System recorded deposits affecting bank feed and QBO balances

Hello, @mattlockwood. I'll share some insights to help you avoid this kind of issue in the future with regards to system recorded deposits.

If you use QuickBooks Payments, it will process and move transactions into your accounts automatically. Everything is normally recorded as a single record with a single total at the bank. The method your bank reported the deposit will not match the way you enter the same payments as individual records in QuickBooks.

For you to avoid the same issue in the future, you'll need to match the bank transactions instead of adding it manually. At this time, the option to turn off this function in QuickBooks Payments is unavailable.
 

You can visit this following article to give you more insights with managing deposits in QuickBooks Online.
 

• Deposit payments into the Undeposited Funds account in QuickBooks Online
• Record and make bank deposits in QuickBooks Online
   

The Community is always open if you have any questions in managing your bank deposits or any other QuickBooks concerns. Have wonderful day ahead!

I have this same issue.... There really just needs to be a way to turn it off. The bank feed is far more reliable and accurate, since the deposits or fees may not hit the bank account on the day the system generated nonsense is. Also, we're reconciling the bank account in quickbooks to the actual bank account. So if Quickbooks is just making up transactions willy nilly, it's just aggravating (understatement of the year).

It REALLY makes no sense that quickbooks just decides to create these entries and then pull data from the bank, so when accountants/bookkeepers are working to reconcile things we have to go in, figure out which transactions need to be deleted, see "System Generated," know it's just there to waste our time, delete all of them, and hope and pray that was the only issue.

I almost pulled my client aside because of this issue to talk with them and tell them to stay out of the books, because these entries are creating issues, but then I realized it was quickbooks. So now I'm telling Quickbooks to cut that crap out. It's annoying. It's NOT helpful. MAKE IT STOP!!!!

AGREED! This is so ridiculous - you say you must "match" the transaction instead of recording manually - THAT'S NOT AN OPTION! QBO does not even recognize the match when there is one.  

This is one of several thousand reasons I hate this platform!

Welcome back to the QuickBooks Community, 44 3 00. I can see how automatically categorizing by matching your entries is important for managing your transactions. With this, I'll share some information about how QuickBooks Online matches them and ensure you'll be able to organize your transactions accurately.

Please know that QuickBooks always automatically match your transactions once it detects entries with similar amounts and details. However, there are cases where some of the transactions can’t find their match from existing records. Below are the possible reasons why:

• The payees don’t match
• The amounts don't match
• The dates don't match or aren't close
• The transaction is older than 6 months.
• Tip: You can still find a match when you select the Find match section
• The bank account on the payment is not the same as the bank where the match is located
• The payment has been reconciled
• The transaction is already matched to something else
• There’s a multicurrency issue with the exchange rates, or the transaction doesn't pass through the home currency at some point.

Then, keep in mind that you don't have to enter a new transaction if you already entered one that should match but QuickBooks couldn't find it. Instead, I recommend using the find match option to look for similar entries that match the correct one and avoid double entries.

Here's how:

1. Click the Banking menu at the left pane to get to the Banking page.

2. Locate the downloaded transaction and select Find other records/match to open the Match transactions window.

4. Choose the box to uncheck the recommended match.

5. Enter the correct date range in the From and To fields.

6. Choose the correct match and make sure the total matches the transaction downloaded from your bank.

7. Click Save.

Lastly, you may refer to this article to see the instructions on how you can reconcile your accounts so they always match your bank and credit card statements to avoid discrepancies: Reconcile an account in QuickBooks Online.

Please know that you're always welcome to post if you have any other concerns about matching entries. I'm always here to help, 44 3 00. Wishing you and your business continued success.