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Snowgoose71
April 1, 2024
Question

Why do transactions downloaded from my bank not take with them the categories I allocated in my bank account?

  • April 1, 2024
  • 1 reply
  • 0 views
I cannot see the point in linking a bank account because all the transactions have to be manually edited to add categories and details. Nothing seems to come across from the bank account except the date and amount. My previous method of using Excel spreadsheet was way quicker and simpler than this!

1 reply

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Sherrie_F
April 1, 2024

I can only imagine how challenging that situation must have been not being able to take the categories allocated in your bank, @Snowgoose71.

 

No worries, let me guide you through this and provide some ways.

 

To start with, you can select the Copy bank detail to memo and Show bank details for you to be able to see the categories allocated in your bank account.

 

Here's how:

 

  1. In the left navigational bar, select Transactions.
  2. Then, choose Bank transactions.
  3. Click the small Gear icon.
  4. Under Columns, tick the Show bank details and Copy bank detail to memo.

 

Moreover, it also depends on your bank institution if the categories from your downloaded transactions can be allocated to your account.

 

Furthermore, here's an article that you can browse through for you to be able to know if your downloaded transactions end up in the right accounts: Set up bank rules to categorize online banking transactions in QuickBooks Online. 

 

Let us know if you still have further queries managing your bank transactions. We're always here 24/7. Stay safe there and have a good one!

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Snowgoose71Author
April 2, 2024

Thank you for your reply, which has highlighted yet another problem I'm having. It is very confusing to know how I sign in to QuickBooks. I have the option to sign in to QB Online or QB Self Employed. Why the two options?

 

If I sign in to QB Self Employed, all my transactions are shown, from my bank account, but other options are very limited. For example, Rules are nothing like described in the help section and Transactions does not have an option "Bank Transaction" as described in your reply. 

 

If I sign in to QB Online, there are errors everywhere ("Something went wrong") and the only option down teh left hand side is "New". Selecting that does nothing. 

 

So, where am I meant to sign in? Why is my dashboard completely different to the help guides and to your description?

 

Thank you,

Jen

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ReymondO
April 2, 2024

Thanks for getting back to the thread, @Snowgoose71.

 

For me to help address your banking concern, can you verify what QuickBooks subscription you're using when managing your business? This will help me identify the reason why your dashboard is showing differently.

 

Please know that QuickBooks Online (QBO) and QuickBooks Self-Employed (QBSE) are two separate versions. The main difference between both programs is that QBSE is designed for independent contractors, while QBO is for small businesses.

If you can log in to both and use their available features, this means that you have an active subscription for both accounts.

 

Also, how banking transactions are shown in QuickBooks depends on data submitted by your bank. Once you connect your bank accounts to QBO or QBSE, your bank transactions will be automatically imported into QuickBooks. Thus, you need to categorise them to ensure that everything is correct.

 

For complete guidelines, you can refer to the following articles below:

 

 

In addition, the steps that were shared by my colleague above are intended for QuickBooks Online. Since you only see +New in the left-hand panel and get some error messages in QBO, let's perform some browser troubleshooting steps. This will help us check if the problem is related to cache issues and fix them. 

 

To start, open your account in a private window by pressing these keyboard shortcut keys:

 

  • For Google Chrome browser: Ctrl + Shift + N
  • For Mozilla Firefox browser: Ctrl + Shift + P
  • For Safari browser: Command + Shift + N

 

Once done, log in to your QBO account and see if it resolves the problem. If it works, return to your original browser to clear its cache or use another compatible one. It's more likely a temporary issue between QBO and your current browser.

 

Moreover, you can set up bank rules in QuickBooks to help automatically classify transactions and speed up your review process.

 

Please let me know if you have any follow-up questions about categorising downloaded banking transactions in QuickBooks. I'll be here to help. Stay safe.

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