I have received a credit for insurance that has been cancelled. How do I reconcile this is banking?

Thanks for posting in the Community, Kezza.

If the bank transaction is showing as money in from the For Review tab of QuickBooks Online, you can allocate it as a deposit, and under the category field use the account you've allocated to pay on the insurance (e.g: insurance income account).

Here's how to review and categorise a bank transaction:

1. Click on the Banking/Transactions tab.
2. Click on the bank account you want to review.
3. Click on the transaction, and under the Transaction type select Deposit.
4. Under Category, choose the account like income or expense account you've used to pay the insurance.
5. Fill out other fields like GST code and etc.
6. Click on Add if you have not recorded any transactions in QuickBooks Online. Otherwise, click on Find match to locate possible matches of a manually recorded transaction in QuickBooks.

Once categorised and added in QuickBooks, the transaction will move to your Reviewed section. You can also check this link to learn more on how to Categorise and match online bank transactions in QuickBooks Online.

Post again here in the Community if you have other questions. Have a nice day.