Match a Deposit to an Invoice in QuickBooks Online

In this article, you read match a deposit to an Invoice in QuickBooks Online. Frequent transactions require thorough organization in case users want to avoid muddling up their books.

How to Match a Deposit to an invoice in QuickBooks Online?

Traditional accounting makes it difficult for users to manage these transactions. Organizing data in a systematic manner is an arduous task. QuickBooks can substantially curtail the time and effort it takes to organize these transactions. It makes matching a deposit to an invoice as easy as pie.

Step 1: Connect with your Bank

Follow the steps given below to connect your bank account to QuickBooks Online.

  • Log into your QuickBooks account
  • Click on the navigation bar located on the left side of the screen.
  • Click on the transactions tab.
  • Here you will see a drop-down menu appearing. Choose the banking tab from there.
  • Choose the radio button that says to connect your bank with your QuickBooks accounting software.

Step 2: Match Deposits

Once your account is linked to QuickBooks, simply go through the steps to match your deposit with an invoice.

  • Select the banking tab from the transactions menu.
  • Click on the deposits option and choose to select the find match option.
  • Now choose all your invoices that you would want to match with an invoice.
  • Enter the required information that follows and hit save.

There is a limitation on matching deposits to invoices in QuickBooks Online. Only past 90 days’ entries are available for you to match your invoices. This poses a serious problem for many users. In case you too want to match transactions that are older than the aforementioned limit then follow the steps given below:

  • Log in to your bank account and download the required entries to be matched. Transactions should be downloaded in Web Connect format (.qbo, .qfx, .ofx, .csv)
  • Log into QB Online.
  • Select Transactions from the left navigation panel
  • From the drop-down options, select banking
  • Select Update from the options available on the Banking page
  • Click on Upload and select the web to connect file. Once the file is uploaded, select the bank account from which you downloaded the web connect file.
  • Click finish.

Users, who upload WebConnect files in .CSV format, will be prompted by QB to select the rows and columns corresponding to QuickBooks’ format. You can upload a Webconnect file from just about any type of back account. In case you are facing errors or issues while matching a deposit to an invoice, feel free to contact us. You can talk to our QuickBooks certified experts.