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L
Lpollock
July 18, 2024
Question

Bank Transactions vs Quickbooks data

  • July 18, 2024
  • 1 reply
  • 0 views

Hi all!

I am getting confused on what the bank feeds/ Bank transactions are vs what is from Quickbooks already entered. There's grey colored words there's blue words. I assume the grey is from the bank feeds and the blue is what is in QBO already? 

And do the bank feeds ever use QBO rules and change in the bank feeds info (the grey words)?

 

1 reply

M
Mark_AG
July 18, 2024

Hi there, @Lpollock.

 

Thank you for reaching out on the QuickBooks Community page! I'm here to provide you with information about the difference between bank feeds and QuickBooks records.

 

You're right! The colored grey words are from your bank's transaction, while the colored blue words are from your QuickBooks record. When you match a bank transaction to a QuickBooks transaction, they show different colors to differentiate where the transaction came from. I've provided a sample image below:

 

 

Moreover, QBO also has a rule feature that allows you to change your bank transaction information automatically. You'll need to set the bank rules first for the function to take effect.

 

Here's how:

 

  1. Go to the Gear icon and select Rules.
  2. Click New rule.
  3. Fill out all the necessary information to apply the rule to specific transactions.
  4. You can also hit the Test rule button to test the rule and see if it functions the way you want to.

 

After that, you can consider reconciling your bank account to match them to your QuickBooks records.

 

If you have any other questions or need further assistance, feel free to ask. I'm here to ensure your business needs are fulfilled.

L
LpollockAuthor
July 18, 2024

Thank you - but what if I don't want the bank transaction (the greyed words) to have a rule? It seems that is where things are getting messed up. I'd expect the bank transaction to be AS is on the bank and not added by any rule. Is there a way to stop rules that change the actual BANK info that is loaded up?

 

A
AbegailS_
July 18, 2024

Thanks for getting back to us, @Lpollock. 

 

I'll share some information about your concern, along with the steps to fix it. 

 

Since QuickBooks Online (QBO) relies on the bank data that is provided through your bank feeds, it's important to be cautious about any automated rules or categorization that could potentially modify the original transaction details.

 

If you're finding that the rules and settings in QBO are altering the bank transaction information in a way you don't want, the best approach is to deactivate those automated features To begin, here's how:

 

  1. Go to the Banking tab.
  2. Select Rules.
  3. Click the drop-down arrow to the rule you want to inactive or disabled.
  4. Choose Disable or Delete options.

 

If you want to delete the banking rule, click the Yes button to confirm the action.

 

For more details about bank rules, see this article: How to Set and Use Banking Rules for Downloaded Transactions.

 

I'll be attaching these articles that will guide you in categorizing transactions and the reconciliation process: 

 

 

Let me know in the comments if you have any other questions besides working with banking rules. I'll be around to help you out.

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