and now we will learn how to fix matching mistakes in quickbooks online bank feeds there are two
common problems associated with QuickBooks Online matching transactions the first common mistake
is that people click Add and therefore agree with the auto match suggestion when in fact they should
have changed what was there the second common problem is that you cannot match because the
bank or the bookkeeper recorded the wrong money amount let's address the first problem what if
you match the wrong one well the transaction is already in QuickBooks so matching the wrong one
won't affect your financial records the only thing that happened is that the transaction wrongfully
came off of the review list you have to send it back to the review list so you can match it to
the correct one well there are two ways to send it back to the review list you can just click on
do which I'm about to show you or you can open the transaction and click on match so let's go
back to QuickBooks Online here's the review list where the transactions that we just matched are
no longer there they're in QuickBooks and when we click in QuickBooks we get the two transactions
that we just matched from from the previous video now one way to undo the match so that you could
send it back to the review list and match it to the correct one you simply click in QuickBooks
come to the right and click undo now that July 31 for 30 dollars is removed from QuickBooks and it's
back in the review list if I click for review here it is $30 July 31 and it again suggests the same
match okay what's the other option I spoke about a moment to go open the transaction and click
on match that will move it back to the review list while keeping the original transaction in
QuickBooks and then you can match it to the right one so if we go back to in QuickBooks
there's only one left in QuickBooks because we removed the other one now you could click undo
but you can only click undo if you're finding the transaction here in the bank feed Center what if
you find the transaction in a report and you open it up and it looks like this and you know
that it should not be matched you need to send it back to the review list without affecting
the actual transaction that was recorded so your other option is to go right here to the top left
and click online banking matches this choice will be available if this is a matched transaction and
it gives you the details and all you have to do with click on match once you click on match
you can go back to the review list and you can see it is no longer in QuickBooks if you click
for review you can go down to June 12th and see that this suggested match has now been returned
to the review list now let's address the second type of mistake that could happen when matching
transactions and QuickBooks Online Bank feeds what if you cannot match because the bank or the
bookkeeper recorded the wrong money amount well here's what I recommend I recommend that if it's
your mistake I suggest you edit the transaction before matching it or excluding it edit the normal
way that you learned in previous videos if it's the bank's mistake show the bank the check or the
deposit slip and have them fix it then exclude it from the review list because the result of
matching is the same as excluding it makes sure that you don't double count transaction what I do
not recommend is that you click the button at the bottom that says resolve differences in my opinion
that is a very bad feature and will only cause problems this will create a new transaction for
the difference in money amounts that will make your records inaccurate and it will make the
bank reconciliation that you do at the end of the month more difficult so let's take a look at how
we would do it even though I recommend against it so let's imagine this hundred dollars is matched
to the wrong one with the auto match suggestion you can click on it and when you open it up it
will give you a list of every other possible match that you could match it to so you could match it
to the other June 12 which is what it's suggesting or you could match it to the other hundred dollar
transaction on May 25th but if you open this blue bar the only suggestions you get are the
ones with the exact money amount if you want to see suggestions with different money amounts
you have to click this button find other matching transactions and then you'll notice the ones with
the same money amount plus some other possible matches would show up here now just to show you
how terrible this is let's imagine we're going to match this hundred-dollar transaction that was a
download that was recorded in QuickBooks with the 30 dollar transaction that was downloaded
from the bank so if I want to match something with a different money amount I click this one that I'm
going to match this one and it says there the difference now again I don't recommend you do
this but if you click resolve difference what's going to happen is QuickBooks is going to add a
new transaction and the new transaction will be the friends and money amount so in this
case it's going to add a $70 transaction just to adjust for the difference your books and records
are now a total mess don't do it this way even though that feature is included if you notice
the money amount is different click on it and edit it and make it the correct money amount