Question

UNDO Bank Transactions Added to Register in error before matching to open invoices

Forum|Forum|2 years ago
May 13, 2024
1 reply
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Using QuickBooks Desktop 2023.
WE import all our bank deposits (payments received from Shopify/Amazon etc) for the month and as part of month end duties I match all the payments deposited into our bank account to open invoices/orders.

This morning I was matrching about 15 other payments received/made though our Chase account and to my horror QB's sent about 90 payments into the "Sales Account" before i could match...

How do I UNDO?
If not how do I fix...

What is really upsetting is that when i open bank feeds and look at "Unrecognized" Transactions QB's decides it wants to allocate a generic account for me (in this case "Sales" automatically so it's easy to add these to the register in error.

Really frustrated (and disappointed) here.....

The attached file shows what happened just now with all my Shopify and PayPal deposits being allocated to "Sales" and already "Added to Register" before i had a chance to "match to existing transactions".
Each of these daily deposits can contain multiple orders e.g see the 4/30 deposit of $11,710 (thats approx 130 orders for just the one day!!!)

QuickBooks Desktop

S

Sherrie_F

I appreciate you for adding more details to your post, Phil.

Let me provide some ways to help you undo the bank transactions you've previously made in your account.

In QuickBooks Desktop (QBDT), we can't undo the transactions once they are added already. Therefore, what we can do is Delete the transaction through the register.

Here's how:

In the upper left corner, look for the Lists.
Then, select Chart of Accounts.
Choose the Account.
Click the transaction, then Delete.

Moreover, you may have set up a bank rule causing the system to categorize the transactions automatically under the Sales account.

Additionally, you can always browse through this resource just in case you need assistance adding and matching Bank Feeds transactions in QuickBooks Desktop: Add and match Bank Feed transactions in QuickBooks Desktop.

I'll be right here, willing to provide further assistance for any additional queries you may have when managing bank transactions in QBDT. Feel free to let me know in the comments below. Keep safe and have a great day ahead.

P

phil1962Author

Sherrie

I really appreciate the reply!!

There's about 90 payments (April daily deposits from Shopify, Amazon and PayPal) to be matched against/applied to approx. 1200 open invoices that synced from those Channels for those payments...

Couple of questions!!:
1. If I delete the transactions as you explained in your reply can I reimport the .qbo file from my Chase Account that had all these transactions?
If the reimport won't work then how do I recreate those 90 payments and then apply them against those 1200 open invoices/credits for refunds and account for WEB Discounts, Bank Fees etc that make up the net payment ?

2. I don't have any rules set up to allocate to certain accounts.
My Bank Feeds are shown in "Advanced Mode" - Edit, Preferences, Checking, Company Preferences, Bank Feeds - Advanced Mode
QB's for some reason wants to prefill in the account number and even checks the box to the left of the transaction so if you're not careful you can Add/Confirm a LOT of transactions to the prefilled Accts e.g. Uncategorized Expense, Sales, Uncategorized Income etc...
I would love to turn off this feature!!!

I've added a screen shot of what happens when i open up Bank Feeds and click on "Unrecognized" for one of my Bank Accounts/Credit Cards.
I did NOT enter the Uncategorized Income or Expense Accounts and did NOT check the box to the left of the transaction.
I am continually Unchecking these boxes and deleting the wrong accounts that QB's decides to prefill for me!!!!!!!

The way this came about is that i was confirming about 10-12 transactions in my Chase Checking Account.
I'd allocated the expense accounts that I wanted these transactions to be applied to. They were 8 out of about 110 transactions in the Chase account.
All the payments from Shopify/Amazon/PayPal already had the account prefilled with "Sales". This is NOT where i want these to go as I need to click on "ADD" to the right of the bank feed transaction and then "Match to existing transactions"
I made sure the box to the left of the transaction was only checked (Blue Check Mark) for the 10-12 items.
I hit Add/Confirm and then after a minute it showed that 102 transactions were "Added to Register" and approx. 90 of these were my sales channel payments. OH NO!!

Any help would be appreciated.
I did talk to Desktop Support, however the help was at a very limited basic level, which did not impress me at all. I felt that I was showing her things she didn't know about and I'm sure she was looking at basic help that prompts her to send me to online resources.
I need someone who understands QuickBooks Desktop better than I, and can look at my account and know how to fix some issues I'm faced with and better explain how I go about fixing the immediate issue!!!

Looking forward to hearing back...

Thanks Sherrie, please do your best!!!!

I had a couple of screenshots to attach, unfortunately i was limited to 1 attachment.

M

MichaelaS

I hear your feedback and deeply value the information you've shared and the efforts you've taken @phil1962.

Since there is no option to undo the added invoice payment transaction, you can instead delete these transactions. Yes, you can reimport the transaction manually. Let me share the steps below:

Go to Banking.
Select Bank Feeds, then select Banking Center.
Find your bank and Download Transactions. This opens a browser window to your bank's website.
Sign in to your bank's website to download the Web Connect file.

Once you match the imported payment to the invoice, you can use the difference feature to account for the bank fees. For example, if the total amount of the invoice is $100, then the downloaded transaction only amounts to $90. You can use this feature to match them correctly with your transaction. Refer to the screenshot below.

Regarding your second question, If QuickBooks doesn't detect a possible match for the transaction, they'll be placed in the Unrecognized tab. Furthermore, the program will also attempt to suggest categories based on the categorization history. There are times that the program can't figure out how to categorize the transaction. In that case, the transaction will be assigned to the Uncategorized Income account for amounts received and the Uncategorized Expense account for amounts paid.

This functionality can't be turned off, and the program doesn't have the feature to auto-check boxes unless the check column header has been ticked, as this will put a checkmark on all transactions. If it auto-checks all the transactions even after uploading the file, let's perform troubleshooting to mend the situation. First, ensure to update your program to the latest version to get the latest security updates and latest patches.

Here's how:

Go to Help and select Update QuickBooks Desktop.
Select Update Now, then Get Updates.
Close and reopen QuickBooks to install the update again.

If the issue persists, install the QuickBooks Tool Hub repair tool and run the Quick Fix my File to fix common errors away. Please refer to this article for detailed steps: Repair your QuickBooks Desktop

When this gets fixed, I'm providing this guide to help you properly balance your books: Reconcile an account.

Keep us posted if you have other questions about banking transactions. We'll do our best to help. Take care.

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