Deposit and Journal Entry matching

Hello there, @Jessica. 

Thanks for joining the Community. I'd be happy to lend a hand with matching transactions.

Let's match the check with the journal entry you've already added in QuickBooks Online.

Before proceeding, here are a few reasons the match may not have been recognized:

• The JE was recorded in a different bank account.
• The JE has been reconciled.
• The JE has been previously matched to another bank downloaded transaction.

You may want to double-check again that the date, amount, and category, and check numbers of the entries are aligned. This is to make sure those checks will match. In the Match transactions window, we can filter it to see only the journal entries. This is the easiest way to find and match it. You can follow these steps:

1. Go to Banking, select the transaction, and click Match.
2. From the Match transactions page, select Journal Entries under Show drop-down.
3. Make sure the From and To date are correct.
4. Locate the journal entry, check, then Save.

For more in-depth information about finding a match in QuickBooks, refer to these articles: 

• Tips for Working in QuickBooks Online’s Bank Feed: Matching Transactions
• What to do if QuickBooks matches the wrong transaction.

I want to ensure that you're able to match these transactions, so please let me know how it goes by posting a comment below. Hoping this response finds you with a smile.

@JessyM 

When you look at the journal entry created by A2X, is it assigning your cash and check payouts (debits) to the appropriate bank account and not to a clearing account or some other account? 

Thank you for your response and your assistance!  I do see in the datafile in quickbooks that it is a "Shopify clearing" account.  Do you know how I can fix that?  And how do I go back and fix those last payout so they connect to the deposit?

Thank you,

Jessica

Hi Jessica,

I'm having the exact same issue. Have you been able to resolve this? I would appreciate your response.

Thank you,

Meisam

Hello there, Safari. I'm here to lend a hand in resolving the issue you encountered under the find match section in QuickBooks Online.

There are things you need to consider for why your journal entries aren't showing. These include: 

• When the journal originates from a different banking institution;
• When the journal is reconciled;
• The journal may be linked to transactions from another bank.
• When the transaction is posted to a different date.

It would be best to review the details to ensure that the posting bank and its expense account are aligned. 

You can also consider getting some advice from your accountant to keep books accurate and expense accounts to use. Do you want to have one? Visit this article: The ProAdvisor Program.

Once everything is fine, go ahead and match your downloaded file to your existing transaction. See this page for your additional guide: Match online bank transactions in QuickBooks Online.

In addition, I've got here some helpful articles that you can check on handling your bank account:

• Reconcile an account in QuickBooks Online.
• Learn the reconciliation workflow in QuickBooks.

I'll be here to continue helping if you have any other concerns or questions about managing your account in QBO. It's always my pleasure to help you out again. Keep safe!

Hello @ChristineJoieR,

Thank you for your response. However, none of the points you mentioned (as follows) apply:

• When the journal originates from a different banking institution;
• When the journal is reconciled;
• The journal may be linked to transactions from another bank.
• When the transaction is posted to a different date.

I used the exact same process for the transactions that were within the past 180 days and had no issues, but I'm having difficulty when I'm trying to match the journal entries with the bank deposits that are older than 180 days. Again, the dates and amounts and accounts are all correct, and the points you mentioned above do not apply. And it's not only one transaction there are many of them, which seem impossible to match.

Your advice will be appreciated.

Thank you!

We appreciate your swift response and the additional information you provided, @Dr_Safari. We're happy to provide more details about matching transactions with journal entries in QuickBooks Online (QBO).

QuickBooks Online provides intelligent recommendations that allow you to align downloaded transactions and streamline your workflow. The system identifies potential matches, provided that all other criteria are met.

However, some transactions may not be matched with existing records due to various reasons, such as mismatches in amounts or dates, transactions that are older than six months, payments made from a different bank account, reconciled payments, transactions that have already been matched with another record, or those involving multiple currencies with significant exchange rate shifts. 

To learn more about managing and matching bank transactions in QBO, you can refer to this article: Match online bank transactions in QuickBooks Online. 

Furthermore, seeking guidance from your accountant can help you maintain accurate records and determine appropriate expense accounts. You may want to check out the article The ProAdvisor Program for more information. 

It's also a good idea to perform a regular reconciliation of your account to ensure that it remains balanced and accurate. You can refer to this article: Reconcile an account in QuickBooks Online in the future. 

Please don't hesitate to reach out to us in the thread if you have any questions or need clarification on matching journal entry in QuickBooks. I'm always here to help you with just a few clicks.