How To Add And Match Bank Feed Transactions In QuickBooks Desktop?

19 Feb 2021

Are you done with setting up the issue of Add and match Bank Feed transactions in QuickBooks Desktop? However, if yes then the subsequently you have to Add and match Bank Feed transactions in QuickBooks Desktop. This blog will always help you in adding and matching the bank feed transactions with simple steps.

Steps to Add and Match bank feeds using Express Mode

Step 1: Getting the downloaded transactions

  • At the first step, you have to open the Banking menu.
  • Tap on the option of Bank Feeds and then choose the option of Bank Feeds Center.
  • Now, you will review that how QuickBooks categorized the transactions, to review follow the steps given below:

Unmatched: Downloaded transactions do not match any transaction.

Renamed: A new transaction using rename rules are created in QuickBooks. Any transaction in the related account in QuickBooks does not match the downloaded transaction.

Matched: A match is found by QuickBooks between the downloaded transaction and the other transaction is already in the related account.

Step 2: Matching the downloaded transactions

Any entries that are previously in the QuickBooks account always try to match them to the downloaded transactions. QuickBooks always tries to create a new transaction for you automatically and if it can’t find a match. 

Guidelines to Add and Match bank feeds using the Classic Mode?

You need to add and match the transactions to the ones in QuickBooks after you download your electronic bank statement. This way, you can specify what transactions your financial institution has processed and the ones which haven’t cleared the bank yet. 

Step 1: Getting the downloaded transactions

  • In the Banking menu, you can Choose Bank Feeds.
  • Open the option of Match Transactions window.
  • Ensure that the correct bank account is showing the Financial Institution dropdown.
  • Hit on View button and download the electronic statement.
  • Always ensure that the Show Register checkbox is selected from the Match Transactions window.
  • You will see that the results once appear and QuickBooks finishes matching your transactions.
  • To close the window, you have to tap on OK button.
  • QuickBooks has assigned each statement a status, and review it.

Step 2: Matching the downloaded transactions:

  • The transaction in the electronic statement needs to be matched with the ones you have entered in QuickBooks.
  • After that, you need to do if you agree with the match.
  • Now, Unmatched the transactions if you do not agree with the match.
  • In case of unmatched transactions, the transaction in the electronic statement does not match to the transaction in the account for QuickBooks. 
  • You will need to add the transaction to QuickBooks if the transaction has not been entered in QuickBooks.
  • You can match the transactions manually.
  • If the transaction in the statement is incorrect and the financial institution have done a mistake.
  • Finally, Tap on match button to match it.

After following all the effective steps, you can add and Match Bank Feed transactions in QuickBooks Desktop. To know more about it, you can get in touch with QuickBooks helpline support team efficiently and effectively.  Give it a try!