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gkoroluk-treelin
October 18, 2023
Question

Quickbooks Online is pulling the Transaction Date from my Chase bank account, instead of the Posted Date. This is causing end of month reconciliation issues.

  • October 18, 2023
  • 2 replies
  • 0 views
For example, if one of our employees charges an expense on their bank card on 9/30, but the charge doesn't post to the account until 10/1, QBO is using the 9/30 date, even though the transaction has not hit the bank account yet.  I believe QBO is pulling the wrong date from Chase in the interface.  They should be pulling the posted date (10/1) instead.

    2 replies

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    gkoroluk-treelinAuthor
    October 18, 2023

    From looking at other posts in the community forum, it looks like this issue may have started in July 2023 (or around then).  That seems to line-up with our experience as well.  We did not have these reconciliation issues previously.

    DHeraV
    DHeraV
    October 18, 2023

    I appreciate you providing details of your concern in the Community space, gkoroluk. Let me share some information regarding the transaction dates in QuickBooks Online (QBO).

     

    It is common for the transaction dates to vary since QuickBooks records transactions in real time, but banks may have a different timeline for when they clear transactions. However, it is advisable to use your bank statement as a basis while reconciling your accounts in QuickBooks.


    It is important to include transactions in their respective months when reconciling your QuickBooks account. If a transaction is recorded with the previous month's date but falls on the next month, you must include it in the correct month's reconciliation. This way, you can ensure that your reconciliation matches the transactions on your bank statement accurately.

     

    Moreover, you may want to explore this article to learn what to review so you can start reconciling: Fix issues for accounts you've reconciled in the past in QuickBooks Online.
     

    Keep me in the loop by leaving a comment below if you need further assistance or have any additional banking questions.

    4
    45256
    December 14, 2023

    Is there anyway to fix this issue. I spend hours reconciling an account every month with 1500 transactions and there is no science of which days are correct. I end up going through each transaction mannually which takes so much time to find which transactions should not be included in that statement. 

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      anoopjohn
      March 14, 2024

      I can confirm that this is happening for transactions that are pulled from bank of america credit card statements as well. QBO is pulling transaction date while bank statement includes the transactions into different statements based on posting date.

        DivinaMercy_N
        DivinaMercy_N
        March 15, 2024

        Hi there, @anoopjohn.

         

        QBO does not have control on what transactions are downloaded when a bank is connected to it. The program is only dependent on what your financial institution shares with us. If you want to change how entries are downloaded, you can reach out to them to help you update the connection process. 

         

        For more information, read this article: Download the most recent bank and credit card transactions in QuickBooks Online.

         

        When transactions are in, your next step is to match and categorize them to ensure they are allocated to the correct account in QBO. 

         

        Additionally, its best to refer to your bank statement to make sure you add and reconcile the actual transactions you process in real life. 

         

        Please don't hesitate to leave a reply below if you have any other concerns managing your transactions. I'll be here ready to provide additional assistance. Have a good one. 

        A
        anoopjohn
        March 15, 2024

        Are you explaining that the end user should negotiate with the bank on whether they send posted date or transaction date to QuickBooks when QBO pulls data from the bank?

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