Reconciling payments just got easier!

Reconciling payments just got easier!

When it comes to reconciling payments, it can be challenging and time consuming to match bank deposits to sales, especially when there are multiple recommendations and transactions of similar amounts. The more time you spend matching transactions, the less time you have to manage your business.

In response to feedback from accounting professionals just like you, we’re happy to introduce some enhancements to QuickBooks® Online Payments that will make this part of running your business a lot easier.

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What we heard

  • When there isn’t any payment information included, such as customer name or invoice number, it requires a great deal of extra work to determine which deposit belongs with which customer, as many of our invoices are in the same amount.
  • It’s surprisingly hard to associate payments with specific invoices when you invoice regularly for the same amount.

What’s changed

You will now see just one match recommendation, based on a unique deposit ID for almost all transactions processed within QuickBooks Online. This change will boost accuracy and save you time.

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Please tell us what you think

This change is being implemented for a select group of customers to try out. We value your opinion and would appreciate it if you add your feedback here.

Coming soon

  • Automation: When there’s high confidence, QuickBooks Online will automatically match deposits processed by QuickBooks Payments. This could save you up to two hours per month based on the volume of payments processed.
  • Flexibility: You’ll have the option to easily review the automated matches, and to turn off auto-matching if you prefer to reconcile manually.

Editor’s note: Sharise Cunningham and Kim Torres co-authored this article.