Hi, Samuel. When you connect a credit card in the Bank transactions page, negative amounts are payments from your bank to lower your credit card balance. Meanwhile, positive amounts are expenses you made using the credit card.
Categorising the negative amount to an expense account, the credit card balance will decrease, and the expense balance will decrease. However, categorising it as an income account will have a different effect. The credit card balance will increase, and the income account will decrease.
Possibly, you have categorised the positive amounts to income accounts, causing your income to inflate. First, we need to go to the Posted tab and click Undo to change the incorrectly categorised transactions. Then, go back to the Pending tab.
Categorise the negative amounts to expense accounts, while you categorise the positive amounts to income accounts. This will prevent your income from inflating, and it will correct your credit card balance.
Meanwhile, you can also undo the bank transfers if they happened in the Bank transactions page (Posted). If you made the transfers directly in QuickBooks Sole Trader Plus, you can go to your register and delete them from there.
Having incorrect balances of the accounts will affect your MTD and filing of forms. Thus, it is best to correct the categorised transactions.
Let us know if you need anything else. We're here to help.
