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February 15, 2020
Question

Banking feed, often have payments of the same amount from different customers. Feed chooses a name from the possibles but name is not on bank statement.

  • February 15, 2020
  • 1 reply
  • 0 views
The choosing by Feed of a name can lead me to accept that match.  But looking at the statemnt I find that the name does not appear against that payment.  Si I have to check each one.  So what is the point of the feed?

1 reply

February 15, 2020

Hello there, @communityoil.

 

QuickBooks will depend on the transactions posted in your bank.

 

The feed is used for reconciliation to ensure that the transactions from your Bank statement match in Quickbooks, so it provides accurate financial reports.

 

You can set a bank rule to categorize transactions automatically from your bank. Bank rules speed up the review process, it can even scan transactions and add details like payees.

 

Once you have a bank rule, QuickBooks automatically applies your rules to transactions in the For Review tab. These are the ones you need to review every day.

 

For further information and detailed steps on how to set bank rule, refer to this article: How to set and use banking rules for downloaded transactions.

 

I’m always in your back if you have other concerns.