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Match and categorize bank transactions in QuickBooks Online

Learn how to review bank and credit card transactions after you download them into QuickBooks Online.

Once you connect your bank and credit card accounts, QuickBooks automatically downloads your recent transactions. Then it shows you if they match any records you’ve already entered in QuickBooks. And if it can’t find a match, QuickBooks will start a new record for you.

All you have to do is approve the match or select Add to create a new record. Here’s how to get started.

Step 1: Download your bank and credit card transactions

QuickBooks automatically downloads the latest available transactions every night around 10 PM PT. For most banks, transactions are usually available for QuickBooks to download the day after they post to your bank's website. Some may take a little longer depending on your bank.

You can also do a manual update to get the latest available transactions:

  1. Go to the Banking menu or Transactions menu.
  2. Select Update. This updates all of your bank and credit card accounts. If you see a message about additional authentication, follow the onscreen instructions. Not all banks require this, but some do for added peace of mind.

Here's what to do if you have trouble downloading your transactions.

Step 2: Review your downloaded bank transactions

  1. Go to the Banking menu or Transactions menu.
  2. Select the blue tile for the account you want to review.
  3. Select the For Review tab to start your review.

This image shows the tiles at the top of the Banking menu that you can use to switch between your different connected accounts.

QuickBooks sends downloaded bank transactions to the For Review tab. This is sometimes called your “bank feed.”

Review each transaction one-by-one. For each downloaded transaction, you’ll have the option to match, add, or view multiple matches.

Follow the steps in the section when you see these options:

Match means QuickBooks matched the downloaded transaction with one you already entered. This links the two so there aren't any duplicates. All you have to do is make sure the match is correct.

  1. Select the transaction to expand the view.  This image shows an expanded view of a matching transaction.
  2. Review the Records found. These transactions are ones you already entered in QuickBooks.
  3. Select the link next to each record to get more details.
  4. Review the Deposit to field on the forms. Your transaction in QuickBooks is already in the account listed.
  5. When you’re done, select Match.

QuickBooks now knows the record from your bank is the same one you already entered and won’t create a duplicate. Your work is done.

Add means QuickBooks didn’t find a matching transaction. Instead of matching, QuickBooks will start a brand new transaction for you using the info from your bank.

  1. Select the transaction to expand the view. This shows the expanded view for a transaction QuickBooks wants to add, because it did not find a match for an entry you already created.
  2. Review the recommended account category. This is the account QuickBooks wants to categorize the transaction into. For example, you may see an expense for gas for your business vehicle. QuickBooks may suggest categorizing it under Travel Expenses. You can always change the category and put it in a different account depending on how you track this info.
  3. Make changes to the payee and category before you select Add.
  4. When everything looks good, select Add to record the transaction.
Note: QuickBooks sometimes recommends categorizing transactions into the Uncategorized Income or Uncategorized Expense accounts. These are temporary accounts. If you can, put transactions directly into a specific income or expense account. If you need to, create a new account in your chart of accounts.

View means QuickBooks found more than one potential match. All you have to do is pick the right one.

  1. Select View from the Action column.
  2. Review the “Records found” in QuickBooks.
  3. Select the links next to each record to get more details.
  4. Compare the potential matches.
  5. Select the correct match and then select Match.

Step 3: Review transactions after you’ve matched or added them

After you match or add, downloaded transactions are recorded to your accounts in QuickBooks. The record reviewed from your bank goes to the Reviewed tab.

Do a quick review after you’ve matched or added a few transactions, just in case you need to make changes:

  1. Go to the Banking menu or Transactions menu.
  2. Select the blue tile for the account you want to review.
  3. Go to the Reviewed tab.
  4. Select the link in the Added or Matched column to review the transaction. In particular, review the "Deposit to" field. This is the account QuickBooks categorized the transaction into.This image shows the Reviewed tab in the bank menu.
  5. Add any additional info you need.

If you need to re-categorize a transaction and move it to a different account, select Undo. This sends the transaction back to the For Review tab.

Make your changes before you do your monthly reconciliations.

You can split transactions, such as a large business travel expense, between multiple accounts for better tracking.

  1. Start in the For Review tab.
  2. Select the transaction to expand the view.
  3. If selection is on Match, change it to Add.
  4. Select Split next to the Add button. This opens the Split Transaction window.
  5. Select the Categories (accounts) you want to split the transaction into.
  6. Enter an amount for each split.
  7. Add the Payee and Customer for each split.
  8. Select Save and add.

You can exclude personal or duplicate transactions to keep your accounts accurate.

  1. Go to the For Review tab.
  2. Check the box next to each transaction you want to exclude.
  3. Select the Batch action drop-down menu, and then select Exclude selected.

Excluded transactions move to the Excluded tab. They won’t be added to QuickBooks or downloaded again.

Troubleshoot bank transactions

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