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A
annerich
June 16, 2023
Question

Matching Bank Deposits to lines in a Journal entry.

  • June 16, 2023
  • 2 replies
  • 0 views

Is it possible to match a downloaded bank deposit to lines in a journal entry? I record daily sales as one large journal entry and the cash and credit card deposits two of those lines. Is there a way to match those lines to the bank deposits? I can clear them manually during reconciliation but was hoping to save time by being able to match them from banking.

2 replies

AlcaeusF
AlcaeusF
June 16, 2023

Hi there, anne.

 

I'm here to share information about matching bank deposits in QuickBooks Online (QBO).

 

Currently, the option to match downloaded bank transactions or deposits to a specific line item on a Journal Entry (JE) is unavailable in QBO. You can only match them with the entire JE.

 

I can see how having this option would be helpful for you and your business. We'd love to hear your input. I recommend leaving feedback to notify our engineers about the feature you need. This way, they can consider adding it in the future updates.

 

Here's how to send feedback:

 

  1. In QBO, click the Gear icon at the top, then Feedback.
  2. Enter your comments or product suggestions. Then select Next to submit feedback.

 

You can track feature requests through the QuickBooks Online Feature Requests website.

 

For more information about managing and matching bank transactions in QBO, consider checking out this article: Categorize and match online bank transactions in QuickBooks Online.

 

I also recommend performing a reconciliation in a regular basis to ensure your account is balanced and accurate. You can refer to this article for future reference: Reconcile an account in QuickBooks Online.

 

Please leave a comment below if you have more questions about this or anything else. I'll be here to help. Take care.

C
CJG1964
July 7, 2023

We have a similar issue, and an additional question. 

 

We use a POS that nightly, exports summary data to QBO via a Journal Entry to capture cash, checks, credit cards and charges.  If we cannot match a deposit to a journal entry line item (checks and cash), what then do we do to clear the downloaded banking transaction? 

 

Thank You

Chris 

L
LeizylM
July 7, 2023

I can show you how to delete the transactions uploaded from your bank account in QuickBooks Online (QBO). 

 

You can tick the box and then use the Exclude option in QuickBooks Online to delete all your downloaded bank transactions.

 

Here’s how:

 

  1. Go to Banking from the left menu bar.  then go to Banking.
  2. Click the bank account.
  3. In the For Review tab, tick the box and click Exclude.

 

For more information on removing transactions, you can refer to this resource: Exclude a bank transaction you downloaded into QuickBooks Online.

 

I've added a link you can check. This will show you how to review and categorize the downloaded bank transactions: Categorize bank transactions in QBO. 

 

Keep us posted if you still need help with your banking transactions. The Community is always here for you. Have a great day!

A
agclifton
February 18, 2024

Has there been an update on this feature? I have the same issue where I trying to reconcile PayPal statements. The deposit shows on the checking account but I wanted to know how to match the deposit with a journal entry. Perhaps I should just trying importing a separate csv with only the deposit?

R
RhoiceW
February 18, 2024

Thank you for participating in this thread, agclifton. I'm here to provide more information about matching bank deposits in QuickBooks Online (QBO).

 

Normally, we can match a journal entry to a downloaded deposit if the entry represents a money-in transaction and is of the same amount and date as the downloaded deposit. I suggest that you double-check the amount, date, and debit account of the journal entry to ensure it is indeed a money-in transaction for your checking account.

 

Here's how:

 

  1. Go to Transaction, then select Bank transactions.
  2. Choose the account that you want to match with.
  3. Under the Assign to column, click the drop-down arrow, then tap Match.
  4. Look for the Journal entry, then hit Match.

 

I'll leave this article for you to have more detailed steps in matching bank transactions: Match online bank transactions in QuickBooks Online

 

However, if you mean matching the deposit to a specific line to a journal entry, it isn't currently possible in QuickBooks Online (QBO). I suggest sending a feature request to our product developers to let them know about your request.

Here's how:
 

  1. Sign in to your QBO account.
  2. Click the Gear icon at the top, then Feedback.
  3. Enter your comments or product suggestions.
  4. Press Next.


Once done, our designated team will review it. You can track your future requests through the QuickBooks Online Feature Requests website.

 

Regarding your concern, it isn't necessary to manually import a CSV file with only the deposit transaction. We base our records on the downloaded transactions and make adjustments as necessary in QBO. In this case, a journal entry was recorded. 

 

In addition, you can check out this article to learn what to do if QuickBooks Online doesn't match your bank statement at the end of a reconciliation: Fix issues at the end of a reconciliation in QuickBooks Online

 

If you have further concerns with matching your bank transactions, feel free to leave a comment. I'm always here to help you. Take care.

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