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kvngrffn
Level 2

Clearing Online Bank Transactions - Imported as Totals, Cleared as Individual Items - No Match

The problem(s):

We have transaction totals with no details showing on the QBO ledger for a bank account.  

We have detail level transactions imported through the bank connection.

We can not make them match/clear properly.

 

The situation:

We are a staffing/recruiting company. Our operational software processes all payroll and invoicing for the company but has no G/L or A/P capabilities.  So we use QBO for all other accounting tasks. We import a feed each week into QBO for maintaining our books using the SaasAnt importer.  This import pulls in data at a group level and individual items are not available for import.  A sample imported Journal Entry is:

Journal DateMemoAmount (Credit or Debit)Account
8/23/2020--Net Check Amount-9273.901007-00
8/23/2020Federal Income Tax--Withheld Taxes Payable-549.962049-00
8/23/2020NC: NC WH--Withheld Taxes Payable-333.002061-00
8/23/2020FICA EE--Withheld Taxes Payable-723.722150-00
8/23/2020MED EE--Withheld Taxes Payable-169.292151-00
8/23/2020Child Support--Withheld Adjustments Payable-342.552200-00
8/23/2020Reimbursement--Withheld Adjustments Payable88.372201-00
8/23/2020ESC Medical Emp--Withheld Adjustments Payable-99.902201-00
8/23/2020ESC Dental Emp--Withheld Adjustments Payable-27.002201-00
8/23/2020ESC Life Emp--Withheld Adjustments Payable-1.802201-00
8/23/2020ESC Standard Employee--Withheld Adjustments Payable-16.802201-00
8/23/2020ESC MEC PLAN--Withheld Adjustments Payable-174.572201-00
8/23/2020ESC Dental EMP+Child(ren)--Withheld Adjustments Payable-14.582201-00
8/23/2020ESC Life EMP+Child(ren)--Withheld Adjustments Payable-0.902201-00
8/23/2020ESC Medical EMP+Child(ren--Withheld Adjustments Payable-33.172201-00
8/23/2020Clerical - Temp to Hire--Wages Expense757.945510-10
8/23/2020Light Industrial - Payrolling--Wages Expense640.445510-40
8/23/2020Light Industrial - Temp to Hire--Wages Expense6144.905510-40
8/23/2020Light Industrial - Temporary--Wages Expense3367.745510-40
8/23/2020TEMP--Wages Expense761.755510-40

 

So we only have total net wages written to the G/L Account for the paychecks.  However, the paychecks are clearing the bank individually and there is no matching transaction to correlate.

 

So the bank is generating transactions like:

NameCk.#Net CheckCk.DateACCT
Employee40373$596.0108/28/201007-00
Employee40374$465.8408/28/201007-00
Employee40375$499.4908/28/201007-00
Employee40376$592.5708/28/201007-00
Employee40377$480.1208/28/201007-00
Employee40378$253.8708/28/201007-00
Employee40379$448.7008/28/201007-00
Employee40380$554.0908/28/201007-00
Employee40381$427.3808/28/201007-00
Employee40382$45.7108/28/201007-00
Employee40383$369.1408/28/201007-00
Employee40384$81.0408/28/201007-00
Employee40385$481.9208/28/201007-00
Employee40386$549.0908/28/201007-00
Employee40387$59.2208/28/201007-00
Employee40388$695.4208/28/201007-00
Employee40389$52.9908/28/201007-00
Employee40390$982.7008/28/201007-00
Employee40391$765.3608/28/201007-00
Employee40392$576.1208/28/201007-00
Employee40393$40.5208/28/201007-00
Employee40394$256.6008/28/201007-00

 

But in order to clear the checks I have to associate the entry with a Category/Account. But the charges for these checks have already been allocated through the Journal Entry import. So this would seem to create a duplicate charge.

 

I have tried to import a journal entry that offsets the net wages amount with the check detail, as a method for creating entries that QBO could match the bank transactions against. But, the system did not recognize those transactions as a potential match for the bank line generated line items.

 

So, how do I clear the checks without creating new(duplicate) expenses?

 

Thank you for any help you can give

Solved
Best answer September 09, 2020

Best Answers
Tori B
QuickBooks Team

Clearing Online Bank Transactions - Imported as Totals, Cleared as Individual Items - No Match

Hey there, kvngrffn.

 

Thanks for your detailed post. This helps to sort things out. Let's get back to business. 

 

From reading over your post here, it seems that the journal entry accounts for all the bank transactions. If this is the case, you'll need to do the manual find match option and find the journal entry with each transaction to match. 

 

Please note: It is important to remember that you can match multiple bank transactions to one transaction created in QBO, but you can't match one bank transaction to numerous transactions in QBO.

 

I recommend checking if the journal entry is already reconciled. Bank transactions can't match with reconciled transactions. You can also exclude the bank transactions as an option since the journal entry is already accounting for the transaction. For further details, check out the links below. 

 

Please let me know if you have additional questions or concerns. You can reach out to the Community any time. Take care!

View solution in original post

1 Comment
Tori B
QuickBooks Team

Clearing Online Bank Transactions - Imported as Totals, Cleared as Individual Items - No Match

Hey there, kvngrffn.

 

Thanks for your detailed post. This helps to sort things out. Let's get back to business. 

 

From reading over your post here, it seems that the journal entry accounts for all the bank transactions. If this is the case, you'll need to do the manual find match option and find the journal entry with each transaction to match. 

 

Please note: It is important to remember that you can match multiple bank transactions to one transaction created in QBO, but you can't match one bank transaction to numerous transactions in QBO.

 

I recommend checking if the journal entry is already reconciled. Bank transactions can't match with reconciled transactions. You can also exclude the bank transactions as an option since the journal entry is already accounting for the transaction. For further details, check out the links below. 

 

Please let me know if you have additional questions or concerns. You can reach out to the Community any time. Take care!

View solution in original post

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