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G
GC LTD
October 26, 2020
Question

categorizing transfers between accounts

  • October 26, 2020
  • 1 reply
  • 0 views

I am trying to categorize my bank feed transactions. So I have transferred $ from a savings to checking account. However when in the savings bank feed I cannot add transactions as a transfer b/c is says its the same account I'm working in.. So how do I classify it as a transfer to the checking account while in the savings bank feed? 

The money once in the checking is then recategorized as an expense to make a payment to a subcontractor.  

1 reply

PatriciaT
PatriciaT
October 26, 2020

Hi GC LTD,

 

I'm glad to hear you're using the Bank Feeds feature in QuickBooks Online to benefit from the automatic download of your transactions. I know how important it is to properly categorize every transaction in your account to keep your books accurate. I'll be happy to assist you with this.

 

Connecting a bank or credit card account in QuickBooks Online enables the system to automatically download your recent transactions in the For review tab. At this point, you can either Add, Match/Find Match, Transfer/Record as transfer, or Record as a credit payment. The Transfer option enables you to select a Transfer account to move a transaction from one account to another. Here's an article for your reference: Categorize and match online bank transactions in QuickBooks Online

 

If in the For review tab of your savings account, you select your checking account as the Transfer account but unable to record the transaction as a transfer, it could be due to a browser issue. Temporary internet files that accumulate in your browser can sometimes cause bugs in the software. To ensure your app or browser is running the program as designed, I recommend following the troubleshooting steps in this article: Clear cache and cookies to fix issues when using QuickBooks Online

 

Another good troubleshooting step to resolve these kinds of errors is to navigate in a private/incognito window or use a different browser compatible with QuickBooks Online. Here's an article with the list of supported browsers: System requirements for QuickBooks Online, Accountant, and QuickBooks Self-Employed

 

I hope this helps you get back on track! Don't hesitate to reach out if you have more questions.

 

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