‎May 21, 2022

Hi Torquil,

The number one reference for automatic matching is the amount, the movement of money, and the bank details.

I also like the idea of using invoice numbers as an additional basis. This will indeed help to filter out matching entries, especially when there are multiple transactions with the same amounts. However, such an option is not available at this time. You may want to consider creating bank rules to refine the process of finding a match.

On the other hand, I want to add these articles for your reference for your next steps:

Feel free to send some comments if you have other concerns about your transactions. I'm just around to continue to help.

View solution in original post

JessT · ‎May 21, 2022

Hi Torquil,

The number one reference for automatic matching is the amount, the movement of money, and the bank details.

I also like the idea of using invoice numbers as an additional basis. This will indeed help to filter out matching entries, especially when there are multiple transactions with the same amounts. However, such an option is not available at this time. You may want to consider creating bank rules to refine the process of finding a match.

On the other hand, I want to add these articles for your reference for your next steps:

Feel free to send some comments if you have other concerns about your transactions. I'm just around to continue to help.

Auntie T

Hi

I am having a similar problem. Multiple invoices for the same amount, due at more or less the same time.

Whe a payment comes in and viewed in bank transactions, the payee is different from the name of the account from which the payment came. The system then offers me a list of invoices outstanding for the same amount as the payment received.

How does the system not just give the one name?? It is really frustrating to have to ask the business owner which customer actually paid.

Its not really satisfactory. Customers do not always include a reference to the invoice number in the payment.

Can you clever people fix this flaw?

JamaicaA

Showing one name to match the transaction is only possible if it has the same number, amount, date, or payee as the downloaded entry, Auntie T. Since the name from the account and payment are different, we can create a bank rule where you can assign a payee. Let me share the process below and help you request functionality from our developers.

Given the multiple outstanding invoices with the corresponding amounts, the system automatically detects them as possible matches. That's why they show suggested transactions that you can pair. However, generating a specific customer's name and allowing the system to recognise distinct ones is unavailable.

Additionally, I acknowledge the convenience of personalising or specifying unique identifiers for both transactions, including invoice numbers or specific references in their payments for seamless matching. Thus, I recommend submitting a request to our product developers. They may consider reinstating this option in future updates.

Follow the steps below:

Go to the Gear icon at the top.
Under the Profile column, select Feedback.
Share your request, then click Next.

Keep an eye on your suggestions on this website and visit our blog for recent developments.

As a workaround, consider setting up bank rules where you can filter out transactions accordingly. You can assign a Payee and enter the other name in the Description. I also recommend adding more conditions so the system can generate a more accurate suggestion to auto-match them seamlessly.

Here's how:

On the left panel, select Transactions.
Go to the Rules tab, and click New Rule or Create rule.
In the Apply this to transactions that are fields, choose Money in and All bank accounts.
Add the conditions under the and include the following section.
Assign necessary information.
Enable the Auto-add, then Save.

After that, please refer to these materials to learn more about reviewing categories and matches of your entries:

Once you've verified the bank statements coordinate with the ones entered into QuickBooks, check out this guide to confirm the accounts are consistent and accurate: Reconcile an account in QuickBooks Online.

Your insights can contribute to the program's advancement. I'll lend a hand for further concerns with handling invoice settlements. Ensuring a proper recordkeeping of your business finances is our pleasure.

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Auto matching invoices?