How to match Credit Card payments with Bank transactions in QuickBooks ?

How do I match the payment into my bank account with the paid invoice, and how do I remove the payment from “Un-deposited Funds”?

Asked on January 3, 2019 in Banking.
1 Answer(s)

Hello Carole,

Thank you for taking some time to explore our community and posting your questions!!! This post will let you to match your transactions and also you can know how to handle duplicate credit card charges in QuickBooks Desktop. In QuickBooks, when you download the transactions from your bank website in bank feed center, QuickBooks will try to match with either by Check number or by Amounts or by Dates or by Payees. Sometimes you will find that QuickBooks won’t match the transactions if it’s a new file or may be the transactions were already downloaded or it might be reconciled previously.

Below the screen where you will find an Express Mode in QuickBooks. Here you can use Transactions List window to add or match transactions. In this mode, by default rules are created automatically. Press the Transaction List to view the downloaded transactions list.

Note that if there are no downloaded transactions ready for adding and matching, you will see Download Transactions instead.

In order to get the right solution, please select the exact scenario which you’re experiencing. With the help of the steps above you would be able to match transactions successfully.

On the other hand, let’s check below how we can remove the payments in the Undeposited Funds Account in QuickBooks:

The first thing to keep in mind before this is to see if the below points:

  • Before nay changes, make sure your bank account is reconciled.
  • Identify the deposits where it’s incorrectly recorded in the account.
  • Reviewed the AR Aging Summary report before any changes.

Now once you figured out the everything, follow the below steps to delete the payment as below from the undeposited fund account:

  • You need to see if the amount was wrongly deposited for each year are too old or not.
  • After you analyzed the undeposited funds items, you can start removing these by selecting menu called Banking —Make Deposits. This will open the Payments to Deposits dialog box.
  • Select or put a check mark to those payments with the dates which you are correcting. Click OK.
  • On the last line, enter the account to which the incorrect deposits were originally recorded.
  • Once you are done please check the net or deposit subtotal is 0.00 in the screen and your next bank reconciliation.

If you are still unable to resolve this, please call our QuickBooks Helpline 1-877-263-2742

Answered on February 13, 2019.

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