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H
Hom
October 31, 2020
Solved

How to match auto bank feed to supplier credits and bills as when a 'find match' from the Bank payment

  • October 31, 2020
  • 1 reply
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Hi-How to match auto bank feed to supplier credits and bills as when a 'find match' from the Bank payment feed is initiated ONLY bills appear NO cr? If I go to "Pay Bills"I can select the cr BUT then I end up creating dupl.payment as the bank feed shows that payment already. Pls help asap Tks

Best answer by Ashleigh1

Yeah doesn't work unless you have some open bills.

 

Take this scenario - you pay your business insurance £500 you create a bill, pay the bill, match the payment and the bill and it's all done.

 

6 months later you change insurance provider and they refund you £250 of your remaining insurance so you have a credit in the banking section, there is no existing bill it's closed and paid off. 

QuickBooks is so horrible to use it's easiest just to exclude these and hope your accountant doesn't notice.


Hello DavidHomer, thanks for posting on this thread, To answer your question what you can do is do the supplier credit to mark the refund and then do a bank deposit to record the amount being returned to your bank and  you will be able to match the refund in Quickbooks banking to the deposit. The final step would be to go to pay bills, select the supplier and you should then see the credit note to tick and the deposit to tick and they will offset against each other to clear any credit amount under the supplier. Any questions just add them onto the thread.

1 reply

AlcaeusF
AlcaeusF
October 31, 2020

Thanks for posting in the Community, @Hom.

 

When using the Find Match option on the Banking page, you'll only see the bill, not the supplier credit.

 

Based on the information you've shared, you'll need to link the supplier credit to the bill first. This won't create a duplicate since the downloaded transaction from your bank is different from the one you have in QuickBooks Online (QBO).

 

Here's how:

 

  1. In QBO, go to the + New option at the top left.
  2. Select Expense or Cheque (both both of them recognise and record the expense). 
  3. Choose the supplier name in the Payee drop-down.
  4. Leave the Ref/Cheque no, Date, Amount and Memo fields blank.
  5. In the Add to Expense or Add to Cheque section, tick Add for the outstanding bill and supplier credit.
  6. Select Save and close.

 

Once done, you can now match the downloaded bank transaction. For further guidance on how to do it, check out this article and proceed to the Match an existing transaction section: Categorise and match online bank transactions in QuickBooks Online.

 

For more insights about managing supplier credits in QBO, please refer to this article: How do I handle supplier credits and refunds?

 

Let me know if you have any other questions or concerns by leaving a comment below. I'll be more than happy to help. Have a good one!

H
HomAuthor
November 8, 2020

Hi Thanks for the response a week ago. Followed the instruction to set the 1st part of the course ie select the inv.& Cr notes matching the auto bank feed payment amount. The step +New>Expense>Leave Ref/Cheque no, Date, Amount and Memo fields blank>Add to Expense>Save and close produced an error message 

"Something's not quite right. You must specify a date"' PLUS one cannot really leave the amount 'BLANK' as when the inv and cr notes are selected, it adds the amount to total and the fields are populated.

I may have missed something in your instructions.

What I am looking for is to 'match the auto feed payments to the supplier bills and credits 'easily' as QBO unlike other packages do not display credits of suppliers for matching-only inv!. Hope you can assist again. Many thanks [email address removed]

AlexV
AlexV
November 8, 2020

You're almost there, Hom!

 

As mentioned, you'll only see the bill, not the supplier credit when matching transactions. So what you need to do is to link them.

 

Once you select the supplier name in the Payee drop-down, the Add to Expense or Add to Cheque section appears. From there, click the Add on both Bill and Supplier Credit. 

 

Before clicking Save and close, please make sure that the bill and supplier credit have the green checkmarks.

 

If you need detailed guide, you'll want to check these articles:

Post again here if you need anything else. Wishing you all the best!

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