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When importing a bank feed it appears that the feed data is overwriting and changing the date on items already logged into Quickbooks. I want to be able to set a rule that if a transaction is matched it doesn't overwrite the date on the manually entered transaction. I can't see how to do this? I am using Desktop Pro 2017. When importing it would be nice to see the two transactions that are being matched up and changed to compare each view for errors. Which do happen and cause a lot of wasted time.
Hello Peterson J,
QuickBooks will use the dates of the transactions in your Bank Feeds since they are the actual dates as to when your funds were deposited or debited from your actual bank account. We're unable to create a rule for this. Also, the change will take effect when you match your transactions.
We're just around if you have other questions.
You might have your books set on "Cash" accounting. Change it to "Accrual" and it will use the date you paid the bill. This will change many other things as well, so make sure you understand accrual accounting, revenue recognition, etc. before switching from cash to accrual accounting.
This is the simple answer to why QuickBooks uses the date the transaction settled with the financial institution (bank or credit card company), which is the bank feed, rather a date you entered when creating a bill or expense and then matching to the bank feed.
If you have been using cash accounting, you cannot just simply switch as you wish. There is a process, it must be right for your business, requires adjusting entries, and is best done at the start of a new fiscal year. So check with your CPA.
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