Learn how to add and match transactions you downloaded into QuickBooks.
|This article is a part of a series about Bank Feeds in QuickBooks for Desktop.|
There are two Bank Feeds modes available in QuickBooks Desktop. Each mode displays and handles transactions in the Bank Feeds differently.
Learn more about switching between banking modes in QuickBooks Desktop.
Get downloaded transactions
- To start go to the Banking menu.
- Select Bank Feeds and then Bank Feeds Center.
- Review how QuickBooks categorized the transactions:
- (Need Your Review) Unmatched: The downloaded transactions don’t match any transaction in the related account in QuickBooks.
- (Changed By Rules) Renamed: QuickBooks created a new transaction using renaming rules. The downloaded transaction doesn’t match any transaction in the related account in QuickBooks. But one of the renaming rules created a new transaction ready to be added to the register.
- (Auto) Matched: QuickBooks found a match between the downloaded transaction and one already in the related account in QuickBooks.
Match downloaded transactions
QuickBooks tries to match downloaded transactions to any entries that are already in the related account. If it can't find a match, QuickBooks tries to create a new transaction for you automatically. Review the matches before adding them to the register.
|QuickBooks looks at the following when it tries to match:
If you know there's a matching transaction in QuickBooks, make sure you make the connection. Otherwise, the transactions downloaded from your bank won't have a match and will remain pending. You need to make the match, even if the payment been processed by your bank yet.
If you agree with the match QuickBooks made, you don't need to do anything else to the transaction. The matches will be made and added to the account register when you select Finish Later.
If you don’t agree with the match, unmatch the transactions. The status of the downloaded transaction will change to Unmatched.
Can't find a match
There are times when QuickBooks can't find a matching transaction for one downloaded from your bank. Here's what to do:
- If transactions are too new, you may not have entered them into QuickBooks yet. If this is the case, enter the transactions into QuickBook. This should change the status of the downloaded transaction to Matched.
- The transaction that exists in QuickBooks could have a different transaction number, amount, date, or payee from the downloaded transaction. If this is the case, find the transaction in QuickBooks. Make edits based on your bank records. Doing this will change the status of the downloaded transaction to Matched. Important: Only do this if you know you've found the exact match in QuickBooks.
- If a downloaded transaction matches an already reconciled transaction, QuickBooks won't match them. The reconciled transaction has a checkmark in the CLR column.
- Although rare, there are occasions when QuickBooks downloads duplicate statements or transactions. If transactions were downloaded to QuickBooks and have a lightning bolt in the CLR column, the transactions won't be matched again. Even if all the transaction number, amount, date and payee name are exactly the same, QuickBooks won't match them.
How to review downloaded transactions
Are the transactions already entered in QuickBooks?
How were the transactions entered?
Do you have recurring transactions or multiple transactions with the same amount and date?
Do you want to create Renaming Rules for commonly downloaded transactions?
Do you need to undo incorrectly renamed transactions?
Do you need to delete unmatched transactions from your Bank Feeds