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hideawayacres
October 20, 2022
Question

QuickBooks Payments

  • October 20, 2022
  • 1 reply
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I have my invoices set up to receive payment via ACH. I have had several problems where QuickBooks doesn't seem to correctly match the payment with the invoice. In one case, the bank transaction isn't matched to any invoice and in other instance it appears that an invoice I believed to be open already has an online payment matched to it. I have not been able to find any way to verify the source of the QuickBooks transactions. Help!

1 reply

Tori B
Tori B
October 20, 2022

Good morning, @hideawayacres. 

 

It's great having you here in the QuickBooks Community. I hope you're enjoying the day so far. 

 

QuickBooks may not automatically match all your transactions. For example, your bank may not provide a unique ID for each Deposit. 

 

This could also be that you've received the invoice payments to the Undeposited fund's account. If you receive invoice payments to Undeposited Funds, you'll have to create a Bank Deposit and select those invoices to match the deposit amounts from your bank register. 

 

I'm happy to walk you through the process. Here's how:

 

  1. Go to the + New button and select Bank Deposit.
  2. Choose the account from the Account drop-down you want to deposit the money.
  3. Select the box for each payment and ensure the deposit total and selected payments match your deposit slip.
  4. Click Save and close.

 

There are cases where some of the transactions can’t find their match from existing records. Here are the possible reasons why.

 

  • The payees don’t match.
  • The amounts don't match.
  • The dates don't match or aren't close.
  • The transaction is older than six months.
  • The bank account on the payment is not the same as the bank where the match is located.
  • The payment has been reconciled.
  • The transaction is already matched to something else.
  • There’s a multicurrency issue with the exchange rates, or the transaction doesn't pass through the home currency at some point.

 

Please know that when this issue arises, you can always manually match the transactions. Here's how: 

 

  1. Find a downloaded transaction with the View option in the Action column.
  2. Select View.
  3. Review the Matching records found in QuickBooks. These are the possible matching transactions you already entered in QuickBooks.
  4. Click on the link next to each match to get more details.
  5. Make sure one of these is a match. In particular, review the Deposit to, Payment method, or Bank account fields on forms for the existing transactions in QuickBooks.
  6. Compare the potential matches.
  7. When you find the correct match, close the open transactions.
  8. Select the correct match and then select Match.

 

For additional information about matching QuickBooks Payments with invoices, check out the help articles I've included below. 

 

 

I'll be here if you have any follow-up questions or concerns. Have a good one, and stay safe! 

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