Skip to main content
B
Bel10
February 11, 2022
Question

Bank Transaction Process

  • February 11, 2022
  • 1 reply
  • 0 views

Hi, 

 

I'm new to QB and the company I have just joined has QB online and the bank is linked to the system. I just have a process question. 

I have vendor bills that are confirmed as paid on QB and when I go into the bank transactions, I can see the payment going out a few days later via the bank.

I'm just not sure what to do with these bank transactions as the bill is already recorded as paid.

Should I just exclude these Bank transactions or should I delete the payment associated with the bill and then match the bank transactions to the relevant bills. I don't want to double account for the payment in QB so just want to check the best practice.

 

Any advice would be appreciated.

B.

1 reply

JessT
JessT
February 11, 2022

Hi HPMont,

 

It's lovely to see you in the Community! Hope you're doing well!

 

Thanks for asking the Community about your downloaded payment. I’ll share the proper way to handle it so you don’t get duplicate payment records on your books.

 

If you haven't reconciled your bank transactions in QuickBooks, specifically the bill payment in your records, the downloaded payment should be able to detect it as a matching transaction. You can just match them. However, if it's already reconciled (R), it will no longer show as available for matching, so just exclude the downloaded payment so it won't be accidentally added to your books.

 

  1. Go to the Banking menu or Transactions menu, then select the Banking tab.
  2. Select the For Review tab.
  3. Select the checkbox of the transaction to exclude.
  4. Select Exclude.

 

You can also check out the Online Banking guide for QuickBooks Online for your additional reference.

 

I'm just right here if you need more help with handling your bank transactions. Take care and have a good one!

Terms & ConditionsAccessibility statement