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jmurphy37055
September 15, 2021
Question

New startup, experienced desktop user now using QB Online, connected bank account and payroll

  • September 15, 2021
  • 1 reply
  • 0 views

I have been a QB desktop user for more than 20 years and I'm really struggling with QB online. Our company was sold and new owner insists on QB Online. Our first two payrolls were so messed up, they did not get our bank account verified and the new owner ended up paying the net checks through another account via ACH transfers. One individual had split bank accounts so required two separate transactions, one of these transactions was made from the bank account that is 'connected' to QB and the other was paid from an account that was not connected. So, when trying to match the downloaded amount from the 'connected' bank account, since the amounts are not the same I cannot find a way to combine two separate entries to match. Net check was 2392.22, connected bank account paid 1642.22 and 750 was paid from an account not associated with this company. I have made journal entries as a liability 'due to' the other business that paid the 750.

I am so confused and if you are reading this and are not confused, kudos to you and any help you can provide to me would be greatly appreciated.

1 reply

M
Maybelle_S
September 16, 2021

Glad to have you here in the Community, @jmurphy37055.

 

In QuickBooks Online (QBO), we have to make sure that the amount, date, transaction type, and the bank account used are the same when matching downloaded entries. 

 

Since the check doesn't meet those criteria, we can exclude it instead. Then, manually clear it in your Chart of Accounts.

 

Here's how:

 

1. Go to the Banking menu.

2. Select the Banking tab.

3. Click the For Review tab.

4. Select the checkbox of the transactions to exclude.

5. Click Exclude.

 

Then, let's manually clear the check transactions. Let me guide you how:

 

1. Go to the Accounting menu, and then click Chart of Accounts.

2. Find the appropriate bank, then click View register.

3. Select the transaction to edit.

4. Under the Check column, click the box repeatedly to change the status to "C". ("C" - Cleared, "R" - Reconciled, and "Blank" - Not cleared or reconciled)

5. Hit Save.

 

I'd also recommend seeking assistance from your accountant to help you check the journal entry you've created. This is to ensure the accuracy of your books.

 

I've added this article on how you can split transactions and troubleshoot bank entries: Categorize and match online bank transactions in QuickBooks Online.

 

Let me know in the comment section below if you need further assistance or questions. I'm here to help you. Take care.

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