Question

Which 2 statements regarding Bank Feed best practice workflows are correct? (Select all that apply) You should complete Match transactions first, then move on to Add transactions You should complete Add transactions first, then move on to Match transactions You should match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, or Deposits, but not open invoices You should match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices You should exclude the downloaded transaction from the For Review tab, if QuickBooks Online doesn’t immediately find a match

Answer 1

1) You should complete Match transactions first, then move on to Add transactions

As a standard procedure once matches are found thereafter transactions should be added.

2)You should match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices.

While accounting for any missing/ additional banking transactions verification from all available resourcess should be done. While an open invoice may be redundant when it comes to payments made, which are already recorded in the payment books(Cash/ Bank), a surprise or unprecedented receipt(s) will need to reconciled to the specific debtor.