cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
rtnbasketball1
Level 1

I cannot reverse credit card payments marked as expenses instead of transfers

 
2 Comments 2
Rajanikanth
Level 6

I cannot reverse credit card payments marked as expenses instead of transfers

Hi,  

Move to the credit card expenses transaction screen > Bottom taskbar > click More > click Void > popup message click Yes, This will reverse the transaction with zero values.

Use the Credit card credit screen to make the payment to credit cards.

 

Feel free to contact me for further clarifications.

 

 

 

 

 

LauraAB
QuickBooks Team

I cannot reverse credit card payments marked as expenses instead of transfers

Hello rtnbasketball1,

 

Welcome to the QuickBooks Community! It's good to hear you're being mindful of how your transactions are being recorded in QuickBooks Online, and it's important to me that you have the steps to correct these entries. I'm here to help.

 

It sounds to me like you may be working in with the Bank Feed feature and a transaction accidentally got accepted as an expense rather than a transfer like you were looking for. If that's the case, what you can do is navigate back to the banking feed area of your books to undo it and recategorize it the way you'd like. Here's how.

  1. Select Transactions or Banking from the left menu.
  2. In the bank feed, select the account in question.
  3. Go to the Categorized tab.
  4. Find the transactions you need to change and click Undo.

This puts those transactions back in the For Review section, where you can then handle them as you normally would. If you need it, here's our article about handling tasks in the bank feed: Categorize and match online bank transactions in QuickBooks Online

 

If the transactions were recorded manually as expenses, you can do as Rajanikanth to void the expenses or you can even delete them if you'd like. The Enter and manage expenses in QuickBooks Online article has a detailed look at how you can manage your expense transactions in QuickBooks Online.

 

As for recording the credit card payment, please review the options in this article: Record your payments to credit cards. There are a few, such as using the Pay down credit card feature, using a cheque transaction, or using the Transfer feature. The option that Rajanikanth mentions, credit card credit, isn't intended for making payments against your credit card, but is rather for when you receive a refund from a supplier to your credit card. This article explains: How can I record a cash back to my credit card account? To accurately record payments you're making against your credit card balance, I recommend one of the other options instead.

 

I hope this helps with tackling your situation. I'll be around, so don't hesitate to ask more questions if you have them.

Need to get in touch?

Contact us