Quickbooks Desktop Premier 2020 Confusion With Matching Transactions

Hello there, @kandmengineering1.

Once you downloaded the bank transactions, you'll have to match them to the transactions you created in QuickBooks. Adding transactions will result in doubling your income report.

Also, if you didn't create any transaction in QuickBooks, you can directly add the bank transactions. You don't have to enter a new transaction since QuickBooks will create a new one automatically.

For the accounts, you'll have to use the specific ones where you'll record the expenses and sales. You'll want to consult an accountant to correctly record the transactions in QuickBooks.

For more details about adding and matching bank feed transactions, check out this article: Add and match Bank Feed transactions in QuickBooks Desktop.

You may want to consider mastering the reconcile workflow in QuickBooks. This way, you'll be able to make sure your books are accurate.

Keep me posted if you need further assistance while working in QuickBooks. I’m here to help and make sure you’re taken care of. Have a good one.

Thank you for your reply.

I have a subsequent question.

Can you only match transactions that are on the "Transaction List" in the Bank Feeds? I ask because before I started to match transactions, I categorized all of my previous transactions into different accounts (utilities, payroll, stock, etc). In doing this, the transactions I categorized were taken down from the "Transaction List". While I did assign the transactions to their respected accounts, I did not match the bank transactions to their respected invoices and bills which I also have as transactions in Quickbooks.

Hello there, @kandmengineering1. 

Thanks for following up on this thread. I'm happy to provide some information about matching transactions. 

Here's how to match multiple transactions with your downloaded bank transactions in QuickBooks Desktop: 

1. Click Banking, then go to Use Register. 
2. Choose the specific Bank account where the downloaded transaction is recorded. 
3. Select the specific downloaded bank transaction. 
4. Put a check-mark on the transaction you want to match. 
5. Pick Add More Details from the Action drop-down. 

For more detailed instructions about matching transactions in QuickBooks Desktop, you can refer to this article: Add and match Bank Feed transactions in QuickBooks Desktop. 

Feel free to comment below if you have any more questions or concerns. Have a safe and productive rest of your day!

I am confused as I am not seeing an option to put a check mark next to any of the transactions, I only see lightening bolts which signify that the transaction was successfully downloaded from my understanding.

Additionally, I do not want to match transactions within the register I want to match a transaction on the register to an invoice/bill that I have created. Is there a way to do this?

Hi there, kandmengineering1.

Let me provide clarifications and additional information and steps, so you're able to match your transactions to an existing bill/invoice.

Yes, you can only match transactions that are on the "Transaction List" in the Bank Feeds. This is because the downloaded transactions directly fall from there. That being said, there's isn't a way to match the entries in the register.

Since you already downloaded bank transactions, I suggest going to the Bank Feeds Center. From there, you're able to see the option to put a checkmark next to any of the transactions to start matching entries.

Here's how:

1. To start, go to the Banking menu.
2. Select Bank Feeds and then Bank Feeds Center.
3. Choose the bank account and then click the Transaction List button to review the items.
4. Check the box of the transaction you wanted to match and then click the Select drop-down list on the Action column.
5. Choose Match to Existing Transaction and then choose the item to match with bank transactions.
6. Click Confirm Match and then choose OK to confirm.

For additional information, you can click this article: Add and match Bank Feed transactions in QuickBooks Desktop. This also provides different links to learn more about Bank Feeds.

Please check this article to see steps on how to exclude duplicate transactions right from your bank feed depends on the mode you're using: Remove duplicate transactions in QuickBooks Desktop.

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.