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Newbie_Fred
September 20, 2020
Question

Match one CC payment for a vendor's two invoices

  • September 20, 2020
  • 1 reply
  • 0 views

My supplier sent me two invoices each $265.44. They charge 50% of each invoice at the time of order. They should have charged my CC $132.72 for each invoice but charged once a total of $265.44.

I recorded each invoice as Bill in QBO and then recorded both payments (deposit and final payment) for each invoice. 

Under Bank, the CC account shows $265.44 and two 132.72. The two 132.72 are matching fine but the 265.44 shows as "Uncategorized Expense" with an Add at far end. Clicking on the line, the options are "Categorize" and "Record as transfer". At the bottom there are Split and Add. 

How can I match this withdrawal with those two invoices?

 

Thanks,

1 reply

L
LauraAB
September 21, 2020

Hello Newbie_Fred,

 

Welcome to the Community! Your screen name has me thinking that you're new to using QuickBooks Online as well. I'll gladly help you navigate this bill and payment situation in your QuickBooks Online banking feed so that you can get to work with this useful tool.

 

I appreciate the amount of details you've gone into here, such as including the fact that you've already recorded the bills and their payments in QuickBooks Online. I'm happy to share that it's absolutely possible to match the single payment in the banking feed to the two transactions you created directly in QuickBooks. Here's how it's done.

  1. In the bank feed, click the transaction in question.
  2. Choose Find match.
  3. Select the relevant transactions.
  4. Click Save.

I notice you say you're not seeing the Find match option and only have Categorize and Record transfer. With that in mind, it sounds to me like you're working in a foreign currency banking feed. The Find match only appears for home currency feeds, and when it comes to foreign currency feeds, there are a few things to keep in mind.

 

The first thing to keep in mind is that the transaction must be an open transaction in QuickBooks Online. What I mean is that it can't have any payments recorded against it or else the feed won't produce a match. Hang on a moment before going and deleting those payments, though. The second thing to keep in mind is that, unlike the home currency feed, you won't be able to match a single transaction from the bank feed to multiple in your books.

 

In this case, you'll want to Exclude the transaction. This doesn't hurt your books at all. It just means that the program won't be matching the transaction to your statement at this time and you'll have to handle it during the reconcile process. Since you already have the bill payments recorded in your books, you should be good to go. Here are a couple of articles that can help, first with excluding and then with reconciliations.

I'm here to help if you have further questions, so don't be afraid to ask. Have a great day!

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