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Level 1

After uploading bank transactions and recognizing their category, especially for sales received, how to match that transaction with what product/service sold?

For first time user, first we will upload our previous bank transaction, then we categorize the transaction. 

1) Do we need to create new invoices for all previous sales transaction? So that the inventory will be updated too.

2) How to match the uploaded transactions to the invoice? 

My point is, I want the uploaded transactions synchronised with the inventory record, sales report and P&L.

2 Comments
Level 15

After uploading bank transactions and recognizing their category, especially for sales received, how to match that transaction with what product/service sold?

@ sharifah

1) Do we need to create new invoices for all previous sales transaction? So that the inventory will be updated too.

If there are only a few sure go ahead and do that, then you have some customer history too.  But if there is a bunch, just use inventory adjust, set the adjusting account to COGS and lower the qty of the item previously sold.  That will get you current.

Then the work flow in QB is and has always been, enter transactions, download banking, match.

Yes inventory is only reduced when sold on a sales receipt or invoice.


Moderator

After uploading bank transactions and recognizing their category, especially for sales received, how to match that transaction with what product/service sold?

It's nice to see you, @sharifah_nr!

 

You'll want to create your invoices manually then match them to your downloaded transactions. This way, you can track your inventory accurately.

 

Firstly, your downloaded transactions don't affect your inventory tracking directly. Thus, manually adding your invoices allow QuickBooks to track your inventory accurately. To do so:

  1. Go to the Plus icon.
  2. Under Customers, select Invoice.
  3. Enter the information as necessary.
  4. Click Save and close.

After doing so, you can now go back to your downloaded transactions and match them to your invoices. Let me show you how:

  1. Go to Banking.
  2. Under Bank and Credit Cards, select your bank or credit card account.
  3. Below the For Review tab, find your downloaded transaction.
  4. Click Find Match.
  5. Select the invoice from the list with the same amount and date of your downloaded transaction.
  6. Click Save.

Additionally, here's a couple of articles you can read to learn more about the steps:

If there's anything else that I can help you with, please let me know in the comments. I'll be always around ready to help.