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O
OP39
September 30, 2020
Question

Payment and matching

  • September 30, 2020
  • 1 reply
  • 0 views

Hi all, please can someone help me out.

 

I have imported some vendors with an opening balance.  I have then imported the bank transactions that have happened a month or two later.  There is a payment that relates to a vendors opening balance, I am unsure how to put the payment on the vendor account so that I can match it in the bank reconciliation list.

 

Please please please any help would be great.  The only thing I can see is to write a cheque option on the vendor tab.

 

Thanks

 

 

1 reply

A
Ashleigh1
September 30, 2020

Hello OP39, 

 

Welcome to the Community page, 

 

Yes you can do a cheque as you will be able to match a payment to their opening balance of there were outstanding payments 

O
OP39Author
September 30, 2020

Thanks for that, but when I go to write cheque why is it asking category, what do I put in there?  Surely it knows the double entry of between bank and creditors account.

MaryLandT
MaryLandT
September 30, 2020

I can help put the cheque on the vendor's profile, OP39.

 

You'll want to use Creditors for the category to put the payment to the vendor's profile. Doing this will allow you to link the cheque to the opening balance of the vendor.

 

Let me show you how to accomplish this:

 

  1. Use Creditors when writing a cheque.
  2. Open the vendor's opening balance by clicking the Make payment link under Action.
  3. Choose the account where you want to record the payment.
  4. Mark the bill and the check, then click Save.

For the downloaded transaction on your banking feeds, you can then match them. Just make sure the dates and other bank details have the same information as the opening balance.

 

If not, you won't be able to match them. When this happens, you'll want to exclude those downloaded payments. Anyway, you've already recorded the payment by writing a cheque.

 

Here's how to exclude them:

  1. Go to the For Review tab.
  2. Check the box next to each transaction you want to exclude.
  3. Select the Batch action drop-down menu, and then mark Exclude selected.
  4. Excluded transactions move to the Excluded tab. They won’t be added to QuickBooks or downloaded again.

Feel free to read through this article: Categorise and match online bank transactions. It shows you how to review bank and credit card transactions you've downloaded to QuickBooks.

 

Let me know if there's anything else you need by commenting below. I'm always right here to help ensure you have accurate records on your register.

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