Match payout transaction with old bills

Let me ensure you can match the bill payments to the bank transactions in QuickBooks Online (QBO), Furkan.

Before anything else, let me address your concern about using (Cost of Goods Sold) COGS. This account refers to the total cost involved in manufacturing a business’ product, or the total cost of a product that is purchased, then sold. That is why your Profit and Loss (P&L) increases COGS account. You also want to consult your accountant to guide you with categorizing your transactions.

Next, since you mentioned that you pay some of your bills, it could be that the amount used to pay for it is reflected on the bank in one. There are cases that which you paid from your bank, and the bank transactions will reflect the amount in one or bulk causing it not to match the transaction entered in QBO.

Thus, I suggest you look for the specific transaction from the Bank feeds and split this into how many transactions it may contain to match each bill payment from QBO.

Here’s how you can split a bank transaction:

1. Go to the Banking menu and select the Banking tab.
2. From there, look for the transaction intended for the bill payments.
3. Tap it twice to maximize and click the Split button.
4. From the Split transaction window, add the details necessary to divide the amounts for the payment and match this.
5. Lastly, select Apply and accept.
   

    

Once done, start categorizing and matching your bank transactions. Then, reconcile your account to avoid any discrepancies.

That should enable you to match the following transactions in QBO, Furkan. If you have more concerns with matching transactions, please don’t hesitate to reply to this thread. Have a good one!