Skip to main content
T
TheTyArwood
December 2, 2024
Question

Bank Transactions showing everything as received payments.

  • December 2, 2024
  • 1 reply
  • 0 views

All of our banking transactions are incorrectly showing as if we received payments. For example, we have payments made to credit cards and lease payments showing that we received the amount that we paid, and QBO wants to categorize them as A/R. When I click on the transaction, there is no way to switch it to spent. Refreshing does not reset the transactions. Is there a way to fix this?

1 reply

J
JayneusCaesarR
December 2, 2024

Hello @TheTyArwood,

 

It's nice to have you with us in the Community today. Let me share insights on how transactions from credit card accounts are downloaded in QuickBooks.

 

Credit card payments are downloaded as "money in" transactions on the Banking page. On the other hand, payments coming from banks such as checking and savings accounts are posted as "money out".

 

In addition, transactions downloaded in QuickBooks depend on what your bank shares. The option to edit them is unavailable in the program.

 

To fix this, we can exclude the incorrect downloaded entries and manually import the correct ones.

 

Here are the steps to exclude:

 

  1. Select the Transactions menu, then Bank transactions.
  2. Go to the For Review tab.
  3. Check the box of the transactions you want to exclude.
  4. Click Exclude.

 

Once done, follow the steps in this article to upload your bank data into QuickBooks Online (QBO): Manually import transactions into QuickBooks.

 

Moreover, how the program suggests categorizations depends on the data displayed in the For Review tab.

 

After correcting your downloaded data, you can now review them.

 

Stay in touch here in the Community, if you have other questions about your bank transactions. I'm always here to help.

Terms & ConditionsAccessibility statement