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KZ2018
January 24, 2022
Question

Matching bank transaction to multiple journal entries

  • January 24, 2022
  • 1 reply
  • 0 views

I use Quickbooks Online. Our payroll company made an error and refunded us for a portion of our last tax payment. Our payroll process is to print out the payroll report from our payroll company and record the payroll in QBO via journal entries. I have journal entries for this refunded amount (it is comprised of a debit to our bank account and a credit to our bank account resulting in a net debit). When I try to match the refund amount to the journal entries, QBO never shows the 2 journal entries I need to match; it shows other ones. What do I do? I have checked and the 2 journal entries have shown up in my bank register, so the refund is there - I just can't match it to the refund from the bank feed. Thanks for any assistance.

1 reply

AlcaeusF
AlcaeusF
January 24, 2022

Hi @KZ2018,

 

Welcome to the Community. I can help you match transactions in bank feeds to your journal entries.

 

There are times that some of the transactions can’t find their match from existing records. Details from the downloaded data and the journal should match to ensure it shows up.

 

Here are the possible reasons:

 

  • The payees don’t match
  • The amounts don't match
  • The dates don't match or is not close
  • The transaction is older than 6 months.
    Tip: You can still find a match when you select the Find match section
  • The bank account on the payment is not the same as the bank where the match is located
  • The payment has been reconciled
  • The transaction is already matched to something else
  • There’s a multi-currency issue with the exchange rates

 

Please make sure to choose the correct date range for the transactions. It'll help the system find the journal entry from the register.

 

Here's how:

 

  1. Go to Banking, select the transaction, and click Match.
  2. From the Match transactions page, select Journal Entries under Show drop-down.
  3. Make sure the From and To date are correct.
  4. Locate the journal entry, check, then Save.

 

Also, you can use this article to review added transactions or unmatch them in QuickBooks: Categorize and match online bank transactions in QuickBooks Online.

 

Please let me know if you need more assistance matching transactions in bank feeds. I'm always willing to lend a hand.

K
KZ2018Author
January 26, 2022

Hi,

Thank you for the info. Unfortunately, none of that worked. I don't know if it was because I had to match the combo of a debit entry and a credit entry (which resulted in a net debit) and QBO wasn't able to see the linkage. I ended up netting out the amounts in the journal entry rather than writing them as 2 separate entries. That worked and allowed me to match it with the bank feed.

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