Matching bank transactions to invoices

Good evening, @SmartTe. 

Welcome to the Community! I'd be more than happy to help you match these transactions. 

To clarify, have you tried using the steps and helpful tips from this guide below? 

Categorize and match online bank transactions in QBO

I want to ensure that I get you back to running your business. I'll be waiting for your response! 

Hi @Candice C 

I normally do match transactions as mentioed in the guide you provided, however, this time the process did not work. This is the first time I am getting a ACH deposit in response to an Invoice, so very likely that I am doing something wrong. 

Thanks for your support and look forward to getting the next tip.

Thank you for providing additional information, @SmartTe.

I'll help make sure you can match your ACH deposit to the invoices.

Just to clarify, are you not seeing the invoices when trying to match the ACH deposit? If it's the case, there are a few factors why QuickBooks don't recognize any possible matches. Here is a list of them:

• The transactions entered in QuickBooks Online (QBO) don't simply match the number, amount, date, or payee of your downloaded bank deposits.
• The transaction/s you want to match have been reconciled.
• The transaction entered in QBO has already been matched to another downloaded transaction.
• The transactions were downloaded twice. If these transactions have already been added to QBO and have a lightning bolt in the CLR column, they will not be matched again.

After confirming everything, let's check your bank register to verify if the existing entry was already cleared in QBO.

Once you're able to match your ACH deposit, you can proceed with reconciling your bank account in QBO.

Come back to this post if you have other concerns or follow-up questions about matching transactions. I'll be around to provide further assistance.

I checked the bank register as you suggested and there are several discrepancies. As a background, I had received two ACH deposits for complete payment for three invoices. However in my bank register it shows the following

1) I had created a New "Received Payment" for the two invoices. The full amount of these invoices shows up in the register under the type of Payment

2) Then the two deposits show up in seperate entries. These are the ones I would like to reconcile to the invoices - but for some reason dont have the option to do so.

3) THe last entry is the payment for just one of the two deposits, which shows up as a seperate deposit by itself. 

Due to this, QBO is double or triple counting these two deposits as revenue and bank balance, thereby creating problems in both the bank register and P&L statement.

Look forward to your assistance to resolve this and also how should I be dealing with ACH deposits in the future.

Thanks for all your help.

@Mark_R 

@Candice C 

I checked the bank register as you suggested and there are several discrepancies. As a background, I had received two ACH deposits for complete payment for three invoices. However in my bank register it shows the following

1) I had created a New "Received Payment" for the two invoices. The full amount of these invoices shows up in the register under the type of Payment

2) Then the two deposits show up in seperate entries. These are the ones I would like to reconcile to the invoices - but for some reason dont have the option to do so.

3) THe last entry is the payment for just one of the two deposits, which shows up as a seperate deposit by itself. 

Due to this, QBO is double or triple counting these two deposits as revenue and bank balance, thereby creating problems in both the bank register and P&L statement.

Look forward to your assistance to resolve this and also how should I be dealing with ACH deposits in the future.

Kindly inform me if a screen shot would be helpful to understand the problem I am facing.

Thanks for all your help.

Thanks for getting back with the Community, SmartTe. I appreciate your detailed information.

When categorizing and matching transactions in QuickBooks, you have options to match, add, or view multiple matches.

You can initially try matching records with existing transactions.

Here's how:
 

1. Find a downloaded transaction which shows the Match option in its Action column.
2. Note your Date, Description, Payee, and amount received or spent.
3. Click the transaction record to expand its view.
4. Review your Matching records found. This is the possible matching transaction(s) you've already entered in QuickBooks.
5. Hit your link next to each match to see more details.
6. Confirm you've found the correct match. Be sure to review your Deposit to, Payment method, and Bank account fields on forms for the existing transaction.
7. If your match is correct, close the open transaction.
8. Select Match.

Your books will now know the downloaded transaction is the same one you've already entered in your books. Both records will be connected so there are no duplicates.

Here's a list of reasons why some transactions won't have a match:
 

• The payees don't match.
• The amounts don't match.
• The payment has been reconciled.
• The dates don't match or aren't close.
• The transaction has already been matched to a record.
• The bank account on your payment isn't the same as where your match is located.
• The transaction is 6 months or older. You can still locate a match by using your Find match option.
• There's a multicurrency issue with the exchange rates, or your transaction doesn't pass through the home currency.

You can also match and categorize transactions by confirming paired bank transfers, adding new transactions, viewing/reviewing multiple matches, or working with partially matched transactions. You'll be able to find detailed steps for each of these processes in our Categorize and match online bank transactions article.

I've also included a detailed resource about reconciling which may come in handy moving forward: Reconcile an account

If there's any questions, I'm just a post away. Have a wonderful day!