Thanks for being detailed about your concern, @Steven_ZA. I'm here to help you link the bank statement to the payment and expense.
In QuickBooks Online (QBO), the option to match both expense and deposit to a single transaction from Online Banking is unavailable. To help you fix this, you'll have to create a clearing account. This is used to move funds from one account to another. This is similar to a holding account where your funds are kept until you're ready to transfer them. Let me guide you how:
- Log in to your QBO account and go to the Gear icon.
- Choose Chart of Accounts.
- In the Chart of Accounts screen, select the New tab.
- Pick Bank for the Account Type. You can select any detail type you like for the clearing account.
- Enter the Name for the account.
- Ensure you don't input in any amount on the balance before clicking Save and Close.
To get more information about this, you can open this article: Set up a clearing account. This is a QuickBooks Desktop article and also applies to QBO when using a clearing account.
Once done, you'll have to put the payment and the deposit in the clearing account so the balance of the account can be zeroed by your bank. Then, match that to online banking.
When everything is fine, you can now reconcile your bank account.
You can also generate a handy copy of your reconciliations to have a reference guide in the future. To have one, check out this article for the detailed steps: How do I view, print, or export a reconciliation report?. You can either print or export it and save it on your desktop folder.
You can count on me if you ever need additional help with reconciling your bank in QBO. I got your back. Keep safe always.
