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doorcountydi
June 18, 2022
Question

The point of "match" in banking

  • June 18, 2022
  • 2 replies
  • 0 views

I am rather new to QB Online and find it very frustrating.  In the banking module, what is the point of "match"?  It will tell me I have 3 matches--they'll all be $200, but totally unrelated to each other or what the account number should be or the purpose.  Or it will tell me I have matches for the same vendor but unrelated as to whether they get charged to the same place (like you have 2 Quill bills.... but one is split between worship supplies and office, the other is for kitchen or cleaning supplies).  I don't understand the reason for "match" or how it could possibly make adding information to the register any quicker or better.

2 replies

R
ReymondO
June 18, 2022

Good day, @doorcountydi.

 

Once you connect your bank and credit card accounts, QuickBooks automatically downloads the latest transactions. It looks for and tries to match them with transactions you've already entered into QuickBooks.

 

It's possible that you've created three transactions inside QuickBooks with the same amount ($200) as the downloaded transaction. This is the reason why the system tries to match them on your Banking page. 

 

Once matched, this will link them together so you don't get duplicates. All you have to do is make sure the match is correct. That way, they'll be posted to the correct bank accounts in your register.

 

For more info, you can check out this article: Categorize and match online bank transactions in QuickBooks Online.

 

Once done, you can now perform your monthly reconciliations. This way, we can ensure that your accounts match your bank statements.

 

Please let me know if you need further clarifications with regards to categorizing your downloaded banking transactions, @doorcountydi. I want to make sure you're everything is clear on your end. Have a good one. 

Markus
Markus
June 18, 2022

The point of the match is there so you do not duplicate entries. For example if you entered and paid a bill for $100 for office supplies, once the check is cashed and it comes across in the bank feeds it will say it found a match which it would be the check that you wrote. If you ignore that and enter the transaction in the bank feed you will have office supplies for $200 in your account. 

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