The QuickBooks Payments team has recently begun a trial of enhancements that will aid in the reconciliation of bank deposits. Before these enhancements, if there wasn’t any payment information like customer name or invoice number and there were multiple transactions of similar amounts, it took a great deal of user time to ‘match’ deposits within QuickBooks to the deposits within Bank Feeds. Until this change, multiple transaction options would be displayed, requiring the user to select the match they believed appropriate to the displayed record.
As a result of these trial enhancements, QuickBooks will now display just a single ‘match’ recommendation. The new functionality is derived from using a unique deposit ID for almost every transaction processed within QBO. If the displayed transaction isn’t appropriate, the user will have the option to ‘Find other matches’ from unmatched transactions meeting the transaction type and amount criteria.
Ultimately, the goal is to automatically match deposits processed by QuickBooks Payments when there is a high degree of confidence, just as with other types of Bank Feed transactions. But even in those cases, users will still have an option to review (and undo/edit) all automated matches. The auto-matching feature is planned as a user-controlled preference so that you can determine if you want QuickBooks doing the work or if you want to do manual reconciliation of these deposits.