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themadstans
Level 1

Transfer problem

Hi, can anyone help please. I am new to Quickbooks and am having a problem with Transfers. 

 

When I pay by PayPal for postage I always use my bank account to pay rather than my PayPal balance, so the transaction appears both in the banking transactions and the PayPal transactions (I have both PayPal and my bank linked to Quickbooks), so I believe I have to do a transfer of the payment from the bank to the PayPal bank. I can do the transfer fine and the transfer goes in the the PayPal Bank fine, but when I find the corresponding PayPal transaction it is not offering me any possible matches even though I know there is an exact one. Can anyone help?

Solved
Best answer January 22, 2023

Accepted Solutions
DebSheenD
QuickBooks Team

Transfer problem

Hello there, @themadstans.

 

Welcome to the Community. Allow me to chime in and help you match transactions in QuickBooks Online (QBO).

 

The downloaded transactions can't be matched with the downloaded ones. We can only match the transactions with the manually entered in QBO. You can only choose to match or exclude the transaction.

 

Here's how: 

 

  1. Go to Bookkeeping, select Transactions, then click Bank transactions.
  2. Choose the For Review tab.
  3. Tick the checkbox of the transactions to exclude.
  4. Hit Exclude.
     

Once done, we can now match the downloaded transactions to manually added entries.

Here's how:

  1. Go to the Banking menu.
  2. Hit For Review tab and choose a transaction.
  3. Click on the transaction and select Find match.
  4. Scroll down to see Resolve.
  5. Tap on Resolve and Save.

 

I've got here a reference that you can bookmark to guide you in excluding bank transactions: Exclude a bank transaction from your expenses in QuickBooks Online.


Moreover, refer to this article if you encounter any problems when reconciling your account: Reconcile an account in QuickBooks Online
 

Drop me a reply if you have any follow-up questions about matching transactions. I'm always happy to help.

View solution in original post

4 REPLIES 4
DebSheenD
QuickBooks Team

Transfer problem

Hello there, @themadstans.

 

Welcome to the Community. Allow me to chime in and help you match transactions in QuickBooks Online (QBO).

 

The downloaded transactions can't be matched with the downloaded ones. We can only match the transactions with the manually entered in QBO. You can only choose to match or exclude the transaction.

 

Here's how: 

 

  1. Go to Bookkeeping, select Transactions, then click Bank transactions.
  2. Choose the For Review tab.
  3. Tick the checkbox of the transactions to exclude.
  4. Hit Exclude.
     

Once done, we can now match the downloaded transactions to manually added entries.

Here's how:

  1. Go to the Banking menu.
  2. Hit For Review tab and choose a transaction.
  3. Click on the transaction and select Find match.
  4. Scroll down to see Resolve.
  5. Tap on Resolve and Save.

 

I've got here a reference that you can bookmark to guide you in excluding bank transactions: Exclude a bank transaction from your expenses in QuickBooks Online.


Moreover, refer to this article if you encounter any problems when reconciling your account: Reconcile an account in QuickBooks Online
 

Drop me a reply if you have any follow-up questions about matching transactions. I'm always happy to help.

SME Bookkeeper
Level 4

Transfer problem

Hello @themadstans,

 

Check the transaction in the Bank feed & PayPal feed.
Somehow you categorize the PayPal statement line of this transfer.
Undo that & match that with the Bank statement line.

For further assistance, check my bio. I am a professional bookkeeper.

 

Thanks.

SRK2024
Level 2

Transfer problem

Why would you exclude a transaction? Yiu need to show the movement of funds from current bank account to PayPal surely?

JoanaC
QuickBooks Team

Transfer problem

Let me share more information on why we need to exclude a transaction, @SRK2024.

 

When you transfer a payment from PayPal to the bank, the transactions will appear in both accounts since both PayPal and the bank are connected to QuickBooks Online. However, since the transfer is downloaded from the bank, they can't be matched to each other.

 

As a workaround, if you don't want to exclude the transaction and record the movement of funds. We can categorize the PayPal transaction as an expense, and the transaction in the bank can be categorized as a transfer to PayPal.

 

Follow these steps:

 

  1. Go to the Bank Transactions.
  2. Find and click the transaction.
  3. Select Record as transfer.
  4. Provide the necessary information.
  5. Hit Add.

 

Moreover, I'm sharing this article to help you reconcile your transactions: Reconcile an account in QuickBooks Online.

 

Let me know if you still have questions about your bank transactions. Have a great day, and take care always.

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