I know a way to match your invoice to your bank transactions in QuickBooks Online (QBO), @AT014.
Since there are charges incurred to the transaction, the option to directly match them to deposits won’t be available. That said, we can record the invoice payments and post them to the Undeposited Funds.
Once done, we can manually create a bank deposit to move the amount to its respective account. When creating a bank deposit, make sure to add the charges incurred in the Add funds to this deposit section to match this to transactions from your bank feeds. Here’s how:
- Tap the + New icon and select Bank Deposit.
- Under Select the payments included in this deposit section, mark check the invoice you recently recorded the payment.
- In the Add funds to this deposit dropdown, enter the deductions made or the charges incurred. Since these are a deduction from the original amount of the invoice, you can enter them in a negative (-) amount.
- Enter the additional details you have and make sure to select an Account from its respective column. If you’re unsure, you can consult your accountant for guidance.
- Then, click Save and new.
After that, let’s go back to your bank feeds to match the deposit from there to what you have recorded in QBO. I’ll show you how:
- In the For Review tab, locate the deposit and tap this to expand.
- Click the Find Match radio button to drill down all possible matches.
- From the Match transactions window, filter the dates that cover when you received or recorded the amount.
- Under the Suggested Matches, locate the deposit you recently recorded and mark it check.
- Lastly, click Save.
You can also consider consulting your account for other ways of recording the transactions.
Furthermore, learn to reconcile your account to keep your books accurate and prevent discrepancies.
Let me know if you have more concerns about linking bank transactions. The Community is 24/7 available to help. Have a good one!
