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Intuit

Remove duplicate transactions or personal expenses from bank feeds [Video]

Exclude downloaded transactions if you need to keep a personal expense out of your business finances or if you have duplicate bank transactions.

To exclude transactions:

  1. Select Banking from the left menu.
  2. In the For Review tab, put a check mark on the transactions you want to exclude.
  3. When done, go to the Batch Actions drop-down and choose Exclude Selected.

You can go to the Excluded tab if you need to see what you've excluded. The transactions aren't tracked or reported as part of your business finances and they won't appear in any associated account registers or reports. If you have accidentally excluded a transaction, you can include again it by following these steps:

  1. Select Banking from the left menu.
  2. Go to the Excluded tab.
  3. Put a check mark on the transactions you like to include again.
  4. When done, go to the Batch Actions drop-down and choose Undo.

The transactions will be moved back to the For Review tab. You can categorise, add or match the transactions again.

Notes on reconciling the account

If personal expenses are excluded:

  • If you exclude a transaction, your bank register won't reconcile because the bank balance and QuickBooks Online balance won't match. If you don't reconcile your bank statements with QuickBooks Online, this is fine.
  • If you reconcile your bank registers (or your accountant instructs you to), track your personal expenses by adding yourself as a supplier and assigning the transactions to an owner's equity account (often called an owner's draw).

If duplicate transactions are excluded:

If you Exclude a downloaded transaction because it's a duplicate, your balances will match and you'll be able to reconcile.