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Level 2

Create a payment vs matching a payment from our connected bank account

Hello, We have our bank account connected directly to our QBO. We write some checks to vendors for payment but are not currently printing those check through QBO. I know that we should record the payment of the bill as soon as we write the check, but I'm wondering how that will work with our connected bank account. If I mark the bill as "paid", when the check gets deposited and comes out of our bank I can't match that transaction to the bill because it is no longer open. How is the best way to handle this? Should I just exclude the transaction from the banking tab or is there another way to do this?

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Best answer February 25, 2020

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Level 3

Create a payment vs matching a payment from our connected bank account

Hi GiuliettaM,

 

Maybe I can be of assistance?

 

To create the bill payment:

  1. Select + New Icon on the lefthand side of screen
  2. Select Expense or Check
  3. When you select the vendor name, the drawer will pop up on the righthand side showing the bill(s) for that vendor. (If it doesn't pop up, select the next to amount on upper right side). Add the bill(s) for which you are making payment.
  4. Complete the entries for the expense/check (e.g., payment date, payment account, reference number)
  5. Save and close

Matching in bank feed:

In the bank feed, you will notice a match for the Bill Payment rather than the Bill itself. Select green Match button.

 

Best regards!

 

View solution in original post

3 Comments
Highlighted
Level 3

Create a payment vs matching a payment from our connected bank account

Hi GiuliettaM,

 

Maybe I can be of assistance?

 

To create the bill payment:

  1. Select + New Icon on the lefthand side of screen
  2. Select Expense or Check
  3. When you select the vendor name, the drawer will pop up on the righthand side showing the bill(s) for that vendor. (If it doesn't pop up, select the next to amount on upper right side). Add the bill(s) for which you are making payment.
  4. Complete the entries for the expense/check (e.g., payment date, payment account, reference number)
  5. Save and close

Matching in bank feed:

In the bank feed, you will notice a match for the Bill Payment rather than the Bill itself. Select green Match button.

 

Best regards!

 

View solution in original post

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QuickBooks Team

Create a payment vs matching a payment from our connected bank account

Hi there, @GiuliettaM.

 

You'll want to delete the payment linked to the bill. This way, we can link the deposited payment to an open bill. Let me guide you how.


In your QuickBooks Online (QBO) account:

  1. Go to the Expenses menu.
  2. Click the Expenses tab.
  3. Locate and open the Bill Payment.
  4. Uncheck the payment link to the bill, then click Clear Payment to delete the unapplied payment. 2.PNG
  5. Click Save and close, then click Yes for confirmation.

Once done:

  1. Go to the Banking menu.
  2. Select the appropriate bank account.
  3. Find and open deposited payment from the For Review tab.
  4. Select the Recognized tab.
  5. Locate and click the deposited payment, and thick Find match3.PNG
  6. Then select the open bill to link the payment.
  7. Click Save.

I'd also recommend getting in touch with your accountant for guidance in making these changes. This way, we'll ensure the accuracy of your accounts after making this changes.

 

I'm also adding this article that can guide you on how to link a deposit to an invoice.

 

You can always get back to us if you have other concerns. Have a great day!

Highlighted
Level 2

Create a payment vs matching a payment from our connected bank account

Okay great, that will work for most cases, but how would it work if the check is written in one month and not cashed until the following month? Would undoing the payment and linking it to the bank transaction mess with our financial statements?

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