QuickBooks automatically suggests bank transaction matches based on transaction type, amount, and date. However, transactions are occasionally matched incorrectly and require correction.
The method for fixing these depends on whether the transaction has been reconciled yet.
If the transaction has not been reconciled to a bank statement, the fix is straightforward.
Locate the Transaction:
Navigate to Bank Transactions in QuickBooks and select the relevant bank account.
Click on Posted to view matched transactions and find the incorrect one.
Unmatch:
Click Undo on the right side of the transaction line to restore the transaction to "pending" status.
Rematch:
Click on Pending to view unmatched transactions.
Match the bank transaction to the correct QuickBooks transaction.
If the transaction has already been reconciled, the process is more complex and requires manual re-reconciliation.
Locate the Transaction:
Navigate to Important: A warning will appear stating the transaction has been reconciled. Acknowledge this warning.
in QuickBooks and select the relevant bank account.
Click on Posted to view matched transactions and find the incorrect one.
Unmatch:
Click Undo on the right side of the transaction line to restore the transaction to "pending" status.
Important: A warning will appear stating the transaction has been reconciled. Acknowledge this warning.
Rematch:
Click on Pending to view unmatched transactions.
Match the bank transaction to the correct QuickBooks transaction.
Manually Re-Reconcile:
Select Go to bank register and find the newly matched transaction.
Look at the column immediately to the left of the "Balance" column. It should display a “C” (indicating it is matched/cleared).
Click on the “C” and change it to an “R” (Reconciled).
Click Save.
Important: A warning will appear stating that manually reconciling a transaction will affect the reconciled balance associated with the bank account. Acknowledge this warning.
