Matching Each Transaction - Better way?

I'll help with your question about matching downloaded transactions, prelb.

QuickBooks Online has a feature called Bank Rules. This would let you automatically match downloaded bank transactions based on the premises or factors that you selected. Here's how:

1. Go to the Banking or Transactions menu, then select Rules.
2. Click New rule.
3. Enter a name in the What do you want to call this rule? field.
4. Select Money in for sales or payment transactions.
5. Go to the drop-down list for In ▼, then select the bank or PayPal account.
6. Set the rule conditions. You can set a single rule with up to 5 conditionals. Set and include the following, then select + Add a condition.
7. In the Conditions fields, specify whether the rule applies to Description, Bank text, or Amount. Then, select Contains, Doesn't contain, or Is exactly to decide how QuickBooks applies the rules.
8. Select the Transaction type, Category, Tags, and the Payee to apply.
9. Click Save.

You can also take a look at this article for more details about this feature: Set Up Bank Rules to Categorize Online Banking Transactions in QuickBooks Online.

I would also like to share these articles with you to add more banking-related references:

• Unmatch Downloaded Bank Transactions or Move Them to Another Account
• Undo or Remove Transactions From Reconciliations in QuickBooks Online

Please reply below if you have follow-up questions. We're always here to help. 

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@prelb wrote:

Does anyone have any idea on a better way for us to set this up? I've looked for integrations and there doesn't seem to be anything that would help. 

 

@prelb 

Explore this app to reconcile your Shopify and Paypal transactions in your QBO and avoid duplication.

https://synder.grsm.io/quickbooks

Hi JenoP,

Thank you for this, but I'm not sure if this solves the issue. I don't need to auto-categorize it, I need to MATCH it to an existing sales receipt. 

Our Sales Receipts get generated by QBO - named "Ebook Customer", whereas they come through from Paypal with a customer name in description. And we can't use Amount as we have several orders each day with the same amount. Does QBO allow for variables in these fields? It doesn't look like it and I think that's the only we we could get it to identify properly if we did. 

And even if we could get each transaction to identify to the correct sales receipt, there is no "Match" option in the rules you pointed out, only deposit / transfer / CC payment.

Hello there, @prelb. Thanks for following the solution provided by my peer and sharing your insights about it.

Yes, you're right that applying a rule to transactions that are money in is limited to deposit, transfer, and credit card payment. 

Let's send your valuable feedback to our Product Development team by following the steps below.

1. Go to the Gear icon.
2. Select Feedback under Profile.
3. Enter your suggestion. Then, click Next.

Then, we can look for a third-party application that will help you match multiple transactions smoothly in QuickBooks. You can go directly to the QuickBooks App Store website. From there, you can look for an app that integrates with QBO. 

Find the right apps for your business using our website:

1. Go to this link: QuickBooks Apps.
2. You can select a specific category under the Categories section.
3. Then, make sure to review the key benefits and FAQs.
4. Once done, click the Get app now button.

Another option access them from the Apps menu within your QBO account. Go to the Apps menu> utilize the Browse category button> click the app so you can check more details.

For more details about adding, matching bank feed transaction, and keeping your accounts accurate, you can visit these articles:
 

•  Categorize and match online bank transactions in QuickBooks Online.
•  Reconcile an account in QuickBooks Online. 

We always want to hear your suggestions as we continue developing the product as best for your business. Feel free to comment below if you have other concerns with QuickBooks. Take care always, prelb.

Hi SarahannC,

Thank you for this. 

So am I clear in understanding that Quickbooks cannot auto-match these transactions? The only way to do this is to find another app that is designed for e-commerce transactions that can auto-match these?

Do you have any recommendations for one you'd suggest?

Thanks!
Phil

Welcome back, prelb.

You understand it right. However, we're unable to recommend a specific application that can help you match multiple transaction. Nevertheless, the applications available in our Apps Center are all approved by our developers and engineers and can best be integrated with QuickBooks Online (QBO).

Once don, you may find this article helpful about matching transactions: Categorize and match online bank transactions in QuickBooks Online.

For your next step, feel free to visit these links about reconciliation in QBO for reference:

• Reconcile an account in QuickBooks Online
• Learn the reconcile workflow in QuickBooks

The Community is always open if you have other questions. I'll be around to help. Wishing you a great day ahead!