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Chase QBO files incorrectly record TRANSFERS as CHK/DEP

Forum|Forum|5 years ago
May 25, 2021
2 replies
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I use Chase QBO files. When I import transfer between accounts they show up as DEP or CHK, when they should be TRANSFERS. This means I have to manually exclude these, then recreate the record as a transfer manually.

How do I get these to import as transfers?

QuickBooks Desktop

Best answer by BigRedConsulting

Yes there is a XFER transaction type in the OFX/QFX/QBO file format, which Chase could use for your bank transfers.

If you open your QBO file in notepad or similar text editor you can see what transaction types they're using. Look for "<TRNTYPE>XFER" for transfer transactions. If not found in the file, then they're basically doing it wrong. If you do find it and QuickBooks is trying to make a XFER a Check or Deposit, then QuickBooks is processing the file incorrectly.

DivinaMercy_N

Welcome to the Community, @kcroy.

I'd be glad to share with you some steps to import transfers in QuickBooks Desktop (QBDT). To do so, you can use the IIF tool.

Importing files using IIF is easy because the program is the one to format the file for you. However, creating .iif files from scratch is technically complicated and may require help from an IT professional. To learn more, please visit this article: IIF Overview: import kit, sample files, and headers.

For your additional reference, please check out this link: Import and export data in QuickBooks Desktop.

You can also look for a third-party application to help you import Transfers transactions to QBDT. Here's how:

Head to the QuickBooks Desktop app store at this link.
In the search bar, enter a keyword of the feature you need. Example: Import Transfers.
Then, click Search.

Then, to look for sources and articles that you can bookmark for future use, please visit our QuickBooks Help page. Simply, enter a keyword of your concern on the search box or select any of the categories displayed.

Should you need any assistance with importing transfers in QuickBooks, please leave a reply below. I'm available here to help at any time. Take care always.

K

kcroyAuthor

I'm asking about QBO not IIF

C

ChristieAnn 11

Welcome back to the thread, kcroy. I appreciate you for confirming that you're asking for the QuickBooks feature itself, not the IIF.

As I shared information in your other post when importing banking transactions in QuickBooks Online using your bank file format, the system depends on the information shared by the bank. That said, I suggest contacting your financial institution. They can share detailed information with the correct code for Transfers. This is to make sure that you properly download entries to QuickBooks.

Just in case you haven't been notified of my response, here's the link: https://quickbooks.intuit.com/learn-support/en-us/other-questions/re-what-is-the-qbo-code-for-transfers-here-is-the-one-for-check/01/879234#M74752. From there, you'll see detailed information on how importing entries works in QuickBooks.

Please refer to this article to view steps on how you can review downloaded bank and credit card transactions and put them in the correct accounts by matching and adding them to avoid duplicate entries: Categorize and match online bank transactions in QuickBooks Online.

You're always welcome to visit this thread again if have follow-up questions. Just add the details below and I'll get back to you as soon as possible.

BigRedConsultingAnswer

Yes there is a XFER transaction type in the OFX/QFX/QBO file format, which Chase could use for your bank transfers.

If you open your QBO file in notepad or similar text editor you can see what transaction types they're using. Look for "<TRNTYPE>XFER" for transfer transactions. If not found in the file, then they're basically doing it wrong. If you do find it and QuickBooks is trying to make a XFER a Check or Deposit, then QuickBooks is processing the file incorrectly.

K

kcroyAuthor

Thanks - I don't see the XFER anywhere. Can you provide a sample of what it _should_ look like - I'm not sure what fields need to be included, and cannot find a simple example of a transfer between two account.

BigRedConsulting

@kcroy

RE: Can you provide a sample of what it _should_ look like

Yes, here's an example transfer:

<STMTTRN>
    <TRNTYPE>XFER
<DTPOSTED>20210308120000.000[-8:PST]
    <TRNAMT>5000.00
    <FITID>[removed]
    <NAME>From Smith T Ref Op09z29d3p
    <MEMO>RECURRING TRANSFER PRIME CHECKING
</STMTTRN>

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