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ARM4
Level 1

Mismatched bank feed

We are using Quick Books Online and receive a daily bank feed including paid priority checks.   In our business we issue multiple checks for the same small dollar amounts.  I had been relying on QB to automatically match the check number and amount from the items in the daily bank feed to the check created for payments in QB. 

 

After the recent update to the online system, I now have approximately 200 checks that are mismatched.   I have already reconciled the Bank Account for July 2021 with no issues.

Since the mismatched checks have already been matched QB will not be able to match the items.

 

How do I go about un-matching and re-matching the bill payment to the correct paid priority check from the bank feed.  When I attempted to do this it added another check to the vendor.

 

How will this process effect my Bank Reconciliation for August 2021?

3 Comments 3
Catherine_B
QuickBooks Team

Mismatched bank feed

I can help you manage your bank downloaded transactions, ARM4.

 

It's possible that the new downloaded checks are duplicates due to the update. It can also be that you have set up bank rules that match the data to categorize and add in your bank feeds. We can check that out first to verify. 

 

  1. Go to the Banking or Transactions menu.
  2. Click the Rules tab.
  3. Look for a possible rule name and conditions that match most of your incorrectly matched checks.
  4. If you want to delete it, just click the dropdown arrow under the ACTIONS column.

If the transactions you want to unmatch are already reconciled, I suggest reaching out to your accountant before taking any actions. Unmatching your bank transactions might affect the balances of your previous and future reconciliations. If it looks like these transactions are duplicates, you can exclude them. 

 

Don't hesitate to leave a comment if you have queries in managing your bank feeds. I’ll be right here ready to assist. Have a good one.

ARM4
Level 1

Mismatched bank feed

Hello Catherine_B

 

I appreciate your help!  I went to the rules tab and determined that there were no rules that would effect the matching of the check payments in the bank feed to the bill payments.  

 

I was relying solely on the matching feature in QBO to match the check numbers and amount that were updated from the bank feed.  

The issue is that there are a large number of checks for the same dollar amount.

QBO would select the most recent check for a certain $ amount say $50 and match to that bill payment even if incorrect.  When the dollar amount and check number matched, I would select match.

 

Going forward I am reviewing Our Online Banking account to identify the checks that have cleared on the day of the update.  Then I am going into QBO Review Transactions and matching the checks Manually.  I do not trust the automated matching in QBO.  This seems to be working for the Go Forward Plan.

My problem is the Un-matching Part and Correction of over 200 checks that have been mis-matched.  I have a record of the 200 or so checks that have been mismatched and could rematch them but the system puts a "check" into the Vender Record and increases the amount of the Vendor balance when re-matched to the correct check clearing.  

I am not sure what to do.

 

Deb

 

Rubielyn_J
QuickBooks Team

Mismatched bank feed

I can share with you some steps on how to fix mismatched transactions in QuickBooks Online, @ARM4

 

To begin, let's undo or unmatch transactions downloaded on your banking page. To do this, here's how:

 

  1. In your QuickBooks Online account, go to the Banking or Transaction menu.
  2. Select the Banking tab.
  3. Click the Categorized option.
  4. Choose the entries.
  5. Select the Undo button.

 

Then, you can start matching the bill payment to the correct paid priority check from the bank feed. You can also open this link to help resolve mismatched or miscategorized bank transactions. 

 

I've also added this article to help you reconcile your accounts. Doing so will help match your bank and credit card statements.

 

Keep me posted if you have other questions about matching your banking transactions in QuickBooks. I'll be happy to assist you again. Take care!

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