Skip to main content
M
Michelle0531
December 20, 2022
Question

Customer payments

  • December 20, 2022
  • 1 reply
  • 0 views

Good morning,

We have our checking account linked to QBO.  Does it matter if I receive the payment, then match the deposit when it comes through or if I don't receive the payment and then just match the deposit when it comes through to the invoice?  

Thank you!

1 reply

JaeAnnC
JaeAnnC
December 20, 2022

Good to see you here in the Community, @Michelle0531. I'm here to share my insights about matching transactions in QuickBooks Online (QBO).

 

Whether we receive the payment or not, we're still able to match the deposits in our bank feeds. After linking your bank account, QBO automatically downloads the newest transactions and sends them to the For review tab. We'll review them one-by-one, and match the deposit, so we don't get duplicates. 

 

Here's how:

 

  1. Go to Banking and select Banking.
  2. Select the Checking account.
  3. In the bank feeds, select a transaction you'd want to match.
  4. Select Find match.
  5. In the Match transactions page, select the type of transaction in the Show dropdown and enter the date range.
  6. Check the box for the transaction you want to match, and select Save.

 

If you haven't received the payment and matched the invoice to a deposit, the invoice will be marked as PAID. 

 

In addition, we can create rules to categorize transactions automatically in QBO. This way, it speeds up the review process and saves time. The more often we use bank rules, the better it gets at categorizing. It can eventually even scan transactions and include details like payees.

 

Feel free to leave a comment below if you have clarifications with matching transactions in QBO. We're always around to assist you. Stay safe, and enjoy your day!

M
Michelle0531Author
December 21, 2022

Thanks for your response!  I do realize how to categorize, but I am unsure why there are two ways to handle the customer payments?  It would seem best to have one correct way to handle them.

C
Carneil_C
December 21, 2022

I appreciate you for getting back on this thread, @Michelle0531.

 

I'll chime in and lay out some details to clear things up for you about handling these transactions in QuickBooks Online.

 

When you've signed up for QuickBooks Payments account to handle customer payments, you don't have to receive the payments as well as categorize them manually. QBO automatically matches them for you. Thus, it increases the accuracy of your books.

 

In such cases, QuickBooks may not automatically match the transactions and leave it to you to manually categorize them from the bank feeds. To do so, you can follow the detailed step-by-step guide from my colleague JaeAnnC above.

 

You might want to consider checking out this article for more insights into organizing your transactions seamlessly: Categorize and match online bank transactions in QuickBooks Online.

 

When everything is all set, here's a handy resource to reconcile your accounts in the future: Reconcile an account in QuickBooks Online.

 

Do you require additional assistance with QB Payments? Please don't hesitate to include them in your response. I'll be right here to answer them for you. Keep safe!

Terms & ConditionsAccessibility statement