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dkrumholz
September 5, 2022
Question

Bank Matching For Multiple GL Accounts

  • September 5, 2022
  • 1 reply
  • 0 views

I want to match a bank feed transaction to multiple GL accounts and specify the amount for each account. Can a rule do that? If not, what is the best way to do that?

1 reply

L
LollyNino_C
September 5, 2022

Hello there, @dkrumholz. I can share a few ideas on how to handle your bank transactions in QuickBooks Online. 

 

In QuickBooks Online, we can match a bank transaction to multiple recorded entries. However, we're unable to do it the other way around in your case please follow the following steps: 

 

  1. Go to Bookkeeping, select Transactions, then select Banking. 
  2. Select the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Select Exclude.

 

Now, set up the auto-add feature so you can get the rule to apply automatically. To proceed, here's how:

 

  1. Go to the Bank transactions page.
  2. Follow the steps to create a new bank rule.
  3. Click Automatically confirm transactions this rule applies to in the Rules window.
  4. Select Save.

 

After you create an auto-add rule, any transactions on the For Review tab that meet the conditions are automatically added. Auto-add rules run when you sign in, upload a file, or create or modify a new auto-add law.

 

I've got a great article for you that provides additional details on excluding transactions. You can view it by clicking this link: How to exclude expenses from downloaded bank transactions?

 

Additionally, I've attached an article you can use to reconcile your accounts so they always match your bank and credit card statements: Reconcile an invoice in QuickBooks Online.

 

Fill me in if you have further concerns about bank transactions in QuickBooks Online. I'm always eager to help you out. Stay safe!

D
dkrumholzAuthor
September 6, 2022

Perhaps I should present the problem for a suggestion on how to solve it rather than inquiring about specific QB Online features. Each month I pay an invoice of a different amount from a vendor that needs to hit six different expense accounts. The disbursement comes in on a bank feed. After the payment it made I need to hit each of the six accounts with the amount applicable to each account. What is the best way to handle that transaction?

Thank you!

 

M
Mark_R
September 6, 2022

I appreciate your prompt reply, @dkrumholz. I'm here to provide additional information about your concern with matching transactions and help you from there.

 

I can see that you want to match your bank transactions to a specific amount for each GL account. As mentioned by my colleague above, QuickBooks can only match one bank transaction to multiple entries, not to GL accounts.

 

In this case, I recommend seeking help from your accountant to properly record this on your QuickBooks account. They'll guide you on the best way to handle this transaction based on your recording practices. If you don't have an accountant, you can find one through this website: Find-a-ProAdvisor website.

 

You may want to learn more about setting up bank rules in QuickBooks Online. You can check out this article for the detailed steps and information: Set up bank rules to categorize online banking transactions in QuickBooks Online.

 

Our Community forum is always open to help you again if you have other questions with QuickBooks. Have a great day.

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