Reconciled via chart of accounts

tt24 · ‎February 08, 2021

Hi

I am trying to understand the difference between the transaction view in QBO and Chart of Account Deposit screen. Basically, I went through all the deposits in my bank account and moved them appropriately (like a deposit into Owner's Investment). But these transactions still show up as "Needs Review" in the Transaction view. Not sure how to fix this without having a duplicate entry.

Any help would be appreciated.

JamesDuanT · ‎February 09, 2021

Thanks for keeping us posted about your concern, tt24.

I'd also agree with your idea to delete the manually created deposits in QuickBooks Online. We can easily identify them in your register.

Transactions you've added, matched, or transferred from the Banking page will show as Cleared (C) with two-overlapping rectangle symbol. You can refer to the screenshot I've provided.

Meanwhile, manually added deposits or transactions will show as blank status. If these transactions are not yet reconciled, they will only show as blank or Cleared (C) without the two-overlapping rectangle symbol.

Once you've determine the deposits, you can start deleting them one at a time.

You can also use this article for reference if you accidentally deleted a different transaction or deposit: Use the audit log in QuickBooks Online.

From there, you can review the details of the transaction and recreate it.

Aside from that, you can also undo bank transactions that were added, matched, or transferred from the banking page: Unmatch downloaded bank transactions or move them to another account.

We'll be right here if you have additional questions regarding the process. Have a great day!

View solution in original post

Catherine_B · ‎February 08, 2021

You can match the transactions to avoid duplicates, tt24.

It looks like you've manually entered a deposit and you also connected the bank account you used for the deposits. QuickBooks matches the downloaded transaction with the one you already entered. This links them together so you don't get duplicates.

Let me show you how:

Go to the Transactions or Banking menu and select Banking.
Click the bank where the deposits were downloaded.
QuickBooks will recognize or finds a match based on the Deposit to, Payment method, and Bank account of the entered bank deposit.
Select the transaction and then Find match.
Review the match and click Save.

For more details, you can go to this page: Categorize and match online bank transactions in QuickBooks Online. After you've matched all the transactions you can then reconcile the account.

Keep me posted if there's anything else that you need help with. Take care and have a great day!

tt24 · ‎February 09, 2021

Looks like it might be easier for me to remove the manually added deposits and use the transaction view. Find Match isnt able to connect the Manually entered deposit with the transaction for some reason and is resulting in duplicate entries.

Is there a way to identify the manually entered deposits?

tt24 · ‎February 09, 2021

Looks like it might be easier for me to remove the manually added deposits and use the transaction view. Find Match isn't able to connect the Manually entered deposit with the transaction for some reason and is resulting in duplicate entries.