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AJGmc
Level 3

Matching uploaded transactions in foreign currency

I have uploaded transactions from the bank using CSV. The transactions include bank charges. I can't match these to bills as the "find match" option is not available. I have tried the manual fix of selecting the supplier and then going to select the bill in the supplier account but the bank charges are then not included. This happens mostly with foreign currencies but as I work with a lot of foreign currencies I would like to avoid having to do these constant manual fixes. Has anyone had a similar experience?

6 Comments 6
Angelyn_T
QuickBooks Team

Matching uploaded transactions in foreign currency

I'm here to share with you some information about matching uploaded transactions in QuickBooks Online, @AJGmc.

 

Matching foreign currency bill from the Banking page is not an option for now. This is why your transactions are not showing when you try to match your entries.

 

For the time being, you might want to delete and recreate the transaction using the home currency. Or, exclude the transactions from the For Review tab. This won't affect your accounts or balances since the transactions are already recorded in QuickBooks.

 

Here's how:

 

  1. Select the transactions involved from the For Review tab.
  2. Click Batch actions' drop-down arrow
  3. Choose Excluded Selected

 

For more tips about handling your banking transactions, you can open this article: Categorize and match online bank transactions in QuickBooks Online.

 

I'm also adding this link to get more hints about foreign currencies: Multi-currency tips and tricks.

 

If you have any other follow-up questions about your banking transactions, let me know by adding a comment below. I'm more than happy to help. Keep safe!

AJGmc
Level 3

Matching uploaded transactions in foreign currency

I'm sorry I don't understand either of your solutions! I don't understand how Quickbooks can't identify multicurrencies?? I've uploaded the transactions to a specific currency account so Quickbooks doesn't need to identify the currency, I've told the programme what currency it is. If I exclude the transactions from the "for review" tab they will not be recorded in the bank ledger and I will have to manually enter them. I'm sorry please can you try and explain again.

JonpriL
Moderator

Matching uploaded transactions in foreign currency

Let me offer help and clarify a few things about your transactions, @AJGmc.

 

You're on the right track, you can import your transactions with the foreign currency already assigned to the bank account in QuickBooks. Multicurrency transactions do not have the option to find a match based on your existing entry.

 

You don't have to exclude them, it is recommended to manually create the corresponding entries so the system can automatically find the match and add them with your confirmation instead. Say, if you import a bill from the bank, you'll also need to enter the bill payment to match them.

 

In the same manner, here's an article to learn more about categorizing and matching your uploaded transactions: How to Review Downloaded Bank and Credit Card Transactions and put them in the Correct Accounts?

 

On top of that, I've also included this reference helpful with the steps needed in balancing your account ledger in QuickBooks: How to Reconcile your Accounts so they Always Match your Bank and Credit Card Statements?

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

AJGmc
Level 3

Matching uploaded transactions in foreign currency

As I said before when I manually enter the payee to match the bill in the supplier account I then can't enter the bank charges without making a seperate entry. Do you think that Quickbooks will be finally offer the option to match foreign currency bills to uploaded transactions? When you match a bill in the home currency you have the option to adjust for bank charges. It's rather frustrating that you can't do the same thing with foreign currencies. Especially when the package is sold as a multi currency package.

Rea_M
Moderator

Matching uploaded transactions in foreign currency

I recognized having the option to match foreign currency bills to uploaded transactions can aid you in running your business flawlessly, @AJGmc. That's why I'm here to share further details about this.

 

Once enough customers are interested in matching foreign currency bills to uploaded transactions, it'll definitely be something that our product engineers could consider adding as a QuickBooks Online (QBO) feature in the future.

 

In line with this, I encourage you to send a product recommendation. Your valuable feedback will be forwarded and reviewed by our Product Development team to help improve your experience while using the program. Here's how:

  1. Go to the Gear icon.
  2. Select Feedback.
  3. Type in your recommendation in the Share your feedback field.
  4. Click Next.
  5. Follow the on-screen instructions to complete the process.

 

I've attached screenshots below that show the first four steps.

 

 

On top of that, here's a couple of helpful articles in keeping you up-to-date with the latest software improvements and enhancements: Customer Feedback for QuickBooks Online.

 

I'm all ears if you have other concerns about matching uploaded bank transactions or multicurrency inquiries. Just reply here or create a new thread. I'll be right there with you. Take care always.

AJGmc
Level 3

Matching uploaded transactions in foreign currency

Thanks I will follow this recommendation, thanks for all the replies.

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