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tgrace_99-yahoo-
September 26, 2022
Question

Bank Deposits

  • September 26, 2022
  • 1 reply
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My company invoices clients through QB Online. While most pay via bank transfer, some still mail checks.  I deposited two checks at the bank at the same time. When I updated QB the next day, that transaction came over as a DEPOSIT for the total amount. I can split the transaction obviously to two clients, but I can't seem to change the TYPE of transaction from DEPOSIT to PAYMENT. Any thoughts?  Thanks.

1 reply

A
AileneA
September 26, 2022

Hi there. 

 

The program depends on what your bank shared with us. That may be the reason the deposited checks are being posted as Deposit, and not as Payment.  

 

That being said, we're unable to directly change a deposit transaction into a payment in QuickBooks Online. You'll have to exclude it from the Banking page and then manually recreate in QBO. I'll show you how:

 

  1. Select Banking or Transactions from the sidebar menu.
  2. Look for the transaction in the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Choose Exclude.

 

If the transaction is already in the Categorized tab, you'll have to undo it. The system will move it back to the For Review tab so you can categorize it to the correct account.  

 

Feel free to check out this article for additional details about this: Exclude a bank transaction you downloaded into QuickBooks Online.

 

Once done, I recommend reconciling your account monthly. It lets you detect any differences early. It also helps ensure your account in QBO matches your bank statement. For more information, visit this article: Reconcile An Account. 

 

Feel free to visit us again here if you have any other concerns or further questions about this topic. We're open 24/7 and always ready to help.

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