Match Transactions

Why can I not see the Match Transactions button on my Bank Statement page? The only way I have of recociling my bank account seems to be by deleting either the autofeed bank entry or my manual invoice entry!

There used to be button on the bank statement page called “Match Transactions” this has now been renamed to “Reconcile” but effectively it does the same thing.

This tool is explained in the link below but essentially allows you to compare the balance with your actual bank statement with the transactions in your Quick File bank account.

Trouble is that the help link still refers to match transactions! What is happening is that I mark a purchase as paid which enters it into the bank statement, the live feed then enters the cheque when it clears giving me 2 withdrawals on my account. When I tag the cheque to the (already paid) purchase invoice I still have 2 withdrawals logged. I need to match up the cheque entry with the invoice entry and only have the one payment logged!
At the moment i am just deleting the live feed entry.

The button I believe was only renamed a week or so back, we’ll get the help file updated shortly.

The problem you describe occurs when you’re manually logging payments and importing the feed. The feed doesn’t know 100% that any transactions brought in relate to invoices you’ve already manually assigned payments to, so it will just bring in the bank entry and leave it untagged.

If you’re getting a daily feed I would suggest not manually marking any invoices as paid, all you need to do then is simply link the untagged feed entries to your invoices. Use this method and you’ll never need to reconcile your bank account.

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Thanks Glenn, I thought that’s what I would need to do but I hoped I could mark the invoice paid so that I know it’s been done. Some customers take a while to submit the cheque and I don’t want to pay twice!!

You can still use this method, this is the traditional method of bookkeeping after all. You just need to remember to delete the duplicate that the feed brings in (i.e. the Untagged entry).

You can also move the date of an entry from the bank by clicking on the actual date in the far left column, this is often needed with manual reconciliation as the actual payment date as per the bank is usually a few days later.

With cheques the other thing you can do is create a separate bank account in QF called cheque holding account. Pay any cheques straight into there, this will mark the invoice as paid. Then a few days later when it clears just tag the entry on your current account as a transfer to the cheque holdings account.