QuickBooks banking accounts are often out of sync with your financial institution:
They may contain transactions that have not yet been processed.
They may not contain transactions that have already cleared.
The transactions you downloaded are ones that your financial institution has processed, plus your current account balance as your financial institution sees it (which may be different from how it appears in QuickBooks).
You can use this information to bring your QuickBooks accounts up to date, which makes reconciling faster and easier at the end of each month.
The Downloaded Transactions pane lists transactions for you to review and add to QuickBooks. You then
Match transactions in it to existing ones in QuickBooks.
Create new transactions and record them in QuickBooks:
Record a deposit or expense
Record a bill payment
Record a credit card charge, payment, or credit
Record a liability account charge or payment
Alternatively, you can open and go to your register, invoice, payment and other windows and create new transactions that match downloaded ones. When you return to the Add Transactions to QuickBooks window, the new transactions should automatically match the downloaded ones. You can then confirm the match.
If you go to another window from the Add Transactions to QuickBooks window and you have made changes in the right pane, you will lose those changes. The exception is when you press Ctrl+E to edit the transaction in the window for that transaction type. In that case, any information you have entered will be transferred from the right pane to the new window.
Downloaded transactions remain in the Items Received area until you have matched all the transactions in them to ones in QuickBooks.
Downloaded transactions do not replace paper statements. You should still receive paper statements by mail from your financial institution, which will be used to reconcile your account the way you usually do.