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joaocorreia
Level 1

Quickbooks Matching Entries for Subscription Business

Hi Quickbookers


I have a Subscription business and we charge customers via Quickbooks, either Recurring Transactions > Sales Receipts or Invoices. Invoices do have online payments enabled. 

 

When someone pays I would imagine Quickbooks can link who paid to the bank entry because it has a unique id? Recently I saw Quickbooks asking to find a Match instead of doing this automagically. In our plans we charge multiple customers the same exact value which can be confusing.


This can become a problem as we grow. 

What's your experience and how can I have QuickBooks match revenue to invoices automatically without the need for human intervention?

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Thank you
Joao

2 Comments
LollyNino_C
QuickBooks Team

Quickbooks Matching Entries for Subscription Business

Thanks for bringing your question here in the Community, @joaocorreia

 

 

I have some information on howto QuickBooks matches your invoices. You can set up bank rules to automatically match the downloaded transactions. All you have to do is create a recurring transaction for your customer's invoices. 

 

 

Here's how: 

 

 

  1. Go to the Banking/Transactions menu, and then choose the Rules tab. 
  2. Click New Rule and enter a name in the Rule field.
  3. From the For ▼ dropdown, select Money in or Money out.
  4. From the In ▼ dropdown, select the bank or credit card account.
  5. Set the rule conditions. Decide the transaction must meet All or Any of the conditions. You can add up to 5 conditions. 
  6. In the Conditions fields, specify whether the rule applies to Bank textDescription, or Amount.
  7. Then select ContainsDoesn't contain or Is exactly to decide when how Quickbooks applies the rules.
  8. Select the settings for the rule. then click the Transaction TypePayee, and Category to apply and select Save. 

QuickBooks automatically applies your rules to transactions in the For Review tab. 

I'd like to provide this article on how to review your recurring transactions to get a list of all your recurring transactions. This way, you can get a list of the accounts they're linked to in QuickBooks Online. 

You can also check out this article on how to categorize and match online bank transactions in QuickBooks Online.

 

Let me know if you have more banking concerns about recurring transactions. Happy bank rule creating! 

Fiat Lux - ASIA
Level 15

Quickbooks Matching Entries for Subscription Business

@joaocorreia 

When your business is growing, consider having a subscription management app to integrate with your QBO account.

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