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Conqug
April 20, 2023
Question

Match transaction I've been matching as expenses

  • April 20, 2023
  • 1 reply
  • 0 views

Hi all new to qbo from Sage, I read about match payments from bank so got cracking once it started

Syncing from my bank account.. money received from jobs I was just matching to an invoice if it showed as a match, other payments of several invoices I was just categorising but I've categoriesed as an expense and done that for last month now realised should of been marking as a deposit/transfer I think and then allocate to specific invoices after that.

 

Is there anyway to fix the mess been made.for past 2 months?

 

 

 

 

 

 

 

 

1 reply

DivinaMercy_N
DivinaMercy_N
April 20, 2023

Hi there, @Conqug. I want to ensure you'll be able to correctly categorise your transactions in QuickBooks Online (QBO).

 

Thanks for sharing detailed information about your concern. To help you with this, we can undo the categorised transaction and mark it as a deposit or transfer in QBO. Here's how:

 

  1. Go to the Banking menu and select the Banking tab.
  2. Next, click the Categorised tab and set the date for the past two months.
  3. From there, look for the payments you categorised as an expense and select Undo.

 

After that, go back to the Review tab to correct the payment entries. Refer to the steps below.

 

  1. Set the correct date range and look for the specific payment.
  2. Click it and tick the Record as transfer radio button.
  3. Then, fill in the needed fields.
  4. Next, select Add. 

 

For reference, please check this article: Categorise and match online bank transactions in QuickBooks Online.

 

I'll include this helpful resource as an additional guide in matching and recording your transfer transactions: Transfer funds between accounts.

 

It's also recommended that you reconciled your account to ensure this matches your real-life bank statement. For detailed instructions, check out this link: Reconcile an account in QuickBooks Online. 

 

I'm always here ready to lend a hand if you have any other concerns managing your transactions. Have a good one and stay safe. 

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