cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Visit this post for a list of recent banking issues in QuickBooks Online.
hanw
Level 1

Banking: why transactions filter as expense or transfer?

Hello there,

 

Thank you for reading this post :)

 

I'm reconciling the bank account using QB online and keep noticing that sometimes a supplier payment will show as either a transfer or expense.  Does anybody know why this would happen? This is happening for a particular supplier and we're paying via bank transfer.

 

Is there any way to set it up so it's always only one or the other?

 

Thank you

Hanw

1 REPLY 1
BettyJaneB
QuickBooks Team

Banking: why transactions filter as expense or transfer?

Glad to have you back here in the Community, @hanw.

 

I can provide some insights on why payment is showing as expense or transfer on your bank transactions. 

 

Money movement between bank (asset) or credit card (liability) accounts can be represented by Transfer, Expense, or Deposit transactions in QuickBooks Online. The system analyses all the information received from your bank for each downloaded transaction, to give you the best possible suggestions for accepting the transaction.

 

Having that said, setting them up for a specific category isn't available. When transactions are not categorized accurately based on the nature of the entries, you can edit the category from transfer to expense or vice versa.

 

To do that:

  1. Click on Banking form the left pane.
  2. Select on Banking tab.
  3. Under the For Review, click the transaction to edit.
  4. Choose the Edit radio-button.
  5. On the Category field, select the expense account.
  6. Press on Add.

I'd also like to share these great links attached that contain in-depth details about how categorizing and adding bank transactions works in QBO. You can always check them out:

If you have any other concerns or questions, let me know. I'll be around to address them for you. Have a nice day!

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Accept as solution"

Need to get in touch?

Contact us