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tt24
Level 2

Reconciling manual deposit entry

Hi

 

My bookkeeper entered deposits manually and then reconciled them with the bank feed. These entries show up with the symbol R in the Chart of Accounts.

 

However, the transaction tab still shows similar entries as UNREVIEWED. When I click FIND MATCH, there is no matching entry found. Should I just exclude such UNREVIEWED entries? Or delete the manually created deposit entries and start from the transaction view. If I do that I guess I see the two rectangle icons.

3 Comments 3
Catherine_B
QuickBooks Team

Reconciling manual deposit entry

Hello there, tt24.

 

Yes, you can exclude the bank downloaded transactions since the manually entered ones are already reconciled and we're unable to match them. To exclude, you can follow these steps: 

 

  1. Go to the Transactions menu and select Banking.
  2. Click the bank and select the transactions to exclude.
  3. At the top, click Exclude

However, if you want to match them, you'll want to undo the reconciliation and start over. For more details in handling your bank transactions, you can use these links: 

 

Keep me posted if there's anything else that you need help with. Take care and have a great day

tt24
Level 2

Reconciling manual deposit entry

Thanks, I was wondering what the difference between matching transactions via Transaction -> Banking and manually entering and reconciling transactions is. Doesn't seem to impact the balance sheet (or any report). Just wanted to know the long term impact. Is it so that matching transactions via Transactions -> Banking is recommended.

AlcaeusF
Moderator

Reconciling manual deposit entry

Hello @tt24,

 

I appreciate you for getting back to us here in the Community. Allow me to chime in and provide some clarification about the transactions in banking.

 

When you link your bank account to QuickBooks, it downloads transactions automatically in the system. To avoid any duplicates, the Match feature lets you link the data from banking with the one manually entered in QuickBooks.

 

This process is only optional. If you don't need to match downloaded information from your bank, you can exclude them from the For review tab.

 

In case you need the steps, here's how:

 

  1. Go to the For Review tab.
  2. Check the checkbox for each transaction you want to exclude.
  3. Select Exclude

 

However, if you haven't entered the transaction yet, you can select the Add option. You can also use it to save time from manually entering entries.

 

You can check this article for more details about how the online banking feature works in QuickBooks: Categorize and match online bank transactions in QuickBooks Online.

 

Fill me in if you have additional questions about the transactions in QBO. I'm always here to help. Take care always.

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