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PalmParrot
February 9, 2023
Question

Connected and Downloaded Venmo Transactions, Now What?

  • February 9, 2023
  • 1 reply
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I have connected and downloaded Venmo transactions. I have booked all the Venmo items in my checking account as a transfer to the Venmo account. Now what do I do? It seems like there should have been a positive receiving entry in Venmo for the transfer but there is not. There is nothing to match the transfer from Checking. What am I doing wrong? One workaround would be to manually add a positive transaction in the Venmo account and then match all the checking entries. I could build a CSV file with all my past transactions easy enough and match them one at a time but then from now on every time I have a Venmo draw from Checking I will have to manually post a matching transaction in the Venmo account. It doesn't seem like the Venmo integration was designed around the way Venmo works as it only draws from Checking when the Venmo balance is lower then the Venmo draw. Is there a better workaround or am I missing something?

1 reply

Adrian_A
Adrian_A
February 9, 2023

Hello there, PalmParrot.

 

I'm here to share more information about connecting your bank and Venmo account, and why transactions don't match.

 

When you connect both your Venmo and bank accounts, the downloaded transactions will duplicate. To ensure that the transactions match with the other, you can either disconnect your bank or your Venmo account. Before doing so, you'll have to exclude and delete the duplicate transactions (of whichever account you want to disconnect).

 

Here's how:

 

  1. From the Banking tab, select Banking.
  2. Select the transactions under For review.
  3. Hit Exclude.
  4. Go to the Excluded tab.
  5. Select the transactions.
  6. Click Delete.

 

If you want to disconnect the account, you can browse this article for the detailed steps: Disconnect bank account.

 

I've also added this reference as your guide in matching transactions: Categorize transactions.

 

Keep me posted whenever you have questions about matching transactions.

P
PalmParrotAuthor
February 10, 2023

That seems more like a workaround rather than a solution. If excluding transactions will then make it not balance that introduces another problem. Quickbooks does not handle Venmo correctly. For past records I was able to create a csv file with positive values and import it into Venmo, then match all the Checking transactions to the added positive corresponding entries in Venmo. I will just continue do my workaround adding a positive record in Venmo to match each transfer from Checking.

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