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steelaway81lo
Level 1

Intuit quickbooks treats transfers between Commbank Savings and Transaction account as Owners Drawings ? Every transaction shows either trans TO or trans FROM SAVINGS?

There has to be a simple way to match these transfers ? I created multiple rules to search for transfer or trans but that doesn't work.

1 Comment 1
ThomasJosephD
QuickBooks Team

Intuit quickbooks treats transfers between Commbank Savings and Transaction account as Owners Drawings ? Every transaction shows either trans TO or trans FROM SAVINGS?

You can check the bank rules in QuickBooks to see if there's a specific rule that categorizes your CommBank Savings and Transaction account activity as Owners Drawings, steelaway81lo.

 

When you create multiple bank rules in QuickBooks, the system applies them based on the order they were created, prioritizing the rules made first. If the rule incorrectly assigns transactions to Owners Drawings, you can correct it by disabling that specific rule, as well as any others you don’t plan to use.

 

Here’s how you can locate and disable these rules:

 

  1. Navigate to Accounting and select Rules.
  2. Find the rule that categorizes transactions as Owners Drawings.
  3. Click the dropdown arrow next to Edit for that rule.
  4. Select Disable.
  5. Repeat these steps to disable any additional rules you no longer need.

 

To ensure the remaining rules are applied correctly, you can edit the ones you intend to use. You can follow these steps:

 

  1. Go to Accounting and select Rules.
  2. Locate the rule you want to edit and click Edit.
  3. Specify if the rule applies to Money In or Money Out transactions.
  4. Add a Description/Bank Text that contains "Trans" for clarity.
  5. Scroll down and assign the appropriate Transaction Type and Account.
  6. Click Save to apply your changes.

 

To apply the corrected rules to the categorized transaction, you need to undo the transaction first.

 

To effectively apply the bank rules, you can refer to this article: If your bank rules aren't getting applied to transactions.

 

Let me know if you need further assistance.