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Matching online transactions within QuickBooks

When you download transactions from your financial institution and select the Show Register checkbox while viewing a QuickStatement (a list of transactions that have taken place since your last download, and any transactions not matched from previous downloads), QuickBooks tries to match transactions from the statement with those in your register.

The matching process consists of several stages, using the algorithm described here. All of the following criteria must be met for QuickBooks to consider transactions matched.

Detailed information

Before the matching process

Before beginning the matching process, QuickBooks identifies all register transactions dated more than 90 days before the system date of the computer on which QuickBooks is installed, or more than 60 days before the earliest date of all the downloaded transactions. These identified register transactions will not be considered for matching. Transactions that have already been reconciled are also discarded from matching consideration.

Primary matching process

  1. The downloaded transaction amount is compared to the amount of the first remaining register transaction ("remaining" refers to those items left after the criteria applied in "Before the matching process"). If the amounts are not identical, the pair is not a match, and the next register transaction is compared to the downloaded transaction.
  2. If the transaction amounts match, the check numbers are compared. If these numbers also match, the transaction is marked as matched. If the check numbers do not match, the next register transaction is compared:
    •  
    • Only check numbers with numerals are considered as final match candidates in the primary matching process. If the check number in the register contains letters and the downloaded transaction has no check number, the pair is considered a possible match and it moves to the secondary matching process (see below).
    • If the downloaded transaction is from a financial institution using the OFX protocol (one of the online banking protocols QuickBooks uses) and does not contain a check number, and the register transaction is an online payment with a check number, the pair is considered a possible match and it moves to the secondary matching process (see below).
    • If there is no check number for either transaction, the pair is considered a possible match and it moves to the secondary matching process.

Secondary matching process

  1. Next, the payees of the 2 transactions are compared. QuickBooks takes both transactions and removes:
  • Any numbers
  • The special characters " > ! @ # $ % ^ ( ) / \
  • The period character
  • The space character
  • Any characters following the numbers or special characters. For example, "Chevron Oil #456 Newark" becomes "ChevronOil".
Only the characters left in the modified register payee name are compared with the downloaded payee. Therefore, a register payee of "ChevronOil" (10 characters) will match a downloaded payee of "ChevronOilStation" because the latter's first 10 characters match "ChevronOil". If the payees match, then the transaction is considered a match. If they do not match, the process proceeds to the supplementary matching process.
  1. Finally, the dates of the 2 transactions that are considered a possible match are compared. If the register transaction is dated more than 30 days before the downloaded transaction, no match is made. The process returns to primary matching and compares the downloaded transaction with the next register transaction.

Supplementary matching process

QuickBooks compares the register transaction examined during the secondary matching process against each unmatched transaction in the QuickStatement. If it finds a better pair than was found during the secondary matching process, then it uses the new match instead. Otherwise, QuickBooks creates a match between the current register transaction and the downloaded transaction compared during the secondary matching process.

 

If this information does not answer your question, you can read discussions and post messages and questions relating to your issue on the Intuit QuickBooks Community site for free. You can contact an agent for additional guidance. Fees may apply.

KB ID# INF12395
10/25/2014 11:57:55 AM
PPRDQSSWS401 9102 Pro 2013 ffa2e8