Question

Managing Transactions | Post Your Question Below

Forum|Forum|2 years ago
September 11, 2023
21 replies
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Let us know if you have any questions about managing transactions (adding, excluding, categorising and matching). Post your question below and we'll have an expert that can help you get an answer.

S

Sonia P

Hi, I'm new to quickbook and by error I deleted a bank transaction. How do I add a bank transaction manually?

AlcaeusF

Hi there, Sonia.

I can help you manually add your deleted bank transaction in QuickBooks Online (QBO).

Let's begin by getting the transaction from your bank. Here's how to do it:

Sign in to your bank or credit card's website.
Follow the instructions on how to download CSV files of your transactions to your computer. Every financial institution has different steps.
Make sure the date range for the download begins at least one day before your oldest transaction.
Download your transactions. Save the file somewhere you can easily find it, like your computer's desktop.

Then, open and examine the file provided by your bank. Verify that it is in the appropriate format before uploading it. Remember that the maximum file size allowed is 350 KB. If the file exceeds this limit, consider narrowing down the date range and downloading transactions in smaller portions.

Once done, you can proceed to manually upload the transaction to QBO. The steps for doing this may vary depending on whether your account is connected to online banking or not. You can refer to this article and proceed to Step 4 for further guidance: Manually upload transactions into QuickBooks Online.

I'm also adding these articles that tackle categorising and reconciling your account for future reference:

Please let me know if you have additional questions about this or anything else. I'll be more than willing to assist. Take care.

A

AdamHolmes

Hi,

When matching bank transactions with invoices / bills - will this trigger webhooks?

If so, would it be Payment and Bill Payment?

Thanks

Adam

M

Mich_S

Hello, Adam. Webhooks lets you receive event-triggered callbacks for entities that your application needs to stay on top of. This app also notifies you automatically whenever data changes in your end-user’s QuickBooks Online company files.

In your case, matching your bank transactions will trigger Webhooks regardless if it's payment or bill payment, as long as there are modifications done. Nonetheless, I suggest reaching out to them directly. They'll be able to provide you with additional details if there are any necessary actions or requirements for the trigger to occur. Here's how:

Log on to the Intuit Developers webpage.
Click on QuickBooks Desktop under What do you need help with?.
Pick Ask a Question.
Sign into your existing Intuit Developer Account or create a new one.
Type in your concern.
Click on Ask.

If you're all set, visit this extra guide about personalising sales forms: Customise invoices, estimates, and sales receipts in QuickBooks Online.

Keep in touch so wacnt herlp youf ruether with this matter or QuickBooks. Stay safe always!!

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LOC3

If I e mail my receipts to my QuickBook e mai, how do I get them to automatically reconcile with the amount taken from the bank account?

JaeAnnC

Thanks for joining in on this thread, @LOC3. Allow me to address your concern about reconciling emailed receipts in QuickBooks Online (QBO).

When emailing receipts in QBO, the system extracts their information so you can create a transaction to review. Then, you'll be able to edit, add it to an account, or match it to an existing entry to avoid duplicates.

Currently, we're unable to perform automatic reconciliations in QBO. That said, you'll have to do it manually in the program to ensure that all transactions are accurately recorded and accounted for. Before doing so, review the opening balance so it will match your real-life bank account.

Here's how to reconcile:

Ensure to match and categorise your bank transactions. Then, go to the Gear icon and select Reconcile.
Select the Account to reconcile.
Review the Beginning balance and ensure it matches the one on your bank statement.
Enter the Ending balance and Ending date.
If available, review the Last statement ending date. It is the end date of your last reconciliation, and your current bank statement should begin the day after.
When ready, click Start reconciling.

For the detailed step-by-step procedure, please see this article: Reconcile an account in QuickBooks Online.

Additionally, I'm sharing this article that will help streamline your reconciliation process in QBO: Learn the reconcile workflow in QuickBooks. It contains the necessary procedures for resolving issues when reconciling an account.

We're always glad to see you join the Community to ask for assistance. If you have follow-up concerns about reconciling receipts, please don't hesitate to return to this thread. We're always available 24/7 to address your queries.

V

vrvrinfo

Hello,

We have two checking accounts linked to QBO through the banking feed. We transferred money from one account to the other a few days ago. I can see both transactions in the respective bank feeds, but they are not coming up automatically as a match. When I click "Find Match", nothing shows up, either. How can I pair these two transactions?

Angelyn_T

Thank you for joining the thread today. Let me guide you through matching your entries in QuickBooks Online (QBO).

Matching in QuickBooks links downloaded transactions with the existing ones (manually recorded), such as invoices, bills, receipts, or payments, to avoid duplicates. The system automatically detects a match when the transactions are recorded under the same bank account with identical payees, amounts, and dates.

To discover potential matches for your income or expenses, follow these steps:

Tap on the Find Match button.
Choose Find other matches.

From there, you can refine the results by customizing the transaction types and date ranges to find all the possible matches.

If your transactions are downloaded separately in their respective bank feeds, pairing them isn't possible. You may have to review and categorize them individually.

Additionally, you can utilize bank rules to streamline the review process and categorize your banking data automatically.

Please feel free to leave a comment below if you have other questions while working with your bank feeds in QuickBooks. I'm more than happy to help you again. Keep safe!

S

SoniaMB

Hello, I placed an order with a supplier and paid for it with my business debit card. However, after I paid, the supplier notified me that a couple of items were out of stock. The invoice sent reflects the new total (i.e the amount I paid + the amount I refunded) and they have refunded me the out of stock items. I am not sure how I record this refund on QB?

JaeAnnC

Thanks for chiming in on this thread, @SoniaMB. I'll be happy to outline the steps to record a vendor refund from an out-of-stock item in QuickBooks Online (QBO).

First, create a vendor credit for the item that was out of stock. Then, apply it to the bill as payment. To do that:

Go to + New, then click Supplier Credit.
Select the Supplier and enter the out-of-stock items in the Item Details section.
Fill in other necessary fields and click Save and close.

Once done, pay the bill using the vendor credit. Here's how:

Go to Expenses and select Bills.
Locate and click the bill in question.
Select the 1 payment hyperlink at the upper-right corner of the screen and click the date to open the Bill Payment page.
The credits will show in the Add to Bill Payment section. Select Add to apply.
Click Save and Close.

Then, deposit the amount refunded by the supplier.

Furthermore, skip the inconvenience of tracking and recording receipts from your suppliers. In QBO, you can upload them from your computer or mobile device, and the program will extract information from it for you to review.

Feel free to reach out to us if you need additional assistance recording supplier refunds. I'll join back in the thread to provide further help. Take care, and have a nice day ahead!

N

NickieNewt

Hello

Help with Paypal/ebay transactions... ecommerce from several channels - website where customers can pay via paypal, ebay shop, etsy shop etc.

So we raise an invoice for the full transaction amount - products, postage and paypal/ebay fees. The actual amount we recieve is the product and postage and not the fee. How do you accept payment against the invoice when you are 3/5% under the full amount? What do you do with the fee amount? Help!

Thanks

Nickie

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Ashleigh1

Hello NickieNewt, thanks for posting on the Community page, Is it just a case of following these steps for the fees for the 3rd party

1) Raise the invoice for the full amount manually (Sales > Invoices > New invoice)
2) Select 'Receive payment' on the invoice - enter the payment details and receive the full amount to the 'Undeposited funds' account on the 'Deposit to' drop-down
3) Create a bank deposit (+ New > Bank Deposit) - make sure the date is when the payment hit your account
4) Tick the invoice payment listed under 'Select the payments included in this deposit'
5) Scroll to 'Add funds to this deposit' - Set the 'Amounts are' drop-down to 'No VAT'
6) On the first line, enter the expense account for fees under 'Account', and enter the fee amount as a minus figure
7) Check the total bank deposit amount in the top-right matches the payment received then save & close.

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NickieNewt

Thank you Ashleigh, however I can't quite follow the steps as I am on quickbooks online so instead of step 4 : 4) Tick the invoice payment listed under 'Select the payments included in this deposit'

The choice I have is to add funds to this deposit and then have to fill in received from, account, description, payment method, ref no, amount vat - rather than linking to an invoice.

Can you advise how to process this on QB online?

Many thanks

nickie

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GeorgiaC

Hi Nickie, please make sure that you have allocated the invoice payment to Undeposited funds (steps 1 & 2). The invoice payment should be for the full amount including fees, as these will be deducted at the next step (the bank deposit). Undeposited funds is a default account in QuickBooks Online used for holding customer payments until you receive them in your bank.

Payments allocated to undeposited funds will appear under Select the payments included in this deposit on the bank deposit. After ticking the relevant payment(s), scroll to Add funds to this deposit to deduct the fees.

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Ashleigh1

Hello NickieNewt, thanks for coming back to us so the process would still be the exact same way for this.

T

Tracy Ranger

How do I link a bank transaction from the bank feed to a vat return? There doesn't seem to be an option in the bank feed transaction to link the payment to a vat payment. Many thanks

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