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.
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.
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:
Go to the For Review tab.
Check the checkbox for each transaction you want to 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.