cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

How to match tax payment with bank feed (three transactions).

Hello,

 

I'm trying to match recorded tax payment with bank feed (made as 3 transactions) with no luck. If someone could point out what I'm missing or tell me how to make it happen I would really appreciate it.

 

1. I recorded the tax payment:

- checking account

- correct date

- correct total amount

a.png

 

 

2. When I go to bank feed, select checking account and click "Find Match", there are no matching transactions.

 

b.png

Solved
Best answer April 27, 2019

Best Answers
Highlighted
Level 10

How to match tax payment with bank feed (three transactions).

@Daniel01 

 

Record sales tax payment (per screenshot #1) is $2,488.15, whereas bank feed screen #2 shows $1,131.87. Why difference?

 

If you're trying to match downloaded transaction with a difference (for some reason), you would need to click "Resolve difference" radio button, and enter the difference on "Add resolving transactions" section below.

 

Or if you have made multiple separate tax payments, you will need to enter the same way to match with bank feed.

View solution in original post

4 Comments 4
Highlighted
QuickBooks Team

How to match tax payment with bank feed (three transactions).

Hi there, Daniel01.

 

Here are some possible reasons why you can't find the transactions to match what you have recorded in QuickBooks.

  • Transactions are already reconciled.
  • Transaction was matched to another downloaded transaction.

To check if the transaction is reconciled, you can follow these steps:

  1. On the left panel, click Accounting.
  2. Select the Chart of Accounts tab.
  3. click the View register link of the bank account where the transaction is recorded.
  4. Find the transaction and check to see if it's reconciled (Indicated by the letter R).

If the reconcile status shows R, you can undo it, but I'd recommend reaching out to your accountant before doing so. To undo a reconciliation affects the report balances. 

 

Instead, you can exclude the transaction in the banking section and leave the reconciled one as it is. Please see this article: How to exclude expenses from downloaded bank transactions.

 

The In QuickBooks tab will tell you if a transaction has been matched to another downloaded entry.

 

You can also check this article for more information: Add and match downloaded banking transactions.

 

Feel free to reach out to us if you have other questions or concerns. Thanks.

Highlighted
Level 10

How to match tax payment with bank feed (three transactions).

@Daniel01 

 

Record sales tax payment (per screenshot #1) is $2,488.15, whereas bank feed screen #2 shows $1,131.87. Why difference?

 

If you're trying to match downloaded transaction with a difference (for some reason), you would need to click "Resolve difference" radio button, and enter the difference on "Add resolving transactions" section below.

 

Or if you have made multiple separate tax payments, you will need to enter the same way to match with bank feed.

View solution in original post

Highlighted
Level 2

How to match tax payment with bank feed (three transactions).

You are awesome, vpcontroller. Thank you so much for your help!

 

I didn't know I could record the tax payment as three separate payments - I recorded it as total and then it didn't match in the bank feed. As soon as I recorded it as three separate payments everything works just fine.

Highlighted
Level 2

How to match tax payment with bank feed (three transactions).

Thank you for your help, RenjolynC.

Need to get in touch?

Contact us