Matching Transactions in External Accounting
- Gemma Heidemann
Wise Owl Legal will integrate with your External Accounting and allow you to prepare records as Cash or Accrual.
This means that Wise Owl sends across both the invoice and the receipt under the customer.
When matching bank feeds in your software, these need to be matched to the Payments on the Invoices, not to the invoices themselves.
We recommend that you perform a quarterly check on your Debtors to ensure that they are the same and balance between systems. See more on this topic at How to reconcile and manage my Debtors
To accept a payment in QuickBooks Online, you first need to enter it as a receipt in Wise Owl. See more on how to do this at Receipts - New Receipt
Once it is entered and confirmed, it will flow across to your external accounting system.
From here, you can match the payment in your bank account to the receipt from Wise Owl.
Be Careful that you only match to the Receipt from Wise Owl and not the invoice from Wise Owl.
Correct - QuickBooks Online is suggesting to match to the payment on an invoice