Quickbooks Online: How to Change an Auto Added (Online Banking) Transaction from an Expense to a Transfer
Quickbooks Online Change an Auto Added (Online Banking) Transaction from an Expense to a Transfer
09-01-2019 06:49 PM
I’m glad you’ve reached out to the Community. Let me help share some details about updating bank account transactions in QuickBooks Online (QBO).
Did you manually create the expense transactions? If so, you’ll need to delete it and manually re-create the transactions as a transfer.
However, if this is online banking, you can Undo the accepted transactions to update the correct category.
To do this, please follow the steps below:
- Go to Banking menu.
- Click Banking tab.
- Choose the bank.
- Select IN QUICKBOOKS and locate the bank transfer.
- Click the transaction and hit Undo .
- Once done, go to the For Review tab.
- Locate and click the transaction.
- Select Record Transfer , and choose the correct account.
- Click Record Transfer .
If you need further assistance with the steps, I encourage you to contact our QuickBooks Online Support Team. They have additional tools to pull up your account in a secure environment and do a remote session.
You can contact our customer support by following these steps:
- Sign in to your QuickBooks Online company.
- Select Help (?) at the top right.
- Select Contact Us to connect with a live support agent.
For additional reference, you can check this article to learn more about the bank feeds transactions in QBO: Assign, categorize, edit, and add your downloaded banking transactions.
Please know that I’m just a post away if you have additional questions about updating bank category. Have a good one.
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“Add” means you have not created the transaction in QuickBooks Online. “Add” is to basically record the new transaction to the register in QuickBooks.
“Match” means you have already created it in QuickBooks Online. You want to match the downloaded transaction to the one created to register, so it’s not duplicated.
“Transfer” means you make a transfer from one bank account to another bank account (or credit card account). It’s not for entering an income or expense account to the transaction.
Once it’s downloaded transactions, for each downloaded transaction, QuickBooks will analyze the bank data and gives you possible suggestions like category or payee to accept the new transaction into QuickBooks. Since the item has not been created in QuickBooks, it’s your job to review the item and make changes if necessary. When you’re satisfied with the details (payee and account category), click “Add” at the end of the row. The transaction disappears from the list (“New Transactions” tab) and moves to the “In QuickBooks” tab.
To review an item:
Select a row. The row expands to show you more details.
Review the details in the expanded row:
QuickBooks may display a customer or vendor name, as well as a category. Uncategorized expense or income appears if QuickBooks can’t find a likely category. Again, it’s still your job to review item details before adding new transactions to the register. Also, see UNDO below.
When QuickBooks download bank data (via Bank Feed, WebConnect) in the “New Transactions” section of the banking page, it will look for a way to find a match with any QuickBooks transactions you have already created manually. If it finds a possible match, it lists the transaction in the Recognized tab and displays the word “MATCH” in green in the row. If it finds more than one possible match, it lists the transaction in the Recognized tab and displays the word “MATCH” in gray in the row.
Green color Match (one possible match):
Select a row. The row expands to show you more details.
Review the details in the expanded row:
QuickBooks displays one possible match from existing entries, like payments from customers and purchases to vendors. In this example (screenshot below), Invoice payment to Freeman Sporting Goods for $50.00 matches a downloaded deposit transaction, QuickBooks suggests it as payment for that invoice. If you agree, click Match. The transaction disappears from the list and moves to the “In QuickBooks” tab.
Gray color Match (more than one possible matches):
If more than one match is found, QuickBooks displays them as possible matches. Click to select the transaction that matches the bank item.
In this example (screenshot below), you have two Squeaky Kleen Car Wash expense transactions for $19.99. You will need to select one right transaction to match. Once you agree, click Match. The transaction disappears from the list and moves to the “In QuickBooks” tab.
Find other matching transactions (Optional)
If it’s not a correct match, click “Find other matching transactions” to search for a different match or to match to multiple transactions. If you found the right transaction to match, but the amounts are slightly off (due to discounts or fees, and so on), you can make an adjustment to resolve the difference.
(Click Find other matching transactions > Resolve Difference arrow > Add new transaction)
In this example (screenshots below), it was not a correct match. The $700.00 deposit was invoice payment from a different customer . Bank just took out $6.00 charges and deposited $694.00. It was shown as a possible match as a payment from a different customer. That’s why you need to review the transaction before click Match.
A transfer means money is being transferred from one of your accounts to another account that is both on your company chart of accounts. For instance, money is transferred from your checking account to a savings account. It can also be used when you pay a credit card from your checking account, as long as the accounts are both on your company chart of accounts. It’s basically a transfer of funds between accounts.
Note: QuickBooks doesn’t do actual transfer of funds, you make the actual bank transfer and record it in QuickBooks register.
To add items as a batch:
Click the checkbox for each row you want to add.
Click the “Batch actions” button at the top of the table:
To accept all the items without changes, click “Accept selected”.
To assign a single payee, category, class, location, and more, click “Modify selected”.
Make the changes you want in the Modify selected window and click “Apply”.
To now add the modified transactions to QuickBooks, keep the checkboxes selected and click “Batch actions” again.
Click “Accept selected”.
New Transactions” tab from the “In QuickBooks” tab on the Banking page.
“Undo” works for excluded transactions too. The steps are the same as described here, but you work from the “Excluded” tab instead.
To undo an add, match, or transfer:
In the navigation bar, click Transactions > Banking.
Select an account from the cards at the top of the page, and then click the “In QuickBooks” tab.
Find the transaction whose action you want to undo.
Click “Undo” at the right end of the row. The transaction disappears from the list and moves back to the “New Transactions” tab.
To undo multiple transactions:
Select the checkboxes for the transactions to undo at the left edge of each row.
Click the “Batch actions” button at the top of the table and select “Undo”. The transactions disappear from the list and move back to the “New Transactions” tab.
CAUTION: If your bank account is already reconciled, you normally do not want to undo reconciled transactions from here.
They recently changed the name label of the above two radio buttons:
“Match” changed to “Find match”
“Transfer” changed to “Record Transfer”
But it still works exactly the same way.
How to Change the Action Type of a Transaction in QuickBooks Online
QuickBooks usually does a great job suggesting the action types and categories for transactions. But, occasionally the software gets it wrong.
A common QuickBooks mistake is suggesting a transaction is a transfer when it’s not.
A transfer is when money moves from one account in your QuickBooks balance sheet to another.
Here’s an example of one of these transactions. QuickBooks thinks this is a transfer from Rewind Accounts to an account called Uncategorized Asset.
I know this transaction is not a transfer but actually a refund from Rewind.
To change this from a transfer to a transaction I’ll click the “Add” radio button.
Under Action, where it once said Transfer, it now says Add and I can now add this as a refund to my QuickBooks account.
To find out if you’ve missed any of these “transfers” you’ll want to check your balance sheet.
To do this click Reports in the left-hand menu and then select Balance Sheet.
If you see Uncategorized Asset in your Balance Sheet then you likely have transfers to fix.
Click on the total for the Uncategorized Asset row to see the transaction report.
Change the Report period to All Dates to make sure you’re seeing all the transactions.
In my example account I have one transaction that’s entered incorrectly as a transfer.
Click on “Transfer” to view the Transfer.
At the bottom of the screen you’ll see a gray bar, click More and select Delete.
A pop-up will appear asking if you’re sure you want to delete this, click Yes.
The transfer is now deleted. The transaction will appear back in your list of For Review transactions in Banking.
You can now switch this from a transfer to an income transaction by selecting Add as I showed above.
You now know how to change the Action Type for a transaction in QuickBooks Online. As well as changing a transfer to income or an expense. If you’d like to watch me walk you through this time tracking process you can watch the video below:
To resume scanning, click to clear the check box.
Expense reports with expense total = 0.00, or cash advance = 0.00, are not transferred.
If you process 100 or more expense reports per month, we recommend limiting this setting to no more than 60 days.
NOTE Autotask PSA has two system expense categories, Mileage and Entertainment, that must be mapped even if you don't use them. When you clear all expense categories, an error message appears to remind you that when you remap, you must map the Mileage and Entertainment categories.
To track the default Autotask PSA Departments of the resources who submitted the synced expense reports, click to select the check box. The department appears for each line item on the bill, under "Class".
To stop tracking the resources' default Autotask PSA departments, click to clear the check box.
In order to track an Autotask PSA Department, a QuickBooks Online Class name must match the Department Number field of the Department in Autotask PSA. For more details, refer to Track resource departments using QuickBooks Online classes.
Class Tracking is a QuickBooks Online feature and is not supported by Autotask PSA. For information, refer to QuickBooks Online documentation materials.
+Add Expense Category Accounting
Click +Add Expense Category Accounting to display the fields needed to map one Autotask PSA Expense Category to two QuickBooks Online GL accounts.
After mapping one expense category, click +Add Expense Category Accounting again to map another expense category. For details, refer to Map Autotask PSA expense categories (expense category accounting).
NOTE You must map all Autotask PSA expense categories. If a transferred expense report includes an item associated with an unmapped expense category, a sync error will occur.
For information on To-Do actions, refer to About action types.
Autotask PSA Line Of Business Sync Behavior
If you use Lines of Business in Autotask PSA, you can use them to filter which invoices get transferred to QuickBooks Online.
- Default - sync all (no filtering/mapping) - Use this setting to transfer all invoices to QuickBooks online, regardless of line of business.
- sync & map specific line(s) of business - You can use the lines of business in Autotask PSA to filter the invoices you want synced to QuickBooks for up to 10 Autotask PSA lines of business, and map them to specific classes.
IMPORTANT If you don't use filtering, you cannot map lines of business to classes.
NOTE To re-map lines of business, select the default and save, then remap. This will reliably clear the previous mappings.
Autotask PSA Lines of Business
This section lets you map Autotask division:lines of business to QuickBooks Online classes. You can map multiple lines of business to the same QuickBooks Online class.
Click +Add Autotask Lines of Business to display the fields needed to map an Autotask PSA Line of Business to a QuickBooks Class.
After mapping one Line of Business, click +Add Autotask Lines of Business again to map another Line of Business. For details, refer to Mapping Lines of Business to Classes.
Transfer quickbooks to expense change
How do I change a transaction from an expense to a transfer?
QB Issue Resolution:
- Choose Transactions and select Banking.
- Make sure the correct account “card” (at the top of the page) is selected.
- Click the In Quickbooks tab.
- Find and select the downloaded transaction you want to unmatch. To find your transaction more easily, click a column header to sort up or down by amount, date, description, and so on.
- Click the Undo button in the Action column.
You can can also unmatch several transactions at once by checking the box to the left of each transaction. Click the Batch actions drop-down and select Undo.
The downloaded transaction moves back to the New Transactions tab. The single or multiple QuickBooks transactions that were matched are now available to match, add or exclude.
Resolution for Issue 'How do I change a transaction from an expense to a transfer?' available: Yes (Solved).
Source: Intuit Community forum.
How do I change a transaction from an expense to a transfer?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Action column
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