Why do some bank deposits not allow matching to sales and refund receipts when the values are the same?

It's not uncommon to encounter situations where seemingly identical transactions don't always match seamlessly. While QuickBooks Online aims to simplify financial management and reconciliation, certain aspects can lead to variations in how transactions are recognized and linked.

In your case, this can be attributed to a combination of factors related to timing, categorization, data synchronization, and the logic of the matching algorithm. Check out the pointers below:

• The payees or dates don’t match.
• The entry is older than 6 months.
• The bank account on the transaction isn't the same as the bank where the match is located.
• The sales/refund receipt has been reconciled.
• The record is already matched to another entry.
• There are multiple currencies involved with significant exchange rate shifts, leading to varying amounts.

Should any of these factors come into play, manual intervention is required to ensure accurate matching. I recommend double-checking each transaction and adjusting the date filters as needed. Furthermore, don't forget to consider the differences in bank accounts, currencies, and reconciliation status.

Lastly, here's a compilation of articles that provides guidance on the categorization and reconciliation process:

• Review and match bank transactions
• Reconcile an account

Your financial accuracy and confidence are essential, and I'm here to support you every step of the way. If you need further clarification, assistance with reviewing your books, or additional insights, please feel free to get in touch.

1.  The dates never match because the sales receipt is posted the day before the bank deposit is posted.

2. All of our Payees are "square customer"

3. These transactions are from August 2023

4. The sales receipts are going into payments to deposit and I'm trying to link them to the deposits in our bank checking account.  So I don't think there is a bank account linked to the sales receipts, but that is what I am trying to match.

5.  We have not reconciled transactions for this month

6. When looking in the app transaction under reviewed, there is a 3rd line that says deposit on some dates, but the value is not the same as any actual bank deposit.  I'm not sure where that value came from

7. All in US dollars

Any additional ideas?

Thank you

Hi there, stephaniesheets86. Thanks for getting back to us and providing additional detailed information. 

I'm here to share details to ensure you can match your sales receipts and deposit in QuickBooks Online (QBO).

Since the clearing date and the recorded date differ, you can adjust the date to align your transactions with your bank statement. However, it is possible that it will not give you accurate sales data. Thus, it's up to you if you change it or not as long as in QuickBooks, the system matches the square transactions with your bank statement. So it won't cause duplicate.

Then, since you've mentioned that the sync square transactions are still in the payment to deposit window, you're correct that it's not yet reflecting to your bank register. And you have two option to record this by manually creating a deposit and select payments included in the deposit or directly go to the banking page and find match. For more details in creating a deposit, see this article: Record and make bank deposits in QuickBooks Online.

As for your last concern about what you see in the app, I recommend reading your square transaction list to confirm the combination of the deposit because other transactions, such as fees, may be included.

Once everything matches and you know your accounts are balanced and accurate. I recommend reconciling the bank account every month. For guidance, see this article: Learn the reconcile workflow in QuickBooks.

Please let me know if there is anything else I can do for you by leaving a comment below. I'll be right here to assist you with matching your bank transactions. Have a wonderful day!

Our bank deposits are already showing via the banking feed into Quickbooks, but when I try to manually match, the sales receipts and refund receipts that I need to match it to are not available to select.  It shows many other dates, just not the one we need.  This is only happening with some of the dates.  Because of this, I don't feel confident that adjusing the date will help.

Thanks for checking back with us, @stephaniesheets86.

Since it seems you've met all the criteria that could cause the program to not find a match, you can exclude the transactions. This will simply move the transactions out of the For Review tab and won't impact your books since you've already recorded the payment. 

Here's how: 

• Go to Banking on the left navigation panel.
• Use the boxes on the left to select the deposits.
• Go to Batch Actions, and choose Exclude Selected.

I also wanted to mention that I checked our back end to see if we had any ongoing investigations for this concern, and we do not. With that being said, if you do not wish to exclude the transactions at this time, I recommend connecting with our Customer Care Team. They have the tools to review your account securely and look for the root cause of the problem to provide you with a timely solution.

To contact support, here's how:
 

1. In your QBO account, select Help (?).
2. Click the Search tab to get started:
3. Select Contact Us.
4. Type in your concern, then click on Continue.
5. Choose either Chat, Appointment, or Callback.

You can check this article to know our support team's availability hours: QuickBooks Online Support.

We appreciate your patience on this concern, @stephaniesheets86. Let us know how it goes with you, as it will significantly help other users who might also follow this thread. Take care!