Matching Bank Feed transactions to invoices entered into accounts payable

Hi SPP33!

Thank you for using the Online Banking feature in QuickBooks Desktop. Matching your bank transaction to your vendor's invoice (bill) posted to A/P will speed up the payment recording process. I'm happy to answer your question about the effect of matching the transactions and guide you through the process.

Yes, you can match a downloaded transaction to your bill (vendor invoice) to mark it as paid. Normally, QuickBooks will automatically identify the bill as a matching entry, but if it has already been paid, the payment becomes the matching entry.

On the other hand, there are times when matching entries are not immediately identified. Therefore, you'll want to do it manually using the steps in the Manually match transactions section of this article: Add and match Bank Feed transactions in QuickBooks Desktop. The steps depend on whether your Banking Feeds Center is in the Advanced or Classic mode.

To know which mode you're using or to switch to another mode:

1. Go to the Edit menu and choose Preferences.
2. Select Checking on the left.
3. Choose the Company Preferences tab.
4. In the BANK FEEDS section, check or select a mode.

After matching your bank transactions and entering the rest of the transactions in a statement period, you can reconcile your bank account.

Let's make sure you can achieve your goal of matching your bank transaction to your bill, so let me know if you need more assistance. Take care and have a good one!

Thank you for your reply.  I am using Advanced mode.  I am still having the issue:

I have entered a bill into Accounts Payable.  The amount was drafted out of our bank account and that transaction was brought in by bank fees in the Unrecognized category.  I select the down arrow and Match to existing transactions.  The invoice does show up on the list and I put a checkmark which automatically puts the full amount of the invoice/payment into the To Pay column. I then select Save and Add to Register and I receive an error message:  Error: Transaction could not be created.   I am stuck.  This should be the easiest way to handle unless I am required to first go through the "Pay Bills" process to record the ACH payment.  Please let me know any further guidance.

I appreciate the detailed response, @SPP33.
 

We'd love to assist you with your banking concerns. However, I need further details so I can have a clearer picture of your issue.
 

May I ask for the exact error message you received when matching transactions in QBO? We'd also appreciate it if you provide us screenshots so we can have a better understanding of the issue and provide you with an accurate resolution.
 

We're looking forward to hearing from you soon, @SPP33. Just leave a reply below, and I'll be there right away to assist you further. Keep safe, and have a great rest of the day!

Here is a screen shot of the transaction I am trying to match to and the error message I receive when I hit Save and Add to Register

Hi there, @SPP33.

Thank you for sharing the screenshot of the transaction you're trying to match. To help isolate the issue and find a solution, we can perform some troubleshooting steps.

Let's run the Verify/Rebuild tool. Verify will detect any damaged data. Rebuild will attempt to fix the damaged data detected. It also allows your QuickBooks software to refresh the data inside the company file. 

Here's how to verify data:
 

1. On the top menu, click File.
2. Choose Utilities.
3. Select Verify Data.
   
4. Click OK when you see the message, QuickBooks detected no problem with your data.
5. If Verify finds an issue with your data, you'll be prompted to Rebuild Now or View Errors.
6. Click Close or View Errors and take note of the specific error message.

Next, follow these steps to rebuild data:
 

1. On the top menu, click File.
2. Choose Utilities.
3. Select Rebuild Data.
   
4. Click OK if you receive a prompt to back up your company file.
5. Click OK when you get the message, Rebuild has completed and proceed to the next step.
6. Run Rebuild Data again to make sure there's no error.

Additionally, make sure your QuickBooks Desktop is up-to-date. This way, you always have the latest features and fixes.

It's important to make sure that everything is frequently updated and reconciled. Check out these articles:

• Add and Match Bank Feed Transactions
• Reconcile an Account

Drop me a comment below if you have other concerns about bank feeds. I'd be more than happy to assist you again.