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Match downloaded transactions to ones in QuickBooks

After you download transactions, you need to match them to the ones in QuickBooks. Why?

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

  1. Open the Add Transactions to QuickBooks window.

    QuickBooks tries to match downloaded transactions to any entries in your register automatically. If a match can't be found, QuickBooks tries to create register transactions using renaming rules. You can review the matches before adding them to the register.

    What does QuickBooks look at to make a match?

    To make a match, QuickBooks looks at the:

    • Check numbers. If these match, the transactions may match.

    • Amounts. If the amounts are the same, the transactions may match.

    • Dates. If the transaction was recorded in QuickBooks within a few days of it clearing the bank, the transactions may match.

    • Payees. If the payees are the same or if the payee in the downloaded transaction has a renaming rule to a name in QuickBooks, the transactions may match.

      Payee renaming lets QuickBooks automatically convert a downloaded transaction's payee name into the customer or vendor name you use in QuickBooks because your financial institution probably won't call a customer or vendor by the exact same name that you do. This feature is available for online banking or online vendor payment.

      Aliases let QuickBooks automatically convert a downloaded transaction's payee name into the customer or vendor name you use in QuickBooks because your financial institution probably won't call a customer or vendor by the exact same name that you do. This feature is available for online banking or online vendor payment.

      For example, you might have a vendor called "The Bike Barn" in QuickBooks. But when you download transactions, your financial institution might call the same vendor "BikeBarn." You can create an alias to link the name, or part of a name, that appears in statements with the one you have in QuickBooks. Then QuickBooks can create new transactions in QuickBooks accurately, preventing incorrect duplicate entries in your books.

    Downloaded transactions that correspond to a transaction in this account in QuickBooks are marked as matched. If QuickBooks can't find a matching transaction in the register, the transaction stays marked as unmatched.

    See Also

  2. Review the status that QuickBooks assigned to each transaction and decide what to do:

    Note: Click Show to view new or matched transactions in the list; click Hide if you don't want to view them in the list.

When all downloaded transactions are matched and added to QuickBooks, the number to review in the Items Received section of the Online Banking Center is zero (0).

See Also

KB ID# H_OLB_MATCH_TRANSACTIONS
9/23/2014 1:17:10 AM
PPRDQSSWS402 9102 Pro 2013 eeea19