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Interest or bank charge shows up twice when reconciling and in the register in QuickBooks Online

by Intuit Updated 1 month ago

Learn how to fix bank fees or interest income which appears both as payment and deposit in the register or when reconciling in QuickBooks Online.

This happens if the bank account is incorrectly assigned twice (as both the debit the credit account) to a bank fee or interest income entry.

Here's a quick guide to fix the error by re-categorizing the bank fee as an expense, and the bank interest as income on the Reconcile screen or Bank Register.



Fix duplicates on the Reconcile screen

  1. Go to Settings ⚙, then select Reconcile.
  2. From the Account ▼ drop-down, choose the appropriate bank account.
  3. Select Resume reconciling.
  4. Select the bank fee or interest income, then Edit.
  5. Correct the entry.
    • Bank fee entry: In the Account column, change the account from Bank to the Expense account you use for bank fees.
    • Interest income entry:
      1. Go to the Add funds to this deposit section.
      2. Under the Account column, change the account from Bank to the Income account you use for bank interest.
  6. Select Save and close or Save and new.


Fix duplicates on the Bank Register screen

  1. Go to Settings ⚙, then select Chart of Accounts.
  2. Look for the bank you've reconciling, then select Account history.
  3. Select the Filter ▼ drop-down next to All.
  4. From the Reconcile status ▼ drop-down, select Not reconciled.
  5. Select Apply.
  6. Select the bank fee or interest income, then Edit.
  7. Correct the entry.
    • Bank fee entry: In the Account column, change the account from Bank to the Expense account you use for bank fees.
    • Interest income entry:
      1. Go to Add funds to this deposit section.
      2. Under the Account column, change the account from Bank to the Income account you use for bank interest.
  8. Select Save and new or Save and close.

This automatically removes the duplicate and corrects the bank balance.

Tip: Avoid this error when categorizing and matching downloaded bank transactions. Remember to change the account selection before you add bank transactions. QuickBooks will remember the categories, and will predict and recommend the correct accounts the next time.

Learn more about the reconcile flow in QuickBooks.

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