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Bob B
September 19, 2019
Solved

Why can't QuickBooks Online match incoming bank transactions using the date?

  • September 19, 2019
  • 1 reply
  • 0 views

As I import transactions from each of my bank and credit card accounts, QuickBooks online presents me with many transactions to view where the only choice to be made to match it is what date it occurred.  Most times, it is the same date as the transaction itself.  Why can't QBO figure this out and not have me do all this extra useless work?

    Best answer by Becky29

    Thanks for the reply John.

     

    Well of course, I mentioned as much in my previous comment. But QBO matching makes a poor job of selecting the correct match (when date and name both match perfectly) and there is no setting for customers to tweak the matching.

     

    So QBO hasn't got a good matching algorithm and doesn't offer any customisation options to users so we can improve the situation. The official solution is "throw hours of manual labour at the problem".


    Hey Michael80, Matches are found by the system and it looks at the date, Account, and amount and this is not something that can be switched off. Any transactions that are the same/similar would appear to have more than one match found and you will need to select the relevant one. Appreciate this may be time-consuming to yourself, You could possibly look at setting up rules (we have included a help article on setting up rules here) so that it automatically adds them into QuickBooks for you. Becky

    1 reply

    G
    GeorgiaC
    September 19, 2019

    Hey Bob B,

     

    The banking feature searches for amounts and dates, if these match then this should automatically show as 'Match' on the action column of the Banking For-Review page.

     

    If the amount is different to the manual transaction, then you are able to locate a match by clicking into the transaction to review, selecting 'Find match' and searching transactions within a specified time frame. 

     

    Thanks

    B
    Bob BAuthor
    September 19, 2019

    The issue is that QBO's matching engine does not seem to search beyond the amount.  When there are recurring entries for the same amount, but different dates (like a monthly payment or transfer) it does NOT match the transaction, instead I have to manually match the incoming bank transaction to the right date, which is obvious as it matches the date of the incoming transaction.  This should be something the QBO matching engine should do and not make the user do.....when it is that obvious. 

      M
      Michael80
      May 26, 2020

      Unfortunately I have the same issue and reconciliation is a massive, laborious pain.

       

      I can't see the logic of suggesting a match which is 20 days away from the transaction, while an obvious match exists with the correct name and date.

       

      I contacted tech support and they verified that we have no control of how QBO recognised possible matches. They could just have a couple of settings of how tight we want the matches, I understand each business is different. But in online retail, you generally get payment on the same day and time as the order happens.

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