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zedder
April 15, 2022
Question

match transactions to previous year

  • April 15, 2022
  • 1 reply
  • 0 views

hi newbie here.

been using QBO for 2 days! 

ive connected to my bank account and ive downloaded transactions - I have 2 - 1 an expense and 1 a paid invoice which both relate to previous year (my year end is same as financial year) 

how do I deal with these?

do I exclude them? or create some journal entry?

I dont think I should adjust the opening balance??? 

 

good news is its only 2. I tried hard to get all expenses and invoices paid prior to year end for the switch but these 2 didn't..

 

any help or pointers to where to find answer most welcome - I have tried searching for it but cant quite find what I need 

1 reply

LieraMarie_A
LieraMarie_A
April 15, 2022

You've come to the right place, @zedder. With these instructions, you'll be a QuickBooks master in no time.

 

When you connect your bank to QuickBooks Online (QBO), it will automatically download recent transactions from your bank. If you haven't added or matched them yet in the For Review tab, here's how to exclude them:

 

  1. In the left navigation panel, select Banking.
  2. Choose the bank.
  3. Go to the For Review tab.
  4. Select the invoice payment and expense.
  5. Select Exclude.

 

On the other hand, if you've already accepted these transactions, you can undo the action in the Categorized tab. These entries go back to the For Review tab so you can decide what to do with them again. You can then exclude them from there.

 

Follow these steps:

  1. From the Banking page, select the bank.
  2. Go to the Categorized tab.
  3. Select the payment and expense.
  4. Click Undo, then Continue. 
  5. In the For Review tab, select the transactions.
  6. Select Exclude.

 

Additionally, by following these steps, you can permanently delete excluded transactions from the banking center:

  1. Go to the Excluded tab.
  2. Tick the transactions.
  3. Select Delete.

Furthermore, here are some resources that'll guide you on how to manage your bank feeds: 

 

Feel free to add a reply if you need further assistance with navigating QuickBooks tools. The Community will always have your back. Have a nice day, @zedder.

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