QuickBooks 2005: The Missing Manual

Viewing and Matching Downloaded Transactions

Every time you connect to your financial institution, QuickBooks requests a QuickStatement of all the transactions that cleared since the last time you went online. After you connect, in the Items Received From Financial Institution box, you'll see a QuickStatement entry. To view the transactions in this QuickStatement and pull them into your company file bank account, select the entry and click View.

QuickBooks opens the Match Transactions dialog box and tries to match the QuickStatement transactions to the ones you already entered in QuickBooks, as you can see in Figure 20-6.

Note

The first time you download transactions for an online account, QuickBooks looks at transactions marked as cleared in your account register. For all subsequent downloads, the program tries to match only transactions that haven't previously cleared.

Figure 20-6. Initially, all the transactions show up as unmatched. If you don't enter transactions in QuickBooks, this status shouldn't surprise you. But if you dutifully enter all your transactions before you download, dozens of unmatched transactions might make you nervous. You must first turn on the Show Register checkbox for QuickBooks to compare the downloaded transactions to the ones in your account register. If the program finds a match, you'll see the word Matched next to a QuickStatement transaction. Otherwise, ...