Skip to main content
October 22, 2024
Question

Matching 1 bank transfer to 2 bank transactions

  • October 22, 2024
  • 1 reply
  • 0 views

Hi 

I transferred a lumps amount from the business operating account to the business savings account. (we have just changed banks) The bank mixed up our personal savings account # with the business account #, so the funds were essentially taken out of the business. I transferred a portion of the funds back into the business savings account.

I completed a journey entry showing the original transfer out of the operating account and 1 transfer into business savings and 1 personal investment.

How can I reconcile with the bank transactions ? 

1 reply

October 22, 2024

Hi there, Daphney.

 

I appreciate you for bringing up your concern about matching your bank transfer with two bank transactions in QuickBooks Online (QBO) and sharing the process you've performed to track the transfers in the program.

 

To ensure that your financial records are correct, we highly recommend consulting with an accountant who can guide you in properly matching the entries in QBO. They can provide valuable insights and expertise on how to match your financial transactions and balance your accounts accurately. They can also assist you in reconciling your accounts.

 

If you don't have an accountant, I recommend following the steps below to find an expert near you:

 

  1. Visit our Find an Accountant page.
  2. Click the Find a ProAdvisor button.
  3. Add the necessary details under the Location, Service provided, Industry served, and Product supported fields.
  4. Select the expert you want to work with.

 

Once the transactions are matched accurately, you can check out this article to review your accounts in QuickBooks to ensure they match your bank and statements: Reconcile an account.

 

We want to assure you that we are always available to offer assistance and guidance if you have additional questions or concerns about the reconciliation process. Please don't hesitate to reach out to us. We are here to support you through each step of the way.