Why are Customer Credit Card Payments Not Matching With Bank Feed Deposits Since Update?

dnmh · ‎December 08, 2023

Prior to the recent QBO update, when our customers would pay us by credit card or ACH, QuickBooks Payments would make lump sum deposits into our account that might include 5 or more individual customer payments from that day. Then, when the deposit itself hit our bank feed and sync'ed back over to the Banking module/bank register in QBO, QBO would recognize the applicable individual deposits that corresponded to the overall deposit amount and automatically match them/link them to the deposit.

Since the update, QBO has stopped auto-matching QB Payments deposits to the individual Invoice Payments received that are included in the deposit. We now have to go back through our records (or track down and print out the remittance breakdown from QB Payments) and manually select the Invoice Payments that correspond to the bank deposit received.

Please tell me that this is a setting that I can update where somehow the toggle switch got flipped in the update, and that I can turn this auto-matching back on, and not a step backwards in QBO functionality?

Jelayca V · ‎December 08, 2023

I understand that you are facing some inconvenience and I'm here to help you out, dnmh.

QuickBooks offers an automatic way of matching your bank deposits that correspond to QuickBooks Payments transactions. This will save you a lot of time and effort that would have been required if you had to match them manually.

To turn on or off automatic matching, please follow these simple steps:

Go to Transactions, then Bank transactions.
Select the Categorized or For reviewed tab.
Select the mini-Settings icon at the top of the transaction list.
Turn the Automatic matching switch On or Off.

However, please note that automatic matching may not be available in all accounts yet. The Automatic matching setting will apply to all transactions you create through QuickBooks products like QuickBooks Payments and QuickBooks Bill Pay. However, if QuickBooks is not able to automatically match your transactions, you will have to manually match the bank transactions.

When automatic matching is off, you’ll need to manually match new deposits to the correct invoices. Be sure to double-check your matches.

It is also important to note that QuickBooks Payments account is subject to eligibility criteria, credit and application approval. Subscription to QuickBooks Online (QBO) is required. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.

You can visit this article for more details and information: Automatic matching for QuickBooks Payments

Furthermore, we have some helpful articles that might be useful to you in the future: Categorize online bank transactions in QuickBooks Online

Don't hesitate to reach out to us if you have any further questions about automatic match transactions in QBO. I'll always be here to assist you. Best regards.

dnmh · ‎December 11, 2023

Hi there! Thanks for the quick response! We followed your suggested steps and discovered that the Automatic matching switch was already set to On. Is there a bug in the system that QBO is aware of and was working on?

SheandL · ‎December 11, 2023

The effort you've made is greatly appreciated, @dnmh.

I understand it's crucial to resolve the issue of credit card payments not matching your bank feed deposits. Since the issue persists, I encourage you to contact our customer care team. They have the expertise and tools to address your concerns thoroughly.

To reach out to our support team, here's how:

Sign in with your QuickBooks Online company.
In the upper right corner, click on the Help icon.
Select Search, then click Contact Us.
Write your issue or concern and Continue.
Select what support you would like to contact.

You can use bank rules to categorize transactions from your bank automatically. You can read this article to learn how: Set up bank rules to categorize online banking transactions in QBO.

The Community space is always here if you need further assistance matching your credit card payments with your bank feed deposits. We're just one reply away.