After you download an electronic statement, you need to match the transactions in it to the ones in QuickBooks. That way, you can tell what transactions your financial institution has processed and which ones have not cleared the bank yet.
You can also tell if the financial institution has processed any transactions that are not in QuickBooks, so you can add them to your records.
To do this task
Open the Match Transactions window and make sure that the register is showing.
Open the Online Banking Center.
Download an electronic statement the way you usually do.
View the electronic statement.
In the Match Transactions window, make sure that the Show Register checkbox is selected. If it isn't, click it to select it.
QuickBooks matches the transactions in the electronic statement (at the bottom of the window) with those in the register (at the top of the window). Matched transactions are marked with a in your register.
What does QuickBooks look at to make a match?
When QuickBooks finishes matching the transactions, it tells you the results. Click OK to close the message.
Review the status that QuickBooks assigned to each transaction in the electronic statement and decide what to do.
Matched: The transaction in the electronic statement corresponds to one you've entered into this account in QuickBooks.
If you agree with the match QuickBooks made, you don't need to do anything else with this transaction.
If you don't agree with the match, unmatch the transactions. The status of the transaction in the electronic statement changes to unmatched (see below).
Unmatched: The transaction in the electronic statement doesn't match any transaction in this account in QuickBooks.
Some possible reasons might be
The transaction hasn't been entered into QuickBooks yet.
In this case, add the transaction to QuickBooks, either by itself or as part of a group.
The transaction has been entered into QuickBooks but it has a typo (e.g. the amount is not correct) or was entered into the wrong account.
If this happens, correct the transaction in QuickBooks so that it matches the one in the electronic statement.
If the transactions do not match because they have different payees, create an alias for the name in the electronic statement to a name in QuickBooks.
You can also manually match the transaction in the electronic statement to one in the register.
The financial institution made a mistake and the transaction in the statement is wrong.
In this case, follow these steps to handle the bank error.
When all the transactions in the electronic statement have been matched or added to QuickBooks, the statement is deleted from the Items Received section of the Online Banking Center.
I added a transaction to the register. Why won't it match one in an electronic statement?
Undo matches that QuickBooks made
Add one transaction to the register
Add multiple transactions to the register
Handle a bank error
Mark a matched transaction as cleared (reconcile)