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D
DebGer
February 10, 2021
Question

EFT was done debiting customer's account not crediting it

  • February 10, 2021
  • 1 reply
  • 0 views

We can process an EFT from our customer's account into ours to pay his invoices.  That EFT was accidentally done to debit his account this time.  We have since credited his bank account double.  Once to cover the invoice and once to reverse the error.  How do I match up these transactions from the bank in QBO 

1 reply

J
JamesM4
February 10, 2021

Hi DebGer,

Matching transactions can be a time-consuming process but don't worry, I've got your back. I'll be happy to steer you towards the right path with this. Before we start, I'd recommend reaching out to your accountant for expert advice on how you'd handle that transaction.  If you're not in contact with one, I encourage you to search for one on our website using this link here. Otherwise, here's how you'd match existing transactions on your account. 

  1. Locate transaction in question with the Match option in the Action column.
  2. Note the Date, Description, Payee, and amount spent or received.
  3. Click on the downloaded transaction to expand the view.
  4. From here, review the Matching records found in QuickBooks.
  5. Click on the link next to each match to get more information.
  6. I'd recommend checking to make sure you've got the correct match. This includes reviewing the Deposit to, Payment method, and Bank account fields on forms for the existing transaction in QuickBooks.
  7. If this is the correct match, close the open transaction.
  8. Select Match.

I encourage you to check out this helpful article with more info on how to: Categorize and match online bank transactions in QuickBooks Online. Feel free to ask other questions, I'm here to help.

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