Web Transfer

Hi Sim,

So the transfer is always an issue in QBO. Sometimes the artificial intelligence (AI) thinks things are transfers when they are not. Physically, you can call them transfers since money was transferred from one bank to another, but this is not the case in your books for accounting purposes. 

Did you receive against the invoice yet? I would start there before looking at the bank feeds. Once you received against the invoice, the bank feed should show an option for "Match". If you already accepted the bank feed (or matched), I would undo this and accept payment from the invoice first. 

Let me know. 

Thanks!

I accepted the bank feed but I undid it.  Please explain how to receive against an invoice?

Cool, all you need to do is find the invoice. There's a couple ways to do this; the easiest way is to go to your customer center and find it from there. 

From the dashboard:

Sales/Customers/type in the name of the customer/find the open invoice they paid for the dues and click on it.

And at the top right when you are in the invoice you can click on the "receive payment". 

Here you can check the invoice that was paid.

Once you save and close, go back to the bank feed and let me know if it's matching yet. Sometimes it does and sometimes it doesn't. We can work though it if it doesn't. 

I did the "received payment" as instructed.  No match on the bank feed.

Okay, once received, go to your dashboard and click "new". Click "bank deposit" (on the right side).

Enter the date the payment was received or better, deposited into the bank account. 

Make sure you have the correct bank account picked on the top left. 

Make sure the amount is correct. 

I'm assuming this is the only "payment" or "deposit" that hit the bank account since it was an online payment/transfer to your organization's bank account. 

Once you have the bank account, date, and payment amount correct save and close. 

Check to see if the match is there yet. Also, let me know if QBO's bank feed even shows the payment at all. 

Hello, Sim.

Allow me to hop in and help match your downloaded bank transactions to QuickBooks Online (QBO).

First of all, I agree with what deathtaxes1 mentioned above. To know more about creating a bank deposit in QBO, consider checking out this article: Record and make bank deposits in QuickBooks Online.

Moreover, I'll add this article that tackles matching and categorizing bank transactions for further guidance: Categorize and match online bank transactions in QuickBooks Online.

I also recommend performing a reconciliation on a regular basis to ensure your account is balanced and accurate. Refer to this article for future reference: Reconcile an account in QuickBooks Online.

Please post again or leave a comment if you have additional questions about this or anything else QuickBooks. I'll be here to assist. Stay safe.

Thanks Fritz! I don't have all those wonderful links you guys have. Sim, I'm basically trying to get you past this as quick as possible, but Fritz's links will teach you so you understand the process better. 

Thanks!

I click the bank deposit as instructed.  Still no match.

I've gone through these video prior to reaching out. I did find the solution.

Okay, so the good news is that the transaction is now in your books and ready to be reconciled. 

It would be nice to know if you see the deposit in the bank feeds. You said you undid the bank feed deposit so you should be seeing that still in the bank feed. Can you confirm that or not?

If you don't see it you can click on "categorized" button (while you are in the bank feed module). It's in the middle of your screen. From here you can make sure the transaction is not already accepted.  

Let me know what you see. 

I watched the video prior to reaching out.  I review it once more.  Thank you,

Yes, I undid the transaction.  It is showing up on the bank feed, confirmed.  

Awesome! Have a great day and good luck! 

It has not been solved.  I still have the amount outstanding in the bank feed in the spent column (check, instead of received, deposit).  The account receivable summary is showing a negative amount.

Ah, sorry, saw the post saying you watched a video and it was resolved. Sorry about that.

An amount should definitely should not be in the spent column. This means that money was given from your organization to someone else. 

1. Is that amount in the spent column the same as what was paid to you? 

If the A/R is showing a negative, let's circle back to the customer center. You should only see invoices and payments here. (There are other things) but these are the main ones. 

Make sure you refresh your screens if you have multiple open. 

If there is a negative amount anywhere in the customer center under that customer, let me know what amounts are showing up there. There should be the invoice amount and the payment amount and nothing else (again, assuming that was all there was with this particular customer). 

Because you see an amount in the "spent" column AND your A/R is showing negative, that means that these two things are unrelated. We need to fix the A/R negative amount first and then see what the deal is with that spent column number. 

I agree with Jess' instructions. One thing though - make sure the amount in the spent column is not an actual bank transaction that is completely separate from what we are trying to solve here. Sometimes we as bookkeepers and accountants think zebras when they are horses. That "spent" transaction may be correct in the spent column but it isn't for this customer. Double check it before excluding. Look at your bank statement for confirmation on what actually happened as that is your bible. 

Thanks for helping Jess! 

It worked!!  Thank you for your recommendation.  I appreciate your assistance.

I doubled checked the transactions before excluding and followed JessT's recommendation and it worked.  Thank you so much.  I appreciated your assistance.

Hi there, simtreasurer86.

I appreciate you for coming back to the thread to add updates about your concern and that the issue has been resolved. I'm glad to know that the colleague was able to provide the correct troubleshooting steps.

Please know that you're always welcome to add a comment below if you still have concerns related to QBO. We're are always around to help, simtreasurer86. Have a great day!