You'll have to match the customer payment to the invoice so the deposit will be recorded in QuickBooks, Idan. I'm here to provide details on how QuickBooks executes this procedure so you can maintain the accuracy of your financial data.
Only transactions that are officially posted on the bank's website will be downloaded into QuickBooks. If the payment hasn't been imported yet, you can either wait for it to appear and be downloaded to QuickBooks or perform a manual update in case it's stuck so you can match it to your invoice.
Furthermore, QuickBooks is unable to match transactions due to any of the following reasons:
- Amounts or dates don’t match
- Transaction is older than 6 months
- Bank account on the payment isn't the same as the bank where the match is located
- Reconciled payments
- The record is already matched to another transaction
- The system will look for transaction(s) that fall within a 10% range of the bank transaction dollar amount when trying to match foreign currencies
- There are multiple currencies involved, and the exchange rate has shifted significantly, making the amounts very different
However, you can still find a match when you select the Find other matches section in the Transactions menu. For more details about matching downloaded bank and credit card transactions, please see this article: Match online bank transactions in QuickBooks Online.
Once you obtain all your bank records, review and categorize them. Then, reconcile your accounts so they always match your monthly statements.
Moreover, did you know we have a QuickBooks Live Expert Assisted team ready to help you sort your transactions? I encourage you to explore their services today.
Stay in touch if you have other banking concerns or need further assistance managing finances in QuickBooks. We're always here to help.
