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May 21, 2024
Question

I need to reclassify a deposit to an expense

  • May 21, 2024
  • 1 reply
  • 0 views
Expenses are showing up as deposits

1 reply

MariaSoledadG
May 21, 2024

Let me guide you on reclassifying a deposit to expense, Mary.

 

The transactions that download in QuickBooks depend on the financial data shared by your bank. You can reclassify the deposit if it's still in the For Review tab. To do so, follow the steps outlined below:

 

  1. Go to the Bank transactions from the left menu, and then select the Bank transactions tab.
  2. Select the For Review tab.
  3. Locate and open the transaction.
  4. Choose the appropriate expense account from the Category drop-down.
  5. Click Add.

 

Otherwise, you'll also want to exclude transactions for your books to be accurate. Here's how: 

 

  1. Go to Transactions, then select Bank transactions.
  2. Click the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Click Exclude.

 

Please know that editing deposits from your bank showing on your  Bank Feeds isn't available. 

 

Furthermore, to make sure that your books matches your bank and credit card statements, learn from this article how you can reconcile them. I've added this article for more details: Reconcile An Account in QuickBooks Online.

 

Please don't hesitate to get back to me if you need further help. I'll keep an eye out for your response with your banking issue.