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Photonic1
October 8, 2024
Question

Why does QB Online find matches to bank transactions and ignores a valid rule in place

  • October 8, 2024
  • 1 reply
  • 0 views
For example -rule in place for regular transaction Roy's Nuts R75.00: expense account Bar Supplies but without fail QB will "Match" to any transaction of R75.00 it can find and not apply the rule.

1 reply

K
KimberlyS
October 8, 2024

There are specific criteria for identifying matching transactions and implementing bank rules, Photonic1. I'll add additional information on this matter and explain how you can guarantee that the rules are applied accurately in QuickBooks Online.

 

When you download your bank transactions, QuickBooks will look for existing entries with the same amount, date, and payment account to prevent duplicates. Whereas bank rules are applied based on the conditions and criteria you set.

 

In your case, please ensure to prevent interchanging bank text and descriptions so bank rules can recognize appropriate entries. You'll want to refer to the explanation below to differentiate the two effectively:

 

  • If you opt to use bank text, the program will search for transactions that match the information provided by your financial institution. These are the details shown on your bank account or statement.
  • If you utilize description, the system will identify entries containing specific details that are not necessarily identical. This provides more flexibility, allowing you to only include the supplier's name or other relevant information associated with the downloaded financial dealings.

 

For more information, visit this article:Set up bank rules to categorise online banking transactions in QuickBooks Online.

 

Moreover, to keep your account balanced for accurate reporting and tax calculation, reconcile them regularly with the guide of this material: Reconcile an account in QuickBooks Online.

 

You can tell us anytime if you require assistance or clarifications about matching transactions and utilizing bank rules in QuickBooks Online. We're here to assist you with any concerns you may have.

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Photonic1Author
October 8, 2024

Thank you for the quick response but I still do not understand why it is not applying the rule. The transactions are actually imported from the cashbook in CSV format and the description exactly matches the description in the rule. In addition, the transaction it is trying to match to is a reconciled transfer transaction in the Bank Account, it is not even a cash transaction. When I switch from the "Match" option to "Categorise" it shows "Rule Applied" but does not complete the Account /Category field. Please see attached for more clarification. I am obviously missing something!

 

R
RCV
October 8, 2024

We appreciate you returning and providing us with a screenshot to better isolate the baking rule issue in QuickBooks Online (QBO), Photonic1.

 

Aside from the troubleshooting solutions provided by my colleague, let's ensure we select the settings for the rule for the Account and Category fields to apply. If the same thing happens, we can delete bank rules from the Actions dropdown on the Rules page and recreate them. Here's how to set up the new bank rules:

 

  1. Go to the Gear icon on the top menu and select Rules.
  2. Click New rule.
  3. Enter a name in the What do you want to call this rule? field.
  4. From the Apply this to transactions that are ▼ dropdown, choose Money in or Money out.
  5. From the in ▼ dropdown, select a bank account or All bank accounts.
  6. Set the rule conditions. In the Conditions fields, decide how QuickBooks applies the rules.
  7. Choose the settings for the rule.
  8. Press Save.

 

You can check out this article to learn about using bank rules: Set up bank rules to categorise online banking transactions in QuickBooks Online. 

 

If the problem persists, we suggest contacting our Customer Support Team. They'll pull up your account in a secure environment and investigate what's causing this issue.

 

Moreover, you can check out this article to enhance your experience and ensure a seamless reconciliation process in QuickBooks: Learn the reconcile workflow in QuickBooks.

 

If you have more questions about matching bank transactions or any QuickBooks-related concerns, hit the Reply button. We'll be available around the clock to assist you.

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