Learn how to exclude a downloaded bank transaction.
Sometimes, you may want to keep a downloaded transaction from going into your company expenses. Here’s how to exclude it and keep your books in order.
Excluding vs. deleting a transaction
Once a downloaded transaction is either accepted or excluded, QuickBooks will stop the bank from bringing the transaction into the bank feed again.
If you delete the transaction instead of excluding it, the system will recognise the transaction as unaccounted for and download it again from the bank.
Step 1: Check if you should exclude the transaction
Before excluding a downloaded transaction, make sure it’s the right thing to do for your accounting. This may make it easier or harder for you to reconcile an account.
Consider the following situations:
- If it’s a duplicate transaction, excluding makes sense.
- If it’s a personal expense, it’s best to add it to QuickBooks instead of excluding it. Otherwise, your bank account in QuickBooks won’t match your bank statement when reconciling. To avoid recording the transaction as a business expense, many business owners add the transaction to an equity account they’ve created, called an owner’s draw.
Excluding a transaction means it won’t show up in your account records or financial reports.
As always, check with your accountant or bookkeeper if you’re not sure how to handle a personal expense or any other type of transaction. We can help you find an Accountant.
Step 2: Exclude a downloaded transaction
Once you confirm that excluding a transaction makes sense, here’s how to do it. Choose an appropriate heading based on the device you are using.
Exclude a transaction in QuickBooks Online on a web browser
- Go to Transactions and select Bank transactions (Take me there).
- Select the For Review tab.
- Select the checkbox of the transactions to exclude.
- Select Exclude.
The transaction moves to the Excluded tab of the Bank transactions page.
Undo a mistakenly excluded transaction
If you’ve excluded a transaction by mistake, don’t worry. You can easily fix it by following these steps:
- Go to Transactions and select Bank transactions (Take me there).
- Select the Excluded tab.
- Look for the transaction you want to undo.
- Select Undo.
The transaction moves back to the For Review tab so you can decide what to do with it again.
Exclude a transaction in the QuickBooks Online app
For Android:
- Go to Menu ☰ and select Transactions.
- Select Review transactions.
- Select the transactions to exclude.
- Select Exclude.
- Select Confirm.
For iOS:
- Go to Menu ☰ and select Transactions.
- Select Review transactions.
- Select the transactions to exclude, then select the delete icon.
- Select Exclude.