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ChrisD55
September 3, 2019
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Adding a bank feed to an account that was manually input?

  • September 3, 2019
  • 2 replies
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Hi,  

 

I have 2 accounts that have been manually input in the past.  I'd like to either add the bank feed or start uploading from CSV from 1/7/19.  

 

My question is regarding the transactions that are already input ie. all of the bills that have been input and paid from these bank accounts.  Will these be doubled up?  Or will they now be able to be reconciled as normal when the bank feed is connected or the CSV uploaded?  

 

Any other issues I may need to be aware of?  

 

Thanks

Chris  

Best answer by Bonny_

Hi ChrisD55,

 

If you connect a bank account or upload a CSV file, the transactions will show up in the For Review section of Banking. Since you have been manually adding payments and bill payments in QuickBooks, these bank transactions will likely show a Match to a current QuickBooks transaction. You will have to ensure that the transactions are matched up correctly. 

 

The transactions will only double up if you select Add instead of Match for the transaction on the For Review section, while that specific transaction has a manual QuickBooks transaction. In case you don't see the Match link under the Actions column, simply click on the transaction and select Find Match, which will bring up manually entered QuickBooks transactions that you can match to. 

 

Connecting the bank account or uploading a CSV file will also make reconciliation much simpler, as matched transactions will automatically be opted in as 'partially reconciled' to the specific period's reconciliation. In the reconciliation screen, you will also be able to see manually added transactions that aren't matched to a bank transaction, and use this information to figure out if this manual transaction is a duplicate, or to figure out if you've missed creating a manual transaction.

 

Hope this helps!

 

Bonny

2 replies

Bonny_
Bonny_Answer
September 4, 2019

Hi ChrisD55,

 

If you connect a bank account or upload a CSV file, the transactions will show up in the For Review section of Banking. Since you have been manually adding payments and bill payments in QuickBooks, these bank transactions will likely show a Match to a current QuickBooks transaction. You will have to ensure that the transactions are matched up correctly. 

 

The transactions will only double up if you select Add instead of Match for the transaction on the For Review section, while that specific transaction has a manual QuickBooks transaction. In case you don't see the Match link under the Actions column, simply click on the transaction and select Find Match, which will bring up manually entered QuickBooks transactions that you can match to. 

 

Connecting the bank account or uploading a CSV file will also make reconciliation much simpler, as matched transactions will automatically be opted in as 'partially reconciled' to the specific period's reconciliation. In the reconciliation screen, you will also be able to see manually added transactions that aren't matched to a bank transaction, and use this information to figure out if this manual transaction is a duplicate, or to figure out if you've missed creating a manual transaction.

 

Hope this helps!

 

Bonny

C
ChrisD55Author
September 4, 2019

Awesome.  That was what I was hoping :)  

christine_w
christine_w
January 29, 2020

Hi jrm2atl-

 

Thank you for the feedback. We understand that the Add feature is meant to be used sparingly. The Match feature is typically our recommendation as the feature will close the loop and balance the transaction. For example, after you input an invoice, when the funds appear in the bank feed you will be able to Match to the open invoice, and in turn the invoice becomes paid and closed. The received funds that have been matched are then converted into a payment connected to that invoice.

 

The bank feed does allow complete oversight, if you do not wish to Add the transaction, if you've already recorded the transaction manually; you can Exclude the transaction when it appears and delete it. There is no requirement to connect to the bank feed as well. You can continue recording each transaction manually. Some business owners simply prefer to utilize the bank feed as their businesses can be completely mobile, making it more difficult to maintain the records manually on the go. 

 

We do not have the function to remove the Add feature, as it's a global feature available for all of our product regions, I would however encourage you to record this feedback so that our local team can review and adjust the local product of QuickBooks Online for greater oversight. Please select the Settings Icon and choose Feedback. Again, this goes directly to our product team here in the APAC region and they take customer recommendations under high priority. 

 

Hope you have a lovely rest of your week. 

 

-Christine

G
gijeet
February 9, 2021

>>The bank feed does allow complete oversight, if you do not wish to Add the transaction, if you've already recorded the transaction manually; you can Exclude the transaction when it appears and delete it.<<

 

Hi Christine, I'm new to QB, how to tell the difference between a "transaction" in the bank feed and funds?

thanks.

R
Rea_M
February 9, 2021

Hello there, @gijeet. Welcome to the Community.

 

The bank feed transactions are those that are downloaded from your bank or financial institution. They're your real-life transactions that can be managed through the Banking page in QuickBooks Online (QBO). While your funds (bank balance) are the amount of money that's made available for business purposes. They're connected in the sense that they're your business transactions that need to be monitored accordingly to keep your financial data accurate.

 

When your account is connected to the online banking feature, QuickBooks automatically download your transactions. All you have to do is add and/match them to the existing entries in QuickBooks. This way, you can keep your books accurate and updated. To do this, you can refer to this article: Categorise and match online bank transactions in QuickBooks Online.

 

Then, I'd recommend reconciling your accounts every month. This way, you're able to monitor your income, expenses, and other transactions accordingly. For the step-by-step guide, you can check out this article: Reconcile an account in QuickBooks Online.

 

Also, I'm adding this article to further guide you in managing the growth of your business using QBO: QuickBooks Help Articles. It includes topics about getting started video tutorials, banking, GST/BAS, and payroll, to name a few.

 

Let me know if you have other banking concerns or inquiries about managing transactions in QBO. I'm just around to help. Take care always.

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