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themadstans
January 21, 2023
Solved

Transfer problem

  • January 21, 2023
  • 2 replies
  • 1 view

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?

    Best answer by DebSheenD

    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.

    2 replies

    D
    DebSheenDAnswer
    Level 5
    January 22, 2023

    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
      SME Bookkeeper
      January 22, 2023

      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.

        S
        SRK2024
        July 11, 2024

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

        P
        PearlCityMedia
        October 6, 2024

        Thank you for your feedback about QuickBooks Online (QBO), @PearCityMedia. Allow me to share some information about your transactions.

         

        Transactions from Bank A cannot directly match with bank B because they are recorded oppositely (outgoing vs. incoming). However, if those transactions are from third-party payment processors associated with a bank, the feature to match the received payment from PayPal to the Bank is currently unavailable at this time.

         

        Also, when you transfer your transaction from Bank A to Bank B, and both banks are connected to QBO, you can categorize your Bank A transactions by choosing Transfer and selecting Bank B as the destination account.

         

        Afterward, those transactions were downloaded from Bank B. You can exclude them to avoid duplication.

         

        For future reference, read through this article: Reconcile an account in QuickBooks Online. This helps you balance your books in QBO to make sure they match with your actual bank and credit card statements.

         

        Please don't hesitate to post any follow-up questions or new inquiries about your transactions in QBO. The entire QuickBooks Team is here to help and ensure a smooth online banking experience in the program.


        Again - that work around completely misses the point of accounting software and also misses the actual problem going on.

         

        Right now, as I'm working on it, sometimes it pairs the transactions automatically, sometimes you can hit match and go find it.  In neither of these situations do the transactions need to be excluded. So, it absolutely can be matched; however, the system is just not consistent in its ability to handle that type of transaction.  How am I supposed to develop a system and/or train staff if the software doesn't handle it the same way each time?

         

        Obviously, the best case scenario is not to have to exclude any transactions from an imported transaction feed.  This is an issue around how the query hits the database to find matches and absolutely should be fixed.

         

        Attached is a screenshot showing the system handling identical transactions differently.  That's the unacceptable part, especially when you click on match it can be found.

         

         

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