cancel
Showing results for 
Search instead for 
Did you mean: 
tstrebeck
Level 1

Matching Instant Deposits to an Invoice

I have instant deposit setup for Quickbooks Invoices that are paid over the weekend. However, I've had trouble matching those deposits to the invoice. Disclaimer - I'm still a novice when it comes to Quickbooks, so if I don't explain something clearly, please let me know!

 

With a normal QB Invoice, once the deposit is made, I can go into banking and match the deposit to the invoice that was paid. However, with the Instant Deposits, I'm not able to do that. How should I handle those transactions under banking?

4 Comments 4
Rubielyn_J
QuickBooks Team

Matching Instant Deposits to an Invoice

I would love to help you match instant deposits to an invoice in QuickBooks Online, @tstrebeck.

 

If these instant deposits are downloaded from the bank, here's how you can match them:

 

  1. Find instant deposits with the Match option in the Action column.
  2. Take note of the DateDescriptionPayee, and amount spent or received.
  3. Click the downloaded transaction to expand the view.
  4. Review the Matching records found in QuickBooks. 
  5. Choose the link next to each match to get more details.
  6. Make sure this is the correct match. In particular, review the Deposit toPayment method, and Bank account fields on forms for the existing transaction in QuickBooks.
  7. If this is the correct match, close the open transaction.
  8. Click Match.

 

There are instances that QuickBooks Online is unable to find or match the correct one. So we'll have to manually find the matching transaction. Just follow these steps:

 

  1. Go to the Banking menu, and then select Banking.
  2. Go to the For Review tab.
  3. Look for the deposit, then click to open the transaction.
  4. Click Find Match.
  5. You can narrow the result by changing the data range.
  6. Choose the matching transaction, then click Save

 

For more information, feel free to check out this article: Categorize and match online bank transactions in QuickBooks Online.

 

Once everything is settled, the final step is to reconcile them. This ensures your books are accurate and there aren't any duplicate transactions.

 

I'll appreciate it if you can get back to us if you have a follow-up question. I'll be happy to help you more. Keep safe and have a great day.

tstrebeck
Level 1

Matching Instant Deposits to an Invoice

The match option under Actions was not there, so I clicked "Find Match". The Instant Deposit isn't showing up. The only thing I see are a few open invoices that haven't been paid yet.

 

MariaSoledadG
QuickBooks Team

Matching Instant Deposits to an Invoice

Let's find out why the deposit isn't showing up when trying to match your bank transactions, tstrebeck.

 

I can give you some reasons that could prevent you from seeing the match option on the banking page. Please see the list below:

  • Make sure that the transaction has not been reconciled.
  • Verify the transaction was entered using the same bank account.
  • Double-check the transaction has not been previously matched to another downloaded bank transaction.
  • For deposit or payment received, make sure it's not on the Bank Deposit page (undeposited).

You can exclude the transaction instead of matching them. This will simply move the transactions out from the For Review tab, and won't impact your books since you've already recorded the payment. To do this, follow the steps below: 

  1. Go to the Banking menu, then select the Banking tab.
  2. Select the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Select Exclude.

QuickBooks Online automatically generates a reconciliation report each time you finish reconciling. You can print or export the report in case there issues with your reconciliation in the following month.

 

Reach out to us if you have additional questions about matching transactions. The Community is always here for you to help 24/7.

KPPalmer
Level 2

Matching Instant Deposits to an Invoice

Just curious if this information was helpful since I have the same problem.  None of the reasons a match would be prevented apply to my situation.  There is no reason the instant deposit should not pop up when I click Find Match, but the paid invoices do not show.  I find this feature frustrating and just excluding transactions because QBO doesn't work seems like a work around, not a solution.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us