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usercfo
October 11, 2021
Question

How can I change transaction type. Many of my credit card transactions are coming up as credits when they are expenses?

  • October 11, 2021
  • 2 replies
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2 replies

A
AileneA
October 11, 2021

Yes, you can change the transaction type, depending on where it's located in QuickBooks Online (QBO), usercfo. 

 

The program depends on what your financial institution shared with us. That may be the reason why the credit card transactions is being posted as an credit, not an expense. 

 

You can reclassify the credit card transaction if it's still in the For Review tab. This way, your financial records are accurate in QBO. I'll guide you how. 

  1. Go to Banking from the left menu.
  2. Select the For Review tab. 
  3. Locate and open the transaction. 
  4. Choose the appropriate income account from the Category drop-down. 
  5. Click Add.  

 

If the transaction is already in the Reviewed 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 income account.  

 

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.  

 

I'm just a post away if you need further assistance or have any more questions with QuickBooks. Have a good one.

J
jesmal85
November 30, 2021

Hello,

 

I am currently going through that exact situation. Our credit expenses are showing as credits. We had to upload our files because the bank and QB were not communicating. We reviewed all the transactions before realizing what happened. We also inactivated the account so now we cannot locate the charges in the banking screen. How can we retrieve and correct the transactions?

C
Carneil_C
November 30, 2021

Thanks for joining the thread, @jesmal85. Allow me to share some details about your concern.

One way to record a credit card payment is to transfer the amount from your bank account's feed to the credit card account in question.

 

Here are the steps on how to transfer the payment:

  1. Go to Banking, then select Banking.
  2. Select the account you need to transfer the payment from.
  3. Select the transaction, then select the Pay down credit card radio button.
  4. Select the Transfer account ▼ drop-down menu and select the account you want to send the transaction to.
  5. Select Confirm.

Alternatively, you can transfer the payment with the Record as transfer option:

  1. Go to Banking, then select Banking.
  2. Select the account you need to transfer the payment from.
  3. Select the transaction, then select the Record as transfer radio button.
  4. Select the Transfer account ▼ drop-down menu and select the account you want to send the transaction to.
  5. Select Confirm.

Once you're done with the transfer of the transaction, you need to match it with the new account.

  1. Select the Recognized tab and locate the transaction.
  2. Under the Action column, select Match.

For additional information, see this link: Debit vs. Credit.

 

Loop me in if you have other concerns, I'd be glad to assist you. Take care! 

S
sugamo
March 28, 2023

this is the exact same problem that i have.  When i tried to manually download credit card transaction to csv file and upload to quickbooks, it counts as plus instead of minus.  and it completely destroys all the transactions.  

R
rvrfrf
March 28, 2023

Thanks for joining the Community and getting involved with this thread, sugamo.

 

When you download CSV files of transactions from your financial institution, the data provided in them is coming from your bank. If debit transactions are for some reason listed as credits, I'd recommend getting in touch with them to identify why they're listed that way.

 

It's also recommended that you check the file's formatting prior to uploading it into your books. CSV files can be uploaded with 3-column or 4-column formatting.

 

These are the only columns QuickBooks can handle, and they have to be put together in the following order:
 

  • 3-column format - This format has Date, Description, and Amount columns.


     
  • 4-column format - This format has Date, Description, Credit, and Debit columns.

 

If you see an error message while uploading a CSV file, you may need to fine tune your formatting:
 

  • If you use Mac, save the file as a Windows CSV file.
  • Remove any zeros (0) from the file. Leave those cells blank.
  • Correct any transactions that display numbers in their Description column.
  • Confirm your dates are in one format. Intuit recommends using dd/mm/yyyy formatting.
  • Remove the word "amount" if it appears in your Credit or Debit column headers. They should only read "Credit" and "Debit", without the word "amount".
  • Some banks add the day of the week in your Date column. For example, "20/11/2018 TUE". You'll need to remove any days of the week ("TUE") from this column.

 

I've also included a detailed resource about formatting CSV files which may come in handy moving forward: Format CSV files in Excel to get transactions into your books

 

Please don't hesitate to send a reply if there's any questions. Have an awesome day!

F
FrustratedUser22
December 7, 2023

This is the dumbest thing that they have changed since forcing everyone online. on the desktop it was a simple drop down menu. I do not want to link my bank accounts with Quickbooks. I want to manually enter them. So how can I change the 100 or so transactions I accidentally entered as CC payment??? So ridiculous. 

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