Skip to main content
C
CGAccounting420
October 18, 2023
Question

Automated Bank Transfers not posting in QB correctly

  • October 18, 2023
  • 1 reply
  • 0 views

a transfer by the bank from one account to another is coming in to QBO in a journal entry opposite the way the funds should go. For instance a Credit comes in to QBO for what should be a deposit transfer, but is posting as a payment.  It should be a debit for a deposit transfer, posting as a deposit in the QB bank account.  The 2nd part of the transaction is also incorrect - a Debit comes in to QBO for the 2nd bank account, for what should be a withdrawal transfer, posting as a deposit to the QB bank account.  This is a reoccurring event at the bank and the bank accounts are good. How can I set up a rule to fix the incoming debit to be a credit, and the incoming credit to be a debit?

1 reply

R
rvrfrf
October 18, 2023

Thanks for reaching out to the Community, CGAccounting420.

 

You may be able to make changes to transactions your bank sent to Intuit with bank rules. Before attempting to do so, I'd recommend working with an accounting professional to verify if the information needs to be changed, and etc.

 

If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

 

You can refer to our Set up bank rules article for detailed steps on how to create bank rules. In step 4 of creating a bank rule, you'll notice you can specify whether the transaction will be Money in or Money out. You can also change your Transaction type in step 8.

 

You may also want to get in touch with your financial institution to discuss why transaction information is being sent to Intuit incorrectly. This way, if something's wrong on their end, they can look into correcting it.

 

If there's any additional questions, I'm just a post away. Have a lovely day!

Terms & ConditionsAccessibility statement