QuickBooks Online Banking has been around for a while now so most people know how to use it. The trouble with doing tutorials based on it is that you really can’t use sample data so most of my teaching on this topic has been reserved for for private sessions. One thing that does come up frequently and it is not always clear how to handle it is when you initially download your transactions using the online banking module in QuickBooks. The downloaded transactions go into a que and depending on your bank, the very first time you download the transactions may go back a ways in time. By now you have likely entered and reconciled everything and QuickBooks will not let you match up a reconciled transaction from the online banking. So you need to delete the extra unwanted, unmatched transactions from the que.
The solution is simple, but it may not be obvious. Simply delete the Que once you have confirmed that everything you DO want has been added into QuickBooks from the Online Banking Download Que. Not sure if that makes sense? Watch the video then post your comments and questions below:
Good article and great video!
I don’t use on-line banking but I’ve heard about some of the issues people have. I’ll be sending them to watch your video!
Thanks! I have been trying to think of clever ways to cover this without actually showing my banking information to the general public
Thanks! This helped a lot!
This reminds me of a cash based client who had several thousand open estimates, sales orders (that had never been converted into invoices), and unpaid invoices and wondered if they could uncheck or void them from their company file. Sometimes the simplest solution works the best.
Actually the open estimates and sales orders can simply be marked “closed”. Several thousand might take some time though
Thanks for sharing! I was just about to have a little cry because I hadn’t supervised my bookkeeper closely enough over the last two weeks. You solutions will fix things up efficiently.
Nerd,
Thank u so much for sharing this tidbit. Even though this OLB thing has been out for a long time, I have been working w/ QB @ my place of business for 15 years and have just now started to use OLB…. so it is new to me. Yesterday, I spend ALL day with this very problem…. on the verge of tears because I just could not figure out how to use this thing and get ride of all this crud from a year ago that was in the que. No one @ the bank could help bc no one knew how to use QB well enough…. and I didn’t really want to call QB support and spend an arm & a leg per minute w/ them and still not understand what to do in the end. I did post my question on the Intuit Live Community which I find helpful @ times but still have not rec’d an answer on this issue. So once again, THANK YOU! I had all but given up on this whole idea of online banking for our business but this may give me a little boost to keep trying to learn. ; )
I am so glad this helped. My experience has shown me over and over that when there is a will there is a way. Always. So anytime you have questions or you get stuck please think of me and think of “Nerd’s Blog” and of course.. tell all of your friends and colleagues about me
Is there way to assign the download CC transactions to Item rather than an expense account.
Yes. You have to add it in as a credit Card charge instead of directly into the register. This is the second option you are presented with when you are adding them in. Once you are in the Enter Credit Card Charge dialogue choose the items tab at the bottom and then you can select the item(s) being purchased.
sooo…there’s no way to link the bank statement infos (where you downloaded) with the bill that you put in the vendors account?
If one of the downloaded transactions is a bill payment and you haven’t already recorded it in QuickBooks then you will need to add it in as a bill payment (which there is an option to do) from the download queue. If you have already recorded the bill payment in QuickBooks then it will show up as a payment in your check register and QuickBooks will automatically match it up.
any way to bring back the download queue. Deleted by accident
Unfortunately no. You can try going directly onto your bank’s website and manually downloading the .QBO file then see if you can import it: ‘File’ -> ‘Utilities’ -> ‘Import’ -> ‘Web Connect Files’
You may get a notice that says no transactions were imported (because it thinks they already were). If that doesn’t work then what I find works best is to download the transactions into a CSV (Excel) file so that you can at least format it in such a way that it makes it quick and easy to enter the data quickly.