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websoftpr
May 6, 2021
Solved

Expenses are entering as deposits

  • May 6, 2021
  • 2 replies
  • 0 views

Hello, while doing import from bank, some transactions that are expenses are being entered as a deposit and the amount is showing a - number. Is there a way that I can reverse this without deleting the entry and doing it all over again?. See print screen.

 

Thanks,

Best answer by Catherine_B

Hello, thanks for your reply. My concern now is that I have entries that are categorized as deposits, but are expenses. I have not found a way to change this other than deleting the transaction and do it again, is this the  only way?


I can show you how to re-import your bank transactions, websoftpr.

 

While the option to change the transaction types, you'll have to delete and recreate them. If you're manually importing your bank transactions, you can open the CSV file you downloaded from your bank's website. Then, you can transfer transactions that are on the Debit side to the Credit side and vice versa. For more detailed steps in importing bank transactions, you can use this article: Format CSV files in Excel to get bank transactions into QuickBooks.

 

For the added transactions, you'll want to Undo the action and Exclude them. Feel free to use this article that helps you categorize and match online bank transactions in QuickBooks Online. 

 

Keep me posted if there's anything else that you need in handling your bank transactions. Take care and have a great day!

2 replies

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SarahannC
May 6, 2021

Hello there, websoftpr. Thank you for adding a screenshot!

 

Let me start by sharing the details about the imported transactions in the program. The bank transactions that will download in QuickBooks will depend on the financial data shared from your bank. 

 

We don't have an option to edit the deposits from your bank showing on your Bank Feeds. What we can do is exclude the expenses showing as deposits and manually enter them as a deposit. The steps below will guide you further:

 

  1. Go to Banking on the left panel.
  2. Within the Banking tab, choose an account.
  3. Go to the For Review section.
  4. Put a check mark beside the transactions.
  5. Select Exclude.

 

When recording or making a deposit in QBO, you can go to the +New button. Then, select Bank Deposit. I'd recommend checking this article for the complete steps on how to do it: Make bank deposits.

 

For the monthly reconciliation process, you can check these articles for additional guide:

 

 

Also, I'd recommend sharing the name of your financial institution. This way, I can provide additional information about it if necessary. 

 

Please let me know if you have other questions. You can always post them here and I'll help you right away. Take care and enjoy your day.

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SarahannC
May 9, 2021

Hi websoftpr,


Hope you’re doing great. I wanted to see how everything is going about the expenses that are showing deposits. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.


Looking forward to your reply. Have a pleasant day ahead!

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websoftprAuthor
May 10, 2021

Hello, thanks for your reply. My concern now is that I have entries that are categorized as deposits, but are expenses. I have not found a way to change this other than deleting the transaction and do it again, is this the  only way?

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Feesho
May 10, 2021

Hi

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