When QuickBooks Online downloads transactions from your bank or financial institution, you can easily review, categorise, and accept the transactions, and match them to existing transactions in your company file.

Additionally, if you have existing bills or invoices, you can pay them directly with matching downloaded bank transactions.

How QuickBooks Online handles downloaded banking transactions

When QuickBooks Online downloads transactions from your bank, it analyses the bank data against your QuickBooks Online data, following any banking rules for transactions you have set up. If you haven't set any rules, QuickBooks Online provides suggestions for matches to existing transactions in QuickBooks Online for each downloaded transaction based on how the existing transactions were categorised.

When making a match, QuickBooks Online looks at the transaction date, and attempts to match transactions within 90 days of the transaction date.

For example, if a cheque is recorded in QuickBooks Online on July 15 but does not clear the bank until September 26, as long as the amounts match, QuickBooks Online sees this as a possible match because the transaction was reported by the bank within 90 days of the transaction date in QuickBooks Online.

N {{If the transaction is processed outside of the 90 day period, you will need to manually match the transaction.}} N {{QuickBooks Online does not attempt to match any transactions that are more than 180 days old.}}

In addition to the transaction date, QuickBooks Online looks at the following for specific types of transactions.

For bank deposits and credits:

  • Payments received against invoices (as on the Receive Payment page, not the invoices themselves)
  • Sales receipts
  • Deposits or payments you entered in the bank or credit card register
  • Deposits you entered from the Bank Deposit page
  • Journal entries and other positive or credit transactions you created in QuickBooks Online
  • Open invoices and partially-paid invoices

For cheques, expenses, and debits:

  • Payments you entered for a supplier on the Pay Bills page (not the bill itself)
  • Expenses you entered on the Supplier Expense or Cheque page
  • Expenses or debits you entered directly into the bank or credit card register
  • Journal entries and other negative or debit transactions you created in QuickBooks Online

Manage downloaded banking transactions

After QuickBooks Online downloads banking transactions, you can add downloaded transactions that were not previously entered into QuickBooks Online, assign categories to downloaded transactions, and match downloaded transactions to existing transactions in QuickBooks Online.

If possible, QuickBooks Online suggests possible matches for downloaded transactions based on existing entries, such as payments from customers or purchases from suppliers.

For example, if an invoice payment matches a downloaded income transaction, QuickBooks Online suggests it as payment for the invoice.

Assign, categorise, and add transactions

If you didn't manually enter transactions before downloading your transactions from your bank, you need to review the downloaded transactions and assign categories to them, then add them to QuickBooks Online.

  1. From the left menu, select Banking, and choose Banking.

  2. On the For Review tab, select a transaction to open it.


    The Description column entry indicates the type of transaction.

  3. Select a customer or supplier/supplier name from the Select Payee drop-down list to assign a payee to the transaction.


    If possible, QuickBooks Online displays a matching customer, supplier/supplier, or employee name, or you can select Add new to specify a new payee for the transaction.


    If you don't select or add a name, the transaction appears in the register without a payee when you add it.

  4. Verify that the selection in the Category field is accurate, or select a more specific Category for entries listed as Uncategorised Income or Uncategorised Expense.


    You can create additional categories (from your Chart of Accounts) as needed.

  5. Select a Class or Location from the available options.


    N {{You must have Billable Expenses turned on to assign a billable customer to a transaction.}}
  6. To assign multiple categories to the transaction, select the Split button to open the Split Transaction window, select a Category and enter an Amount for each category until the total amount matches the downloaded amount, and then select Save and Add.
    You can select Add Lines to add more categories, Reset to start over, or, if necessary, the trash can icon to delete a row.
  7. Select a Class or Location from the available options.


    The Class and Location fields only appear if you have set up classes or locations on the Account and Settings (or Company Settings) Advanced tab.

  8. (Optional) Select Add Attachment and select the attachment to add from the File Upload window to add a receipt or image to the transaction.
    The file name is listed next to Attachment. If you attach the wrong file, select the X next to the file name to remove it.
    (Note: A transaction can only have one attachment, and the attachment is not saved to the transaction until the transaction is added to QuickBooks Online.
    You cannot attach a file to a transaction added as a Match.)
  9. Select Add.

The transaction is added to the register and moved from the For Review tab to the In QuickBooks tab.

Review and add or accept multiple transactions at once

You can review and add or accept multiple transactions at the same time.

This can increase efficiency.
  1. Review and categorise several transactions, but don't accept them.


    You can select a column heading, such as Description, to sort the list by the entries in that column and group similar transactions together.

    This will make it easier and more efficient to review transactions.
  2. Select the checkboxes of each transaction to add or accept.
  3. From the Batch Actions drop-down menu, choose Accept Selected.

All of the selected transactions are added to the register and moved from the For Review tab to the In QuickBooks tab.

Match downloaded transactions to transactions in QuickBooks Online

If you created transactions (payments or deposits) before downloading transactions from your bank, QuickBooks Online tries to match them with the downloaded transactions.

The Category or Match column indicates whether QuickBooks Online found a possible match or matches for the downloaded transaction.

To view or accept matched transactions

  1. On the Banking page, select the For Review tab.
  2. N {{Locate a transaction with one or more possible matches to review.}}
    N {{If one match was found, the matching transaction appears in the Category or Match column.}}
    N {{If QuickBooks found multiple matches, you must open the transaction row to review the possible matches.}}
  3. For an transaction matched to a single record, if the match is correct, from the Action column, select Match to accept it.
  4. For a transaction matched to multiple records, from the Action column, select View to open the transaction row, review the possible matches listed under Records found, select the correct one, and select Match to accept it.
  5. If the possible match is not correct, select the transaction to open it, and select Find other records to open the Match Transactions window and search for other possible matches.

The transactions you matched are moved from the For Review tab to the In QuickBooks tab and marked as matched.

Find matching transactions

If you know you have a matching transaction for a downloaded transaction but QuickBooks Online can't find it or isn't matching to the right one, you can search for other transactions to match to the downloaded transaction.

When you search for a match for a transaction, QuickBooks Online displays results within a default date range that calculates the To date as 10 days after the date of the transaction you want to match, and the From date as 10 weeks earlier than the To date.

QuickBooks Online also displays transactions dated up to 10 days after the To date.

  1. On the Banking page, select the For Review tab.

  2. Select the transaction to open it.
  3. Select the Find other records or Find match button to open the Match transactions window. By default, the Match transactions window lists All transactions within the date range, but you can narrow the results.}
  4. Use options on the Show drop-down menu to specify the type of transaction you're looking for.
  5. Enter specific text, such as a name, part of a name, or an amount, in the Search field to review only transactions that match the text.
  6. If the transaction you're looking for is outside the default date range, select the From and To date fields to change the dates.
  7. Select the checkbox of the matching transaction. You can select as many transactions as necessary to match the downloaded transaction.
  8. Verify that the total of the selected transactions is the same as the amount of the downloaded transaction.
    If the amounts are different, you can locate additional matched transactions, or select Resolve Difference to open the Add resolving transactions fields to add the Category and Amount (and, optionally, Payee) of a resolving transaction until the difference equals zero.
    If necessary, you can use the Add new transaction button to add multiple resolving transactions.
  9. Select Save.

R {{The transactions you matched are moved from the For Review tab to the In QuickBooks tab and marked as matched.}}

If you still can't find a transaction you entered in QuickBooks Online, make sure that the transaction:

  • Has not been reconciled.
  • Was entered using the same bank account.
  • Was not matched to another downloaded transaction.

Match a downloaded transaction to multiple QuickBooks Online transactions

You may sometimes have to match a downloaded transaction to multiple QuickBooks Online transactions.

For example, if you received payment for three invoices with three separate cheques for $100 each, and you grouped all three cheques into a single deposit of $300 at your bank, you would match the single $300 transaction downloaded from your bank to the three $100 payments you received against those invoices.

When you match a single deposit to multiple transactions, the bank register displays multiple payments rather than a single deposit. If you have two transactions in the bank feed that match one transaction in the register, you can exclude both items.

  1. R {{On the Banking page, select the For Review tab.}}
  2. Locate the transaction that represents multiple QuickBooks Online transactions, and select it to view the details.
  3. Select Find other records if the transaction already has a possible match, or Find match if it doesn't, to open the Match transactions window.
  4. Select the checkboxes of all of the transactions to match to the downloaded transaction.
  5. Verify that the total of the selected transactions equals the amount of the downloaded transaction.
    If the total is more than the amount of the downloaded transaction, remove some of the matched transactions or adjust the QuickBooks Online transaction amounts until the difference is zero and try matching again.
    If the total is less than the amount of the downloaded transaction, select more matches, adjust the QuickBooks Online transaction amounts, or select Resolve Difference to open the Add resolving transaction fields to enter a resolving transaction for the difference.
  6. Select Save.

The matched transaction is moved from the For Review tab to the In QuickBooks tab.

Record payments for existing bills or invoices

If you have existing bills or invoices in QuickBooks Online, you can pay them directly using downloaded bank transactions.

  1. R {{On the Banking page, select the For Review tab.}}
  2. R {{Locate and select the transaction to open it.}}
  3. N {{Select the Find Match option to open the Match transactions window.}}
  4. Use the available options to specify the type of transaction and limit the results to bills or invoices.
    If no bills or invoices appear, check the dates in the From and To fields to make sure that they capture the date of the transaction.
  5. N {{Select the invoice/invoice to record payment for, and if necessary, edit the Payment amount.}}
  6. N {{If bank charges apply, select Resolve Difference to open the Add resolving transaction fields.}}
  7. N {{Select the Bank Charges account and enter the Amount of the bank charge.}}
    If no tax is involved, select Out of scope/0% tax code.
    N {{If necessary, select the Add new transaction button to add more than one line when resolving the difference.}}
  8. R {{Select Save.}}

The bill or invoice is marked as paid, and the transaction is moved from the For Review tab to the In QuickBooks tab.

Edit download transaction assignments

N {{If a downloaded transaction has been assigned to the wrong category, you can change the assignment or category for the transaction.}}

N {{You can only change the assignment or category from the For Review tab or in the corresponding QuickBooks Online transaction. You can't change a category or assignment from the In QuickBooks tab.}}

  1. R {{On the Banking page, select the For Review tab.}}
  2. R {{Locate and select the transaction to open it.}}
  3. N {{Select the Category or Match drop-down list and select the new category from the list.}}
  4. N {{Select Add to accept the new category and add the transaction.}}

R {{The transaction is added to the register and moved from the For Review tab to the In QuickBooks tab.}}

Change a downloaded transaction type from Transfer

N {{If QuickBooks Online automatically assigned Transfer to an expense transaction after downloading an .ofx file from your bank, you can change the transaction type from the Banking page.}}

  1. R {{On the Banking page, select the For Review tab.}}
  2. R {{Locate and select the transaction to open it.}}
  3. N {{Select either the Add or Find Match radio buttons to clear the Transfer radio button.}}
  4. N {{Select a new category for the transaction and select Add, or match the transaction and select Save.}}

N {{The transaction type changes as you specified.}}

Undo accepted transactions

N {{If you added or accepted a transaction, or multiple transactions, in error, you can undo that acceptance.}}

  1. R {{On the Banking page, select the In QuickBooks tab.}}
  2. R {{Locate the transaction.}}
  3. N {{From the Action column, select Undo.}}
    N {{To undo multiple transactions at once, you can select the checkboxes for all of the transactions and select Undo Selected from the Batch Actions drop-down menu.}}

N {{{The transaction is moved from the In QuickBooks tab to the For Review tab where you can select it and assign an account for it from the drop-down list in the Category or Match field.}}

Exclude transactions

You can exclude downloaded transactions if, for example, you have duplicate transactions or you need to remove a personal expenditure from your business finances.

For information about excluding transactions, see Exclude downloaded transactions.

Bank Detail settings

N {{QuickBooks Online automatically downloads Bank Detail from the bank into QuickBooks Online.}}

N {{The following Bank Detail settings are turned on by default:}}

  • N {{Copy bank detail to memo: Bank detail information is copied into the Memo fields of downloaded transactions}}
  • Remember category selection: QuickBooks Online learns from the decisions you make when adding or matching transactions, and offers smart suggestions for similar transactions in the future, making reviewing downloaded transactions easier and quicker over time
  • N {{Show bank detail: QuickBooks Online displays bank detail information downloaded from the bank that is slightly different from the information on your bank statement}}

If necessary, you can turn off any of these settings, if, for example, you don't want bank detail information to appear in the Memo field, or you don't want QuickBooks Online to make suggestions for categories, but would rather review each transaction every time.

  1. R {{On the Banking page, select the For Review tab.}}
  2. N {{Select the Gear icon above the Action column.}}
  3. N {{Clear the appropriate checkboxes under Transaction details to turn off any of the listed settings.}}

The settings are cleared, and the information no longer appears.