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greenl28
December 29, 2021
Question

Matching negative and positive transactions

  • December 29, 2021
  • 1 reply
  • 0 views

I've done at least two chats and one telephone call so far on this issue with no resolution.  It just ends with the support person timing out while allegedly searching for the solution, really frustrated that after waiting for an hour yesterday, the screen apparently timed out on support and they didn't come back.  This can't be an uncommon problem!  Here is example:

 

Credit card deposit into bank account includes 2 transactions, one for $2000 for a new sale and one for a negative $3000 for a refund, making the "deposit" actually a withdrawal from my bank account for negative $1000.  I need to match this transaction to the positive $2000 transaction and then do a credit memo for the negative $3000 BUT the positive $2000 doesn't even come up as an option to match to in banking?  How do I match to transactions that aren't being suggested?

1 reply

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Carneil_C
December 29, 2021

Hello, @greenl28. Thank you for reaching the Community.  I'd be happy to lend a hand with matching transactions.

 

To start, you can create a $2000 deposit to the credit card account in question. Then, create a $3000 check from the same account. 

 

You can match the $2000 deposit in the Banking tab. Manually match the $3000 check under your credit card account.

 

With regards to credit card accounts, transactions may be displayed in reverse. For example, deposits may appear as negative amounts.

 

To match transactions, you can use the Find Match tool and turn on Suggested Matches to see options that might match or you can use filters/searches to locate transactions. 

 

Here's how:

  1. From the Banking menu, select Banking and go to the For Review tab.
  2. Click the transaction and select Find match. If you can't find the match, click Find other matches.
  3. Turn on the Suggested Matches button. Then, look for the match transactions and check their boxes. 
  4. If the amount is a bit off, you can use the Resolve Difference option to add a resolving transaction. Scroll to the bottom of the table and click Resolve difference on the right.
  5. A second table appears. You might need to scroll down the page to see it.
  6. Complete the fields in the table to add the adjustment.
  7. Click Save.


Otherwise, I’d also suggest reaching out to your accountant to validate the transactions.

 

Additionally, I've attached an article you can read to learn more about matching downloaded transactions: Add and match online bank transactions in QuickBooks Online.  

 

Fill me in if you have other concerns in matching your transactions in QuickBooks Online. I'm always ready to help.

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greenl28Author
December 29, 2021

Thank you for your response, but I don't think you read my question correctly.  The transactions are in there.  They are are included as ONE transaction from my credit card company into my bank account.  The transactions I need to match are NOT showing up because the overall "deposit" is actually negative due to a refund on the card.  How do I match transactions that are not "suggested"?

RenjolynC
RenjolynC
December 29, 2021

Thanks for your prompt reply and for the details you've added, greenl28.

 

I'd also like to share some info about your situation.

 

If your bank only deposited the withdrawal amounting to - $1000, matching it to the two transactions recorded in QuickBooks is not possible. What you can do is exclude the - $1000 from the Banking page and manually clear the transactions in your register. 

 

To exclude, here's how:

 

  1. Go to Transactions > Banking.
  2. In the For review tab, put a check mark on the transactions you want to remove.
  3. Click the Exclude button.

Here's a sample screenshot for a visual reference:

 

 

After excluding these transactions, you can delete them in the Excluded section.

 

As for clearing the two transactions, you can follow these steps:

 

  1. From the Banking tab, click the Go to bank register link under the Update drop-down menu.
  2. Find the transaction you want to clear and select it to see the options.
  3. Under the Reconcile (indicated by a check mark) column, click the blank field until you see the letter C. This means Cleared and R is for Reconciled.
  4. Hit Save once done.

I've got this sample screenshot for a visual reference:

 

 

Once cleared, check your reports to see if you have the accurate figures. When you're ready to reconcile the account, you can watch a video tutorial through this link: Reconcile an account in QuickBooks Online.

 

To help manage your other transactions, this article will guide you with the process: Categorize and match online bank transactions in QuickBooks Online.

 

Please let me know if you have more questions regarding the steps I've shared above or need help with the other features in your account. I'll be right here to help you out some more. Take care and stay safe.

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