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April 25, 2020
Question

Certain expenses are being shown under action column as transfer, how can they be added to expenses

  • April 25, 2020
  • 1 reply
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1 reply

April 27, 2020

Hi there, 

 

Your transactions are an essential part of your books as they help reflect how your business is doing. I'd be happy to show you how to reclassify the transfer into an expense. 

 

QuickBooks Online makes it simple to reclassify transactions using steps that are easy to follow. To do this, check out the instructions below:

  1. From QuickBooks Online, navigate to the Banking tab.
  2. Click the Reviewed tab, and scroll down until you see the transaction. Select Undo to bring it back into the For Review tab.
  3. On the For Review tab, click the transaction and classify it with the desired expense account.
  4. Select Add to create the expense.

Once you've done this, your transaction will be recorded as expense instead of a transfer. I encourage you to learn more about classifying transactions in QuickBooks by setting up Bank Rules. When you download transactions from your bank, you need to categorize them so they go in the right accounts. Bank rules speed up this review process. You can create rules that automatically categorize transactions for you. 

 

Check out this helpful article: How to set and use banking rules for downloaded transactions.

 

In case you have other questions, feel free to contact our support team using this link here. Otherwise enjoy the rest of your week and stay safe!