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Woodstdock
January 27, 2025
Question

Downloading checks/Adding Payee

  • January 27, 2025
  • 1 reply
  • 0 views

Hello,

We use QB Online and do not use any of the A/R or A/P features.  We are a consignment store and just add checks and deposits as they are written or as sales are made (so no invoicing or payables.).  We pay around 1000 consignors a month.  Instead of manually entering the Payee name, amount, date , check # etc, 'm wondering if there is an easier way using the auto bank download feed.  My thought is if I use the download feed after I have already entered the checks online that would work great since the download would just match up the check #, amount etc and clear the transaction.  BUT, my concern with using the download feature is if I get behind and don't enter the checks first, that the bank feed will automatically download  a bunch of cleared checks with no payee  and I would then spend more time trying to go back to each downloaded check to look up who the check was made out to adjust the "Pay to" field and then try to figure out which checks I still have to add as uncleared.  Is there a better solution?   Is there a manual option for downloading bank entries and not be automatic?  Would that work better as then I would only use the manual download  at the end of them month when I am certain I have added all the checks?

1 reply

S
SheandL
January 27, 2025

Hello Woodstock, I'm here to guide you through the best practices for managing your checks in QuickBooks Online.

 

Firstly, please know that when the system automatically downloads transactions from your bank, the payee name won't be included if there is no matching entry in QuickBooks. To prevent this, consider creating a check before these transactions are downloaded into the software.

 

This action gives you greater control over the data you upload, thereby simplifying the check matching process. Since your bank will be disconnected from QuickBooks, transactions will not upload automatically. Therefore, to keep your financial records accurate and updated, I recommend uploading your CSV file monthly. To do so, here's how: 

 

  1. Choose a start date.
  2. Get your transaction from your bank.
  3. Review and make sure that your file format is correct.
  4. Manually upload transactions.
  5. Categorise the uploaded entries.

 

For reference, here's a screenshot below:

 

 

Additionally, please know that disconnecting an account will preserve all previously downloaded entries and only stop future automatic downloads.

 

On the other hand, you can also consider utilizing the bank rule feature which allows you to automatically categorize transactions based on specific criteria you set. This can save you time compared to manually categorizing each transaction.

 

For more guidance on ensuring your accounts match your bank and credit card statements, you can read this helpful article: Reconcile an account in QuickBooks Online.

 

If you have any further questions or need more assistance with managing your downloaded checks, please feel free to post here in the forum. We are always here to support you.

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