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December 12, 2021
Question

Materials and supplies expenses appearing in chart of accounts account history as payment and deposit - how do I change the deposit so it's not included?

  • December 12, 2021
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1 reply

December 12, 2021

Nice to see you here in the Community space, danielstilingaut.

 

I lay down some details on how to exclude an expense transaction that shows up in your chart of accounts as a deposit.

 

Just to clarify, are these expenses being downloaded from your bank? If so, you can Exclude those transactions and manually enter them as expenses.

 

Here's how:

 

  1. Go to the Banking or Transactions menu.
  2. Select Banking tab.
  3. Choose the bank account.
  4. Go to Categorize tab.
  5. Locate the expenses transaction that appears as a deposit, then click Undo.
  6. After that go to the For Review tab and then select the transaction.
  7. Hit the Exclude button.

 

The transaction can then be manually imported using a CSV template. Just ensure to use the negative amount for the expense. For additional information about the template, see this article: Format CSV files in Excel to get bank transactions into QuickBooks.

 

If these materials and supplies expenses are manually added, you can delete and recreate them right from the chart of accounts window. After that, manually enter the transaction and make sure you choose the expense.

 

Here's how to delete from the chart of account.

 

  1. From the Account history screen.
  2. Locate the expenses that show as deposits.
  3. Click Delete.

 

These are the steps to recreate:

 

  1. From the Account history screen.
  2. Click the Add cheque dropdown, then select Expense.
  3. Enter fill in the necessary information and the amount.
  4. Once done, hit Save.

 

In addition, I've included this resource for future reference: Reconcile an account in QuickBooks Online. This guide will show you how to make sure your QuickBooks and bank account balances are matched.

 

Let me know if you need further assistance with deposits. I'm always here to help you.