Banking

I can share a few ideas on how to handle your payroll bank transactions, @DarlaD2.

In QuickBooks Online (QBO), we can match a bank transaction to multiple recorded entries. However, we're unable to do it the other way around because of such reasons:

• The amounts or dates don’t match.
• The transaction is older than 6 months.
• The bank account on the payment isn't the same as the bank where the match is located.
• The payment has been reconciled.
• The record is already matched to another transaction.
• The system will look for transaction(s) that fall within a 10% range of the bank transaction dollar amount when trying to match foreign currencies.
• There are multiple currencies involved, and the exchange rate has shifted significantly, making the amounts very different.

Given these considerations, we can skip the matching process and consider excluding the downloaded transaction and manually clearing it in the Bank Register. Here’s how you can do this:

1. Go to Transactions and select Bank transactions.
2. Select the For Review tab.
3. Select the checkbox of the transactions to exclude.
4. Select Exclude.
   

Then, proceed to manually mark the transaction C or clear it in the Bank Register. Here's how you can do it:

1. Navigate to the Chart of Accounts.
2. Click the View Register link for the bank account.
3. Filter the funnel by Reconcile Status, Transaction Type, Payee, and Date.
4. Click the Apply button.
5. Locate the transaction, then mark the transaction C in the checkmark column.
6. Review everything and select Save once done.
   
   

Additionally, I'm sharing this reference to regularly guide you in reviewing your accounts: Learn the reconciliation workflow in QuickBooks Online.

Don't hesitate to reach out to us if you have further questions about managing transactions in QuickBooks. We, in the Community, are always here to help.