i recently managed to get the bank feed working i think via yodalee. but in my bank account in QF the items matched with bank feed are asking to be tagged - how do i do this as when i try to say it is a payment to a supplier e.g. it says no invoice matches this!! but i know there is an invoice as these items have been paid. what do i do here?? please help. thanks
If I’ve understood correctly, you already have invoices marked as paid, and now you’re trying to tag new transactions from your bank feed to the same invoices. Is this correct?
If so, as the invoice is marked as paid it’s likely to already have a bank transaction assigned to it already.
its the opposite, i had the invoices and had paid and marked them as paid when the first bank feed came in and those same invoices appear ad paid in the purchase side but as untagged in the bank account. i don’t understand why.
Have you paid them from prepayments on he suppliers account? These wouldn’t have bank transactions.
What you can do is view the list of attributed payments from the invoice. If you click on the payment link at the top of the invoice (just below the modify invoice button):
This will the list any payments associated with that invoice. Where possible, you can also then click the “view bank transaction” button and we’ll highlight it in the bank account for you:
Hi thanks for your reply to my earlier question, the topic closed so i couldn’t respond - i had to spend time on monitoring for my contract so couldnt check the response till now.
this is what shows in the QF current bank account
and this when iwent through the suggested sequence. it doesnt show the lloyds entry for that transaction for some reason as in the bank ac above
this seems to go for all the transactions
this is what happens if i just try to tag the item from the bank account - i am worried that it will skew all my figures what can i do?
I’ve merged your post back into the original thread for you.
Looking at your first screenshot, I can see the transactions have duplicated. When we import the transactions we check for 3 things to see if they are actually duplicates or genuine:
- Transaction date
In your screenshot the value would match, the date would match for one of them, but the description wouldn’t. This leaves two potential options:
Change your Yodlee feed duplicate checker to only check the date and the value. This would in this case catch the duplicates, but if you have lots of transactions around the same value it could catch some genuine transactions too
The other option would be to leave the invoices untagged until the feed has run. So rather than using the “Log Payment” button (which created the top two entries in the top screenshot), leave the invoices as unpaid and then tag them once the feed has run.
Does that make sense?
If you want to change the duplicate policy, view your bank statement in QuickFile, select More Options >> Bank Feed Details
And then change this:
Hi your solution makes sense, though a bit sad as i use the purchase page to inform suppliers that i have paid so wont be able to do that in that way. what do i do about the current ones that say i need to tag - also i dont quite understand the different bank entries theres the ones ive put in and then ones with long numbers and ones without - the latter two wanting to be tagged
do i need to un-tag all the ones i originally tagged? would that sort it? and how do i know if something has matched up with an invoice when the new bank feed runs, also do i need to do something to get the bank feed to go into QF or is this automatic with Yodalee? and how often does this run.
sorry if these are silly questions but i am new to these feeds and not great with tech or figures so was hoping this would help me simplify things. just confusing right now
thanks for your help so far
just a thought do I also need to leave the income untagged till the bank feed? is there any other way to confirm reciept of payment or that payment has been made within QF?
Yes, it would sort it - but you don’t need to do that. You can just delete the untagged entries if they are duplicates of the ones you have tagged.
If you have bank tagging rules set it, it could potentially log the payment to the client as a “prepayment” and you could then pay down the invoices manually using the account credit. It depends on how you work really.
The feed runs each morning at around 3am.
This could also work. When are the payments made exactly? Although the feed is run each morning, you can manually refresh it if you think the transactions have cleared (view the bank statement, More Options >> Refresh Bank Feed).
We added an option to send an email from the bank tagging process a while back. I’ll find the topic for you shortly and update my post
Email receipt of payment from bank tag
so to clarify
i need to delete the entries that are untagged as long as they match up with already tagged items.
in future don’t tag income or expenditure until the bank feed has run - this will automatically tag??
“If you have bank tagging rules set it, it could potentially log the payment to the client as a “prepayment” and you could then pay down the invoices manually using the account credit. It depends on how you work really.”
3) this bit i shall leave alone sounds like an extra layer of work!
sending email from bank tagging - how does this work if the bank feed tags the transaction? or do i still need to tag after the bank feed has run?
my payments are mostly done at night or weekend when I’m not delivering massages. so can probably wait for the morning feed.
what happens if i forget to input an expense and eg an online order and the bank feed comes through with a payment? will it match up when i enter the expense?
thanks for this support
Yep, that’s correct. The key thing is that your statement on QuickFile matches your actual bank statement (value wise). The descriptions don’t necessarily need to match.
It won’t automatically tag (if you have 2 sales invoices for £10 for example and you have a payment for £10, we have no way of knowing which invoice it relates to). But you can then tag it from the bank statement rather than the invoice (click the Tag Me! button, select Payment from Customer or Payment to Supplier, and select the invoice, or take the action as required).
It can be tricky to get right, but it’s optional. Again, it comes down to how you prefer to work. I know some users swear by the tagging rules, but other users won’t touch them
As above, the feed won’t tag the transaction, so this would still need to be done manually. By when you tag the invoice (see the answer to point 2), you will see an option to send a notification email which would be the same as if you used the “Log Payment” option. The topic I linked to above shows some screenshots of this for you to get an idea of how it works.
There are two options here then. If you use the tagging option from the bank statement screen (that is, using the data from the bank feed for example), then you can link to an existing invoice, or create a new one. With purchases the data on the account doesn’t have to be accurate and matching their invoice exactly - as long as the date, value and nominal code is correct, this should be enough for HMRC. Of course, you would keep a record of the actual invoice just in case it was ever queried (whether this be on paper, email or tagged and stored within QuickFile).
The other option would be to leave the transaction as untagged, create the invoice as you normally would, and then go back to tagging it.
The truth is - QuickFile offers various ways to work and everyone has their own “little way” of doing things (similar to saving a document for example - do you go to File > Save, Press the save icon or even press Ctrl + S?). As long as your data is accurate, everything should be good
Just to add to the bank tagging process above - there’s a guide, including screenshots, here:
i did consider using the QF invoice storage but again not really sure how this works if i scan and email an invoice how does this get recognised also if i receive an email invoice can i just forward it to QF, and what would i do with Amazon purchases where you mostly get an order confirmation. i have not had the courage to try it out yet. thought to try bank feed first.
would prefer to reduce the paper though
thanks i feel a bit clearer on the bank feed bit will try it all out next. and get back if i have problems.
Where there are duplicate entries, does it matter which entry is deleted ? ie either the entry from the bank statement or the entry from the Purchases page ?
Is the reconciliation case-sensitive ?
I can’t see how to get to Duplicate Policy ? I can see 4 (not 5) sub-menu items under More Options when looking at the bank account, but how do you get from there to Duplicate Policy ?
No. The key thing is that the date and value is correct, and if needed it can be traced if needed (e.g. you know what the transaction relates to). Once its tagged, you should be able to do this quite easily.
Do you mean the duplicate checker? I don’t believe so.
The policy can only be edited for Yodlee feeds at the moment. This can be accessed by viewing your bank statement, clicking More Options >> Bank Feed Details.
does the tagging work the same for sales as for purchases with the bank feed?
i have one sale that asks to be tagged, the corrsponding sale has not been marked as paid but the bank feed tag isn’t picking it up this from the bank feed
this from the sales management
also how do I tag payments that have paid 2 separate invoices in one payment? (this prior to bank feed input)
If you mean the bank statement page, then yes - the tagging process would be the same, except you select “Payment from customer” rather than “Payment to supplier”
There is a date range limit on the search, which I believe is set to 1 month by default. If your invoice doesn’t appear, you can use the Pay down multiple invoices or hold on account option, and follow that process after it returns no results - this would allow you to enter the client’s name and then select the invoices.
You can also change the date range if needed in Account Settings >> Advanced Features.
Follow the “Payment from customer” route, and when no results are shown, use the Pay down multiple or hold on account option:
thanks i will try that i didnt know what that was for!
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