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S
slabbies36-gmail
July 29, 2023
Question

If my client allocates customer payments to a supporting invoice, how can I match the correct invoice on the bank reconciliation and avoid duplications?

  • July 29, 2023
  • 1 reply
  • 0 views
My client knows exactly which invoice is being paid for, why does the bank reconciliation not immediately bring this up as a match?

1 reply

A
AileneA
July 29, 2023

Hi there, slabbies. 

 

Let me provide you with a brief overview of how matching transactions work. Matching transactions is the process of linking transactions in your accounting software with corresponding transactions in your bank feed.

 

This ensures that your accounts are up-to-date and accurate. When a new transaction is imported from your bank feed, your software will search for a matching transaction in your accounting records and automatically link them.  

 

If a match is not found, you will need to match the transactions manually. It's essential to keep your transactions matched and reconciled to ensure the accuracy of your financial records. Something QuickBooks Online is having trouble locating the correct transaction to match due to mismatched information like the Date, the Amount, and the data on how the information is sent and received by QuickBooks. 

 

In situations like this, let's compare the information from your bank and the data imported in QBO to ensure it is accurate and matches. 

 

Just follow these steps: 

 

  1. Click Banking, then choose Banking.
  2. Go to the For Review tab.
  3. Look for the deposit, then click to open the transaction.
  4. Tap Find Match. 
  5. You can narrow the result by changing the data range.
  6. Choose the matching transaction, then click Save.

 

Once you can find the match, you can start categorizing the transactions. This can help you track your expenses and stay within your budget. 

 

I'm also adding these articles to learn how to review your downloaded entries and reconcile your accounts:

 

Don't hesitate to contact me again with any other urgent concerns. The Community is open 24/7 and always ready to lend a hand. Have a great day!

S
slabbies36-gmailAuthor
July 31, 2023
 

Thank you for getting back to me on this.

The problem that I have been encountering is that as my client records the payment against the relevant invoice, these invoices are no longer showing as 'open invoices'.

So when I try to match the deposits in the bank feed, Quickbooks is not picking up these invoices as they are already recorded as paid.

The customer section for this client are all beautifully reconciled and there are no errors on the customer statements that I send out, but the bank account is showing a while lot of unmatched deposits and I cant seem to solve this issue.

Surely these recorded receipts should be picked up by the system?

Please can you show me where I am going wrong here or what I am missing?

I will attach a copy of one of the receipts and a link below of the same receipt showing on the bank feed. You will see that the bank feed's suggested match is incorrect, and when I try to find other matches, the system does not pick up the relevant invoice at all, no matter how I search.

 

 

A
Archie_B
July 31, 2023

Hi there, slabbies36.

 

I'll elaborate on some details about matching bank transactions to invoices in QuickBooks Online.


QuickBooks will automatically close the transaction if you use the Receive payment feature to manually record an invoice payment. However, if you try to use the Find other matches feature on the banking page, you will no longer be able to see the closed invoice. This is also the reason why you may not be able to find the right match when reviewing uploaded bank transactions.

 

That being said, you can still review the payment linked to the invoice in question. If you have already recorded a payment towards the invoice, you can exclude the payment receipt you uploaded from your bank to avoid duplicates. For more information on how to exclude a bank transaction you downloaded into QuickBooks Online, you can refer to this article: Exclude a bank transaction you downloaded into QuickBooks Online.

 

I'll be around if you still have other questions about invoices or bank-related concerns. Keep safe!

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