Matching transactions is the process to confirm that all the transactions in your bank accounts are recorded in your business accounting records.
We recommend keeping your bank account up to date on a regular basis, to ensure your accounting records are up to date and to help find and correct any errors as soon as they occur.
It is always good practice to add as much detail when you are matching your transactions
There are three possible ways of matching transactions:
- If there is an expense/invoice that you have created in the past that matches the $ value of your transaction, it will automatically identify the possible match
- Match transactions directly in the Bank Feed (simple or detailed - see below)
- Assign to multiple expenses/invoices that you have previously created (this is in the assign to multiple section)
Simple match:
The easiest way to match an existing transaction
Expenses:
Income (invoices):
Detailed match:
Adding all the required information to make tax time a breeze
Expenses:
Income (invoices):
For help on categorising and matching transactions - click here
