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roy-potter
June 2, 2019
Question

QBO is downloading my CC. transactions as payments not spent. How do I get the downloaded transactions to record correctly?

  • June 2, 2019
  • 5 replies
  • 0 views
Original commenter did not share additional details

5 replies

GlinetteC
June 3, 2019

 Hello, roy-potter.

 

QuickBooks depends on the transactions coming from your bank. You can exclude the downloaded transactions and reimport them manually using WebConnect files.  This way, you can categorize them as expenses. 

 

If you're using a CSV file, you can follow the steps in this article: How to import bank transactions using Excel CSV files. Then, Exclude the transactions.

 

Here's how:

  1. Select Banking.
  2. On the Banking page, click the For Review tab.
  3. Select checkbox of the transaction you want to exclude.
  4. From the Batch actions drop-down, choose Exclude Selected.

 

These steps will help you record your transactions correctly. Have a great day!

roy-potterAuthor
June 3, 2019

Hi, this procedure stops all downloaded transactions. I can do that. The problem is:

I use my CC to buy from

"ABC inc" - £10.00.

And my

CC balance is £100.00 (amount owing). If I add the purchase in QBO my CC balance now becomes £110.00. When I sync (update) via the dashboard the purchase of £10.00 from ABC inc is not found. The £10.00 is imported as a payment and wants to decrease my CC balance buy £10.00. QBO interprets the values from my CC company  the wrong way round. i.e. purchase are payments and payments are purchases. Is there a way to get QBO to "swap" the data automatically?

AlcaeusF
AlcaeusF
June 3, 2019

Hi roy-potter,

 

Thank you for posting here in the Community. I'm here to help you with your concern about the bank transactions in QuickBooks Online.

 

Please make sure to select the corresponding credit card account (not a bank account) to ensure the transactions post correctly to your company file. You can go to the Chart of Accounts to check if the Type and Detail Type is correct.

 

Here's a sample screenshot for your reference:

 

 

Here's how:

 

  1. Click the Gear icon.
  2. Below Your Company, select Chart of Accounts.
  3. Edit the account if necessary.

If there's no problem with the setup, I need to ask a few questions to provide solution accurately. Can you share with me the name of your financial institution? Is this only happening to a single account?

 

With this information will be able to check if there are ongoing issues reported from other users in the system.

 

Feel free to reach out to me again if you need further assistance with your banking concern. The Community is always available for you.

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