Skip to main content
A
aaron-bg
July 16, 2024
Question

My bank is connected to QBO and the balance shows correctly but the expenses are no longer showing under 'For Review' so it's not properly tracking in QBO.

  • July 16, 2024
  • 1 reply
  • 0 views
I'm using Mercury Bank and it is linked to QBO. About 1 month ago expenses stopped showing up in QBO.

1 reply

AlverMarkT
AlverMarkT
July 16, 2024

I appreciate you for detailing your concern, Aaron. I'm here to help.

 

QuickBooks Online (QBO) automatically downloads new transactions from your Mercury bank account connected to it. If the expense transactions from a month ago are missing, I can recommend a course of action to resolve this.

 

First, it's possible that there are factors on your bank’s end that prevent QBO from downloading the expense transactions from a month ago. I recommend signing in to your bank’s website to check. You can follow these steps:

 

  1. Sign in to your Mercury bank's website.
  2. If you're not sure what URL to use, find it by going to Bank transactions, then select Link account. Search for your bank, select it, and copy the listed URL.
  3. Check your account for messages, notifications, or alerts.
  4. Look for any display issues as you navigate the website. These can block QuickBooks from downloading new transactions.
  5. Check your bank’s website for any announcements about new security requirements.

 

Next, if the issue persists, I recommend contacting our Support Team for further assistance. They provide live support in a secure environment and further help you resolve the issue.

 

For now, you can consider entering the missing expense transactions and marking them as cleared in your Mercury bank account register in your Chart of accounts. If you already have a record of these transactions in QBO, manually mark them as cleared. Here's how:

 

  1. If you have no QBO record of the expense transactions, click the +New button. Then, create an Expense or Check.
  2. If you already have a QBO record of the expense transactions, go to the Chart of accounts.
  3. Click on View register for the Mercury bank account.
  4. Locate the expense transactions corresponding to the missing expense transactions that weren't downloaded.
  5. Compare the details of the expense transactions with the missing transactions using your bank statement. Select Edit if you need to update some details.
  6. If everything checks out, click on the box from the checkmark column until you see "C". This marks the transaction as cleared.
  7. Hit Save.

 

For future reference, let me add this article about reconciling accounts in QBO: Reconcile an account in QuickBooks Online.

 

We'll be here in the Community if you have further concerns about the missing expense transactions from your Mercury bank. We'll do our best to assist.

A
aaron-bgAuthor
August 8, 2024

@AlverMarkT  - Thank you for your detailed response. I think I figured out the issue and trying to understand the best way forward. Maybe you can help direct me. Basically, I recently opened a credit card through my Mercury bank and those expenses have been paid on the credit card. In reality, every month Mercury takes the money from the Mercury checking account (which is set up in QBO) and I can see those transactions populating on the Bank Transaction screen from the Mercury account link. 

 

Now, after some digging, I found that under Link Account there is an option to Manage Connections. From there I can see the Mercury Checking is enabled but Mercury Credit is toggled off. This is probably why I don't get those transactions. When I try to enable Mercury Credit it shows the current credit bank and - it asks "Which accounts do you want to connect?" 

 

Can you help me understand how QBO works when I add the Creditcard connection? 

Do I need to click "Add New"? I don't see an option for my Mercury Checking. So if I click Add New - I choose Account Type 'Credit Card' and make it a Sub Account of Mercury Checking? Or the Credit Card account will be completely separate from the Mercury Checking? Is there an easier way to manage this?

 

If I have a separate Credit Card now, then I assume that I'll need to pull in the credit card transactions from the date the credit card was opened and start adding those into QBO. And on my Mercury Checking, I'll need to start recording the payments made to the Credit Card? 

Candice C
Candice C
August 8, 2024

Good morning, @aaron-bg.


Thanks for coming back and asking additional questions.


I recommend having both accounts set up with online banking and that the accounts need to be completely separate. The reason being is the money from one (checking account) is used to pay off the other (credit card account).

 

Here's some guides to help you along the way:

 


Feel free to reach back out if you have any other concerns. Take care!

Terms & ConditionsAccessibility statement