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143LW
Level 1

Match new journal entry transactions with accepted bank feed transaction

How do you match a new journal entry transaction to an existing accepted bank feed transaction in Quickbooks Desktop Pro 2019?

Solved
Best answer March 02, 2019

Best Answers
Anonymous
Not applicable

Match new journal entry transactions with accepted bank feed transaction

You can't.  Once you accept the transaction and record it, then it's just like any other transaction in QB. 

 

And transactions in QB can't be matched or combined.  They each stand alone. 

View solution in original post

9 Comments 9
Anonymous
Not applicable

Match new journal entry transactions with accepted bank feed transaction

You can't.  Once you accept the transaction and record it, then it's just like any other transaction in QB. 

 

And transactions in QB can't be matched or combined.  They each stand alone. 

View solution in original post

thekkman
Level 1

Match new journal entry transactions with accepted bank feed transaction

In such instances, how do you avoid the double-counting and keep your account in balance?  I can't delete one because it is the summary of a payroll tax, and can't delete the other because it is the record of the money being withdrawn fro my bank - right?

Ryan_M
QuickBooks Team

Match new journal entry transactions with accepted bank feed transaction

Hi @thekkman,

 

I'm here to clear things up for you about your query above.

 

QuickBooks uses the double-entry accounting method, and there isn't any way to disable it. Every time you make an adjustment, it needs a corresponding pair for that adjustment.

 

If you have other questions, you can post them below. I'll get back to you as soon as I can.

Jennie7
Level 2

Match new journal entry transactions with accepted bank feed transaction

I would love some help on this too. Our payroll system records the journal entry for health insurance, but then I am also seeing an expense being recorded for the money leaving our bank for health insurance - which is creating a double entry. how do I match the two? 

Pabz_L
QuickBooks Team

Match new journal entry transactions with accepted bank feed transaction

Hello there, @Jennie7.


If you're using a third party application for payrol, you can match the downloaded transaction with the journal entries you've already entered to avoid double entry for the health insurance in QuickBooks.

 

Here’s how. 

 

  1. Go to the Banking menu.
  2. Select Bank Feeds and then Bank Feeds Center.
  3. Open the Match Transactions window and from the Financial Institution dropdown, make sure the correct bank account is showing.
  4. Select the transaction in the statement that you need to match a transaction in the register.
  5. Select the transaction in the register to match to. Make sure the amounts match.
  6. Click Match.

 

Please refer to this article for more detailed information on adding and matching transactions. Add and match Bank Feed transactions.

 

 If you need some information or procedures while using QuickBooks, you can use this handy article as your future reference. Help article.

 

 Please let me know if you have any other questions. I am here to help. Take care!

dlopez56
Level 1

Match new journal entry transactions with accepted bank feed transaction

I downloaded the payroll report from third party payroll company, it creates a journal entry.  How do I match the journal entry with the withdrawl from the bank in the register.  I now have it posted twice, one in the register and with the journal entry

Charies_M
Moderator

Match new journal entry transactions with accepted bank feed transaction

Thanks for bringing this concern to me, dlopez56.

 

Instead of adding the downloaded transaction from your bank feed, you'll need to match them to avoid duplicates. 

 

Since it's already posted twice, we'll want to Ignore it to exclude the added transaction to prevent duplicates. Let me walk you through how to do it: 

 

  1. From the Banking menu, select Banking Feeds.
  2. Select Bank Feeds Center.
  3. On the left pane, select a specific bank account. 
  4. Click the Transaction List button.
  5. On the Transactions List window, mark the transactions you need to undo.
  6. Under the Action column, select the drop-down and choose Ignore.

Once done, you'll want to redownload the specific transaction so you can match it with the Journal Entries. You can refer to Pabz_L's instruction on how to Match Transactions in QuickBooks Desktop

 

To reconcile your accounts, you may need this reference: Reconcile an account in QuickBooks Desktop.

 

If you have any other concerns or questions, please tag me in your comment below. Have a good one.

srinududi
Level 1

Match new journal entry transactions with accepted bank feed transaction

Same question. How to do in quickbooks online?

Adrian_A
Moderator

Match new journal entry transactions with accepted bank feed transaction

I've got the steps on how we can exclude the transactions on the QBO version, srinududi.

 

After you match the transactions, you can exclude the duplicate transactions. Let me guide you how:

 

  1. From the Banking tab, select Banking.
  2. Go to the Categorized column.
  3. Select the transactions.
  4. Click Exclude.
  5. Go to the Excluded tab.
  6. Select the transactions that you've excluded.
  7. Click Delete.

 

 

Afterward, you can reconcile the transactions. I've added this reference as your guide: Reconcile an account in QuickBooks Online.

 

I'm just a post-away if there's anything that I can help. Keep safe!

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