How to use Bank Feeds in QBO - 2022

[@MonnaQ]

Thank you!! New Bookkeeping student here. Don't stop making QBO videos! xooxx

[@lindabaker2424]

Thanks Clara! I am new to QB and you are the only channel I like to watch! Your clear, concise, and calm way of explaining stuff is so helpful!

[@ClaraCFO]

Thank you! I am glad it is helpful!

[@Lightnite12]

How have the past 11 months been, Linda?... Considering this move, but it seems risky.

[@jeffmonchamp1324]

You mentioned to be careful not to create duplicates, I am sure I have lots! Do you have a video on sorting duplicates out?

[@digitalmarketing6880]

I am watching all videos. You have explained things amazingly Clara. Keep it up.

[@ClaraCFO]

Thank you! I appreciate the encouraging words!

[@GayleRomay-o5h]

Really loving your videos on QB, super helpful , you explain everything in simple , clear terms. QB is a bit overwhelming , so glad I found you

[@ClaraCFO]

Glad you like them!

[@highlifeswisher]

Hey Clara....These videos are great. It has helped me so much, and I do feel empowered. I'm going to dig into all your QB videos to learn as much as I can. I am solo running a new business and I want to get a good foundation of booking keeping before I hand that off to someone else. I think this will probably be the first business system that I will let go of first and you're helping me get closer to that moment so thank you again.

[@Infinitemila]

Hi mike, I’m a bookkeeper working remotely and I’d be happy to help when you’re ready :)

[@digitalmarketing6880]

Hi Sir, if you want to hire a bookkeeper in the coming days, let me know plz. Thanks.

[@nathanielklassen2309]

Thank you so much for your videos!! Very clear, easy to follow and very helpful!! Very educational! Thank you! I have been able to reconcile several months in QBO without working through the bank transactions and adding them into the system. Now I am not sure if I totally did it all in order as far as reconciling. What I have been doing is, I upload receipts, fill them all out properly and then head over to reconciling. I have been able to reconcile without any problems. However, Now, my question is this. For reasons that I do not know, am I still suppose to go through all the bank transactions of those months already reconciled and add and/or match transactions that have been reconciled to make sure all things are cleaned up and up to date?? Moving forward I would like to do do this anyway, but I am wondering if I would be messing anything up if I clean everything up in the transactions as described in the video even after I reconciled. We started business in July 2024 so it wouldn't be that much, but still would like to know whether it would mess any thing up if I went ahead and did that. Also, how important is this even if you are able to reconcile without doing it?? ~ Elizabeth

[@connienorve3040]

Hi Hanna, Thanks for the video on bank feeds. It was a little fast for me, but that may be because I am a new user of QB. I do have a question - I am helping a friend set up QB for their business which changed to an S Corp Jan. 1st. I am trying to determine the best way to sort and enter data from Jan 1 to June. Do you have any tips? Separate business accounts are now set-up but some of their previous accounts had personal and business expenses mixed.

[@KathrynLeaphart]

Thank you for this video. Very informative.

[@ClaraCFO]

Glad it was helpful!

[@SunstateTransportationGroup]

Very informative, loved it. Thank you so much

[@Ahead-by6vo]

Hi Clara! Thanks for the video. If a new client does not care much about previous year transactions, but want to start fresh from Jan 1, 2024. The first time bank feed pulls in data from 2023 and Jan 2024. I would assume to add all the 2024 transactions. How would you handle the previous December/November 2023 transactions? If the latest bank statement in January 2024 (to reconcile) also includes some Dec 2023 transactions? Thanks for your time!

[@etomky]

I am new to QB and my responsibilities to use it. I would appreciate you going just a bit slower. I have subscribed because I like your concise videos.

[@ClaraCFO]

Thanks for being here, and I appreciate the feedback! It's a challenge to get things concise and slow enough at the same time, but I will try!

[@thedpkayway413]

Go slower 😆 🤣 😂 it's called pause and rewind

[@lorikmor]

This is helpful, but a little too fast and jumpy. Please slow the mouse down. Too hard to follow. How were the accounts set up in the bank feed? I would like to see each type of transaction identified. Invoice, check, credit card, autopay, debit card, wire, etc. It is important to identify whether or not it is an AP transaction. I would like to see it be more comprehensive.

[@audraminter1410]

You can always use the gear button in the video and slow down the playback. I use this a lot to speed up the video when the video maker seems to be speaking super slow!

[@mfurnace1]

Thank you so much for these videos!

[@ClaraCFO]

Thanks fun watching!!! 🙌

[@Strongs_G3528]

Thank you for this video Clara. I have a question. Once all the banking transactions have been “effectively categorized”…what can we, or what should we do next? Thank you in advance. Tony

[@ClaraCFO]

Once you have categorized all your transactions, you can review your financial statements for the period!

[@Strongs_G3528]

⁠@@ClaraCFOIndeed, Thank you Clara!

[@bobbiezarate2447]

Yay🤗!!! Just what I needed😊 Thank you So Much🥰

[@ClaraCFO]

Great! Glad I could help!

[@bhasselb9967]

You just saved my liiiifffeeee! My only problem is that the bank won’t link - likely an issues with the bank - so I’m having to try to pull everything manually. Tried uploading the csv file but it’s adding everything as money in instead of money out.

[@ClaraCFO]

If you edit the .csv file you can still do the upload! You just need to make sure that you tell the upload to read the information correctly - which might require editing the .csv to get it to work.

[@julieculp7734]

Enjoy and need your videos. Very helpful. Thank you

[@mohammedkhan-pb7st]

Thanks Clare, great video. I'm new to QBO and having a problem setting up my bank feed, hoping you could help. My bank account has three sub-account which I need to track them separately, my problem is that when I connect to the bank it brings all the transactions into one sub-account, how can I move the transactions from one sub-account to another?

[@ClaraCFO]

do you have a statement for each subaccount? Usually during the linkage, subaccounts are recognized and you can assign a different bank account to each one. Were you not given that option? I would consider disconnecting the linkage and trying again to see if you accidentally skipped that step. You will need to set up 3 different accounts in your chart of accounts so you can map each sub-account in your bank to a different account on your chart of accounts. I hope that help!

[@denarmartin]

Great video, Hannah! Keep up the great work =)

[@ClaraCFO]

Thank you!! 😁

[@NorthernCAT]

Here’s something I haven’t seen covered yet. I want to only use Quickbooks as an accounting software, how do I import transactions from customers that I bought products off of, keep track of, and mark the items out when they’re sold without using Quickbooks as a POS?

[@maialbert9433]

Thank you for your videos. So informative

[@WILSON.1]

I hope bank feeds will dramatically cut down the time I spend on quickbooks. It doesn’t make sense for me right now to hire a bookkeeper, but it takes so much time for me to catch up on quickbooks each week, I’m not sure if I’ll have the discipline to stay on top of it.

[@ClaraCFO]

I think the rules function helps speed up the process too! Especially if you use the same vendors all the time. Hiring a competent bookkeeper can be a very wise investment though!

[@mg22rogers]

Hi Clara, just getting started with QBO and your channel. Thank you for making your courses easy to follow (even for non-accounting types :). Our previous accountant incorrectly categorized most of our transactions. Do you know of a way to move multiple transactions from an incorrect category to the correct one?

[@ClaraCFO]

The only way to do this is to use QBOA, the accountant version of QuickBooks online. There is a reclass feature (that I think they should roll out to non-accountant versions…. But hey, no one is asking me!)

[@jayantumapon8637]

Just watched your video. Done subscribing thanks much.

[@janelledavis157]

subscribed! thank you for the great video! Appreciate you.

[@ClaraCFO]

Thanks for watching!! I appreciate you!

[@ELLAINELOPEZ-pn6wc]

What to do with the duplicates? Do i need to delete? What of I accidentally matched or categorized items wrongly , can i still edit it out? what of I already reconciled the bank, or do I need to edit or check it out before the bank reconciliation process ?

[@TheTomlaw1219]

Hey Clara, do you have any videos that explain/teach how to do expenses between companies? For instance, someone has a company that owns other companies? It’s my understanding that each company has to have their own QBO subscription, which seems like it can make things more complex. Any help or advice is greatly appreciated. I love you content, keep up the good work!

[@digitalmarketing6880]

Hi Tom, Quickbooks accountant can manage your companies in the best way. Yes, you have to buy separate subscriptions for both companies. I'm an accountant and QuickBooks Pro advisor. Let me know if you need any help. Regards

[@tfuc_parkourboyz1587]

Hey, I can't find any videos on KZbin on how to handle return/credits in bank feeds. I have a roofing company and we rarely return tools and materials to stores so I do not run across it enough to have a problem but we have recently.

[@ClaraCFO]

For returns, I generally code the incoming money to the same account that it was outgoing. So if I purchased something from Home Depot and coded it to "Building supplies" then I returned that thing to Home Depot, I would code the incoming money as "Building supplies" so that the two amounts will net out over time. I'd do this even as a partial return.

[@erikaclifford9458]

If you add something by mistake, is there a way to correct it? Thank you for these videos, they have been very informative. We are just getting started with QBO and have little accounting background.

[@ClaraCFO]

Hi Erika, Yes! It's very easy to fix something you've done in the past. To find the transactions you have already added, you can go to the "bank register" and find the transaction to edit it. All the bank transactions need to be added to the books in order to reconcile, so you probably just need to recode the transaction or unmatch it and match it to something else (like an invoice or a bill). Want to tell me more about what happened? This is a great idea for a Short. I will link that here when I record it!

[@erikaclifford9458]

@@ClaraCFO thank you for the quick response. We haven't done it yet, as we are just getting started. I've been trying to learn as much as I can, so that we configure QBO right the first time. I'm sure we'll make some mistakes along the way, though. ;)

[@pgurupira]

Thank you for these videos ... Very helpful and great detail. Quick question(maybe it will be answered in another video) but I take cash out weekly to pay some of my staff - how do I add these?

[@ClaraCFO]

Glad they are helpful! If you are paying people and not wanting them to get a 1099, then you need to take out money as an "owners draw". This would be if you are "paying under the table". However, if you want to pay them as a business expense, you need to set them up as 1099 contractors and there are a bunch of ways you can pay contractors. You can pay them in cash, but you would still be able to record it as an expense. The real question is....do you want it to be under the table cash to them or do you want to take it as a business expense. I'd recommend keeping everything "above the table", set everyone up as a contractor, and pay them accordingly.

[@Williamsikueze]

What version of quick book can someone who is not a business owner will use and practice with hypothetical figures data since i cannot create mine, currently i am not working with an accounting firm but i need to learn quick book to enable me apply for jobs.

[@kimshafferlcpc9391]

How do you determine if it is a match or an add when reviewing the bank feed?

[@sharisayers2777]

Great video!

[@ClaraCFO]

Thanks!

[@KazaRemodelelingSolutions]

Hello, can you do a video on how to link a BOA sub account ?? It so different from all of these videos. One account shows money that has been piad to the credit card, and other account shows the purchases that were made with the credit card. Its complicated to reconcile.

[@MuhammadAbbas-edu]

thanks I have a question because I am from Pakistan how can I connect my bank with quickbooks Here is no options

[@Abhifit25]

Hey ... After bank feed transaction charges, Expenses are positive balance showing &. Income was nagetive why ? And how can setup problem

[@-BeingMuslim-]

Hello... Mem.... How we make into the right account.... I mean what ythe right way....

[@sktnepal06]

What to do in reconciliation in QuickBooks Online if transactions are not in the bank statement but matched and shown in reconciliation, uncheck, or how to fix it?

[@fernandadossantos9513]

Your videos are helpful, I just started watching them yesterday. I am behind on taxes because I have not kept up with QuickBooks partly because I do not know how to use it properly; do you take on clients to individually help them? I'm trying to get it in order so that I can maintain it weekly.

[@ClaraCFO]

Thanks for watching Fernanda! My company does not do bookkeeping, so we don't do catch-up engagements. You could try looking at the Quickbooks Pro-advisors to see if you can find someone who can help you with a cleanup/catchup project!

[@cherylbodette9637]

You didn't fill in Payee when you were going through the bank feeds. Is there a reason for this?

[@mompreneurcafe]

Hello, I'm a new subscriber to your channel. First, thank you so much for these videos. They're absolutely great! Definitely the easiest to understand out here. I'm a Finance Manager for a company. At month's end I make sure all posting is complete and I make sure to Match when available. Then our CPA does the reconciliation. I seem to keep running into the same issue month after month. I hope you can help. When I receive a bill I enter it in under the vendor. Then when the bill is due I create the check for that bill. When I'm posting, I match the transaction QB pulls from the bank to that one that I entered. Up to this point I'm fine. The issue is when I run the P&L. I'm getting double transactions and it completely throws my numbers off. It's basically doubling my expenses. What am I doing wrong? Am I missing a step? Is it possibly something our CPA is doing or not doing? TIA for your help.

[@ClaraCFO]

I think the problem is is happening when you create a check. You should "pay bill" and then "print checks" which will match the bill payment to the check record. This will make sure you don't have a duplicate!

[@johnmiller4858]

Good videos. Still need some help. I am a long time desktop user running 3 small businesses. Never used bank feeds. I just reconciled from the bank and credit card statements and most transactions were already there. Now I work for an accountant as a bookkeeper. I am struggling with deposits coming in from the bank feed that are invoices paid through QB online payment system. It looks like the amounts are payments for multiple invoices for multiple customers with very little detail. Seems like no way to match those. Tried QB phone support and that was horrible. Any suggestions on how to match or what to do with these kinds of deposits? I just can't book them as revenue because that doubles up revenue and cash. Thanks.

[@johncyr3916]

My son has several bank accts connected with QBO. He gets the updates but then they stop and he has to continually enter in a OTP for each acct to update them again. Anything in QBO to help with this? or is this a bank issue?

[@missybook8307]

If there are multiple deposits at one time adding up to example 35k and there are several. How do you separtae them?

[@ClaraCFO]

You will need to make sure that you have a record (invoice or sales receipt) in the system for what each deposit should be matched to first. Then when you are in the bank feed, you can choose "find match" and select the transactions that the total $35k adds up to. So if it's 3 invoice from multiple customers, you should be able to select those. It will mark those invoices as paid.

[@ForClarityCompany]

just subscribed to your great videos. I am struggling with deleting bill payments waiting to 'send/receive' to the financial system. Without spending time on the fiasco that has led to this I just have one question. How do I delete those transactions from the send/receive. I am stuck in a 'loop'. Unable to pay any bill due to a message 'there are currently online tranactions to send for this account......unable to change or do anything until the transactions are sent or deleted'. Spent hours trying to delete those transaction and hours on the phone with QB. Anyone know what I am doing wrong. OR if Clara has a video about this. I am stuck.

[@ClaraCFO]

Ann - thanks so much for joining us! I unfortunately haven't run into this problem before. Did you check to make sure that your banking information is correct? I'd look at Hector Garcia's videos and see if he has any answers for this. Maybe search in KZbin "Hector Garcia bill pay" and see what you can find. I am so sorry!

[@victorpoliashov2467]

my QBO doesnt show the checking balance/ vs quickbooks balance box thats (blue/white) in this video, how do I turn these on?

[@ClaraCFO]

Can you change it to a accountant mode? Go to the gear icon and I'm the bottom right, it should give you the option to switch to accountant mode.

[@victorpoliashov2467]

@@ClaraCFO Thank you that was it!

[@sharonbaker6738]

This was great

[@florak1087]

Love your videos! You make it more logical with what may happen and how things work in this system. Us newbies really appreciate that. Clara, when you are matching a payment received and are looking at the pop-up window of the invoice that is being applied, there is a 'clear payment' button under the dollar amounts. Do you use this to clear a payment? I am asking because the guy that I help with his books does not receive payments when he has checks to deposit and just writes up the deposit book and forgets this process. What will it do in the system and how can I change that after the fact?

[@florak1087]

can you do a video (or send me to the one you may have already done) about that 'clear payment' button? Please and thank you.

[@MandyPodd]

Hi, how do you handle an overpayment of an invoice please..? (Invoice value = £1,000 but say the payment in the bank feed + £1,200..?)

[@ClaraCFO]

Hi there, hopefully this video can help answer your question: kzbin.info/www/bejne/bKWqk2Njdt-Le9E Tune in at 5:03

[@kristinestith1305]

Thank you for creating this video, unfortunately it was not basic enough. I can't find where to view the receipts in order to match them. I am paying EVERYTHING with the same credit card, then only paying that credit through the bank account. is there a specific video you have recommend

[@ClaraCFO]

Hi Kristine - deposits coming in would match to invoices if you are using the invoice function. Here's one of Hector's videos: kzbin.info/www/bejne/o5TFiHqYdqaaY8k

[@robertgates6196]

Hi Clara. Love your videos. I do have a question. I have credit card processing. So at end of day it closes out batch and sends it to checking. Every thing was going good until I started giving refunds. So lets say for example I had a sale for $2200.00 and I refunded $900.00 that day the Credit Card processing would show $1300.00 deposited in checking.$1300.00 doesn't match up to any transaction. I no what two do but don't no how to input it. Can you help. Thanks Robert

[@Prismcrafts]

Please help me about quickbook

[@gellerpricebookvideos4159]

Great video as usual Clara. Question. I use desktop and in desktop I like classic mode best. In classic mode when you download things that match are AUTOMATICALLY marked as matched. typically you don't gave to mess with those, only unmatched. Its possible to have almost all of the downloads automatically matched. in online can it show items that automatically matched. I watched your whole video and maybe I missed it, but looks like you have to "go find a match" in QBO. yes/No? Thanks, david

[@ClaraCFO]

If the system doesn't automatically recognize the match, then you need to go searching for it. MOST of the time QBO is good at recognizing things, but the demo account I am using is really lame and didn't have most of the items automatically matching for some reason. Hope that helps!

[@dswift3473]

appreciate you for real thank you

[@elishaphillips5707]

I have run into an issue of deleting some transaction after reconciliation and don't know how to undelete them, also some of the transactions have c by them and some have the r by them...can you please tell me what this mean in the bank register?

[@denarmartin]

R means that you've confirmed them through a formal Reconciliation. C means that the transaction has cleared the bank and the system knows this only because it was either matched to the bank feed or was entered from the bank feed.

[@mahfoozansari6928]

How about e invoice for Saudi Arabia

[@deborahduffy5878]

What if the deposit is matching with the wrong invoices, how can I fix this? The correct invoices won't pop up when I click on find match.

[@ClaraCFO]

You are right to look for the right invoice in "find match" - you may have to change the date range of the invoices in order to find the right one to match it to. The system is half-smart. It will apply a match, but you always need to review it and make sure it's matching to the right thing!

[@5RHomestead]

We transfer money (invoices customers have paid) from our QBO bank account to our other bank checking account. It is coming up as a match for an "expense" with these. Is this correct or do I record it as a transfer?

[@denarmartin]

If the entry was made in QBO as an expense and you look at the original expense transaction and confirm that it was the correct transaction that's represented by the bank feed entry, then you can match them. I often enter transfers in an Expense "form" instead of the Transfer "form" because it gives you more fields and more flexibility should it need to be changed in the future.

[@eliznafourie5050]

We are a contracting service and our customers pay us a deposit before we start work. Now this money received comes in through my bank feed and I need to review it and add it so that it shows up on my bank account. When I open the transaction, the choices are only two: either deposit or sales receipt. Neither of these 2 give me a credit to the customer. Is there anyway that I can do this without first having to do a "receive payments" step beforehand so that QB can then match the two up when going back to bank feeds?

[@ClaraCFO]

Elizna - do you invoice your customers for this money? How do they know how much to pay you? Ideally when the money comes into the bank account it's getting matched to an invoice. Maybe you are doing invoicing in a different system?

[@eliznafourie5050]

@@ClaraCFO We only invoice after the job is finished. They pay the deposit based on the quote we give where we specify the deposit amount. So when the client pay the deposit, there is no invoice in my books yet. I just want to record the payment so that it reflects as a credit to the customer. When I then make the invoice, I will then take the credit as part payment and show what the balance is due.

[@dayanrocha760]

Thank you!

[@ClaraCFO]

thanks for watching!

[@kevywilliams3304]

Scroll to 2:30

[@kingafigiel5941]

this video is about posting transactions not about connecting banking feeds in QB

[@lauriefusia1159]

Thanks!

[@alanhart9992]

I do!

[@michaelbarca169]

Trying to match things is basically a time waster. I use bank feeds to enter missing transactions, usually debit card transactions or handwritten checks that you probably will have to look up online with your bank. And it's equally useless for customer payments and deposits and can create a real mess. After using it to enter missing transactions, reconcile the month, and then go back and remove all the garbage in bank feeds up to the closing date of the bank statement you just reconciled. If you have many payments from customers that are around the same amount, QBO has no idea who they are for or what invoice they are for. You should already have received these payments into the system and deposited the money. If they are Intuit Payments, they should already be automatically received and deposited, though sometimes Bank Feeds screws these up too.

[@ClaraCFO]

Everybody has their own way of doing things! I use the bank feed as my "source of truth" because there is less room for human error. But I can see what you are saying too!

[@grantwilson3105]

The matching process is basically reconciling the QB bank account with the bank statement. It speeds up reconciling the bank account so it is not a waste of time

[@Lightnite12]

Id like to hear from the folks who gave this a shot, but it DID NOT work out...and why?

[@williamburke2888]

I already have QBO simple start. Can I upgrade through your affiliate link?

[@ClaraCFO]

unfortunately the discount code is only for new accounts.

[@MicheleBouvier]

WARNING about syncing to a bank.... I'm a small business and synced quickbooks to my business account with Cambrian Credit Union. In the middle of Dec. 2022 Cambrian Credit Union STOPED 3rd Party Apps from syncing. Needless to say I'm in a huge mess, as EVERYTHING that was synced is just not in quickbooks. We are at the end of the year, and I have to manually input every single transactions manually... so be aware!

[@DANIELBOATENG-k2p]

Hi dear help me

[@DANIELBOATENG-k2p]

Game

[@katieFunk-p1s]

Why bother using the bank feeds for matching if I have already entered the transactions into QuickBooks? Seems like an extra step for no reason? I could see using it to add transactions the business didn't record yet, but I usually just add anything missing in the accounts during the monthly reconciliation.

[@ClaraCFO]

If the bank feed is working properly, then you don't need to manually add things! Saves a ton of work!

[@RR-et6zp]

Too many ads

[@ClaraCFO]

There shouldn't be any ads mid-roll. I have that feature turned off for this video.

[@kevywilliams3304]

We don’t subribe cause you introduce the video 6 times in 3 min!

[@HoustonShutterCenter]

I tried to resync my bank feed w/ user name and pass word QBO says unable to connect try again later who should I contact or email???

[@ClaraCFO]

Sometimes you just need to retry. You can try to contact support if it keeps persisting.

[@tashaphilpott334]

Hello these videos are so helpful. I am just starting in the bookkeeping business, and so much makes simple sense. I have a question what is the billable for? Also when your categorizing the bank feed and the drop down for vendor comes how do you know if it is a vendor or are all of them labled as vendors? I have signed up for your channel.

[@denarmartin]

Tasha, you may have figured this out by now, but.... Typically a Vendor is someone that you give money TO and a Customer is someone that you get money FROM. The bank feed will default a new name to a Vendor Type is its for a money out transaction and default to a Customer type if it's for money in. Even the Post Office or a Gas Station would be considered a Vendor. Another way to think about it is - the only other options are Customer and Employee and the gas station is certainly neither of those. Hope this helps!

[@Prismcrafts]

Please help me about quickbook canada

[@rlhardy63]

Very informative! Thank you!

[@betsyconcha6479]

Thank you!!!

[@ClaraCFO]

Happy to help!