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February 26, 2023
Question

When receiving payments, and depositing them to my bank account, how do I keep from them occurring twice as income when Quickbooks syncs with my bank?

  • February 26, 2023
  • 1 reply
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1 reply

DHeraV
February 26, 2023

Welcome to the Community, @gary-stagrecords.

I'm here to share information on how to keep you from having duplicate transactions in QuickBooks Online (QBO) if your account syncs with your bank. 

If you have already received payments and recorded a bank deposit in QBO, you can directly categorize and match existing transactions to your downloaded bank statements to avoid duplications.

Here's how: 

Step 1: Download the latest bank and credit card transactions

1. On your QBO account, go to the Banking tab.
2. Then select Update.

Step 2: Review and categorize downloaded transactions

1. Go to the Banking tab.
2. Select the tile for the account you want to review.
3. Click the For review tab to start your review.

Step 3: Match transactions

All you have to do is make sure the match is correct:

1. Find a downloaded transaction with the Match option in the Action column.
2. Note the DateDescriptionPayee, and amount spent or received.
3. Select the downloaded transaction to expand the view.
4. Review the Matching records found in QuickBooks. This is the possible matching transaction you already entered in QuickBooks.
5. Select the link next to each match to get more details.
6. Make sure this is the correct match. In particular, review the Deposit toPayment method, and Bank account fields on forms for the existing transaction in QuickBooks.
7. If this is the correct match, close the open transaction.
8. Select Match.

For detailed information, kindly visit: Categorize and match online bank transactions in QuickBooks Online.


Moreover, I'll also share this article that can serve as your reference if you want to learn how to reconcile accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.


Feel free to leave a reply if you have additional queries about recording and managing transactions in QBO. The Community team always has your back. Have a good one!