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Thanks for sharing the details here, @accounts-progres,
When you match transactions in QuickBooks, both entries must be the same. In your case, it looks like you are trying to match an expense (outgoing funds) to your income(incoming funds). Since this is not allowed, you will need to do the match separately.
If you have a credit card payment in your bank statement, create an expense in QuickBooks to match it. For further information on how to do this, see this article: Record your payments to credit cards
The next thing you need to do is match the customer payment from the bank to the recorded payment in QuickBooks.
Since the refund is greater than sales, this will require a few steps to do. But don't worry, I'll be right here to guide you through that.
Step 1: Create the sales transaction and receive the payment to the Undeposited Funds account.
Step 2: Create the Refund Receipt showing the original refund amount of $250.
Step 3: Create a Journal Entry to move the funds from Undeposited Funds account to Bank account.
Step 4: Group the Journal Entry with the payment and refund to create a $0 deposit.
Once done, go back to Banking page. You should be able to see Match option this time. If not, click that transaction row for refund receipt to find a match.
See this link to learn more about handling bank transactions in QuickBooks Online: Categorise and match online bank transactions in QuickBooks Online
Let me know if you have any further questions about the process or need any other help. I'll be right here to assist you with your Banking concerns and guide you with every QuickBooks related tasks. Have a nice day!
Hi accounts-progres,
Thanks for joining us here on the Community. 👋
Bills and invoices are two separate transactions in QuickBooks, a bill being for a supplier and an invoice for a customer - can I check what exact transactions you're trying to match, are you recording a contra payment?
Thanks!
Hi GeorgiaC,
Thanks for helping me out! I have a card payment from our card machine that is showing as £127 going out but it relates to a payment in of £123 and a payment out (refund) of £250 so I just need to match it on the transactions list to reconcile it. I don't know enough about Quickbooks to know whether you can journal it or how to get round it but I have the Bill and Invoice showing as outstanding as I can't match the 2 to the bank transaction.
Hope that makes sense?!?
Thank you.
Thanks for sharing the details here, @accounts-progres,
When you match transactions in QuickBooks, both entries must be the same. In your case, it looks like you are trying to match an expense (outgoing funds) to your income(incoming funds). Since this is not allowed, you will need to do the match separately.
If you have a credit card payment in your bank statement, create an expense in QuickBooks to match it. For further information on how to do this, see this article: Record your payments to credit cards
The next thing you need to do is match the customer payment from the bank to the recorded payment in QuickBooks.
Since the refund is greater than sales, this will require a few steps to do. But don't worry, I'll be right here to guide you through that.
Step 1: Create the sales transaction and receive the payment to the Undeposited Funds account.
Step 2: Create the Refund Receipt showing the original refund amount of $250.
Step 3: Create a Journal Entry to move the funds from Undeposited Funds account to Bank account.
Step 4: Group the Journal Entry with the payment and refund to create a $0 deposit.
Once done, go back to Banking page. You should be able to see Match option this time. If not, click that transaction row for refund receipt to find a match.
See this link to learn more about handling bank transactions in QuickBooks Online: Categorise and match online bank transactions in QuickBooks Online
Let me know if you have any further questions about the process or need any other help. I'll be right here to assist you with your Banking concerns and guide you with every QuickBooks related tasks. Have a nice day!
I cannot thank you enough - It worked perfectly - thank you SO much for your help (apologies for the delay in responding, I had to get my head in gear to tackle it!)
Thank you.
Thanks for getting back to us here accounts-progres - very happy to hear this worked for you! 🤗