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T
TimCA
September 16, 2024
Question

Can I re categorize a check that has been cashed?

  • September 16, 2024
  • 2 replies
  • 0 views

Good morning,

I sent a check to a vender, when I went to reconcile it I noticed that it was not only categorized wrong but also missing two other category's / descriptions.  

My question is can I re categorize it and if so what is the best way to do it?

 

Thanks

 

2 replies

R
rvrfrf
September 16, 2024

Thanks for getting in touch with the Community, TimCA.

 

If you're using an Advanced subscription, you can reclassify transactions with your reclassify tool.

 

Here's how:
 

  1. Use the Gear icon, then go to Reclassify transactions.
  2. From your Account types drop-down, choose Profit and Loss to see income and expense accounts, or Balance Sheet to see asset, liability, and equity accounts.
  3. For the Account list, pick an account with transactions you want to change.
  4. Use your type, class, customer/vendor, and modify filters to filter the list. You can also select Accrual to see all paid/unpaid transactions, or Cash to see only paid transactions.
  5. Click Find transactions and tick your checkbox for each transaction you want to change. Before moving transactions to Accounts Receivable or Accounts Payable, confirm there's a customer or vendor. These fields shouldn't be left blank.
  6. Hit Reclassify and choose a new account to move the transactions to from the Change account to drop-down, a new class from your Change class to drop-down, or a new location from the Change location to drop-down.
  7. When you're finished, select Apply.

 

In the event you're not using an advanced subscription, you can upgrade any time.

 

It's always a great idea to check with your accountant before making changes to records. You may want to check out one of our available services called QuickBooks Live Expert Assisted. This service provides ongoing guidance and support to help drive the business's success. Bookkeeping experts can provide answers to questions and teach best practices like which categories you should be categorizing transactions into, and whether you've categorized transactions correctly or not.

 

I've also included a detailed resource about reclassifying transactions which may come in handy moving forward: Reclassify or move multiple transactions in Accountant & Advanced

 

I'll be here to help if there's any additional questions. Have a great Monday!

T
TimCAAuthor
September 16, 2024

So, I do not see that in the Gear - Tools list.  So with that said, once it has been cashed, and IF I changed the Category, Description Class and or tag what would happen if anything.... If I can what would be the proper way, gust fixing it on the check screen ???

 

Example

Check #1234  Paid (and cashed by) to John Doe  for $1000 -

     Category  64200 Reimbursements $750

     Category  61700 Per Diem $250

 

Changed to -

Check #1234  Paid to John Doe  for $1000-

     Category 64300 Training and travel  

                           643111 Event Registration $500

                           643113 Lodging $200

                           643110 Per Diem $250

                           642114 Ground Transportation. $50

K
KayePe
September 16, 2024

The reclassifying of transactions is a feature for QuickBooks Online Advanced only. If you're using a different subscription, I can guide you on how to edit the check manually, @TimCA.

 

Once the check has been cashed, you can still re-categorize and add categories/descriptions in QBO. However, it's essential to know that changing the category or tag may affect your overall financial reports. If you're not subscribed to QBO Advanced, you can still achieve your goal by manually modifying the check in the Bank Register. I'll show you how:

 

  1. In the Gear icon, click Chart of accounts.
  2. Find the account you want to review. Then, in the Action column, select View register.
  3. Click the transaction you want to modify then hit Edit.
  4. Once it is open, you can edit the category based on what you intend to modify. If done, hit Save and close.

 

 

 

 

I appreciate you for adding a response to your concern. Know that the Community team is here for you to assist. If you have additional questions, drop them here. 

BigRedConsulting
BigRedConsulting
September 16, 2024

RE: My question is can I re categorize it and if so what is the best way to do it?

 

I think open the check from the bank register and change the details of the check to be what they should be and then save it.

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