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Exclude a bank transaction you downloaded into QuickBooks Online

SOLVEDby QuickBooks605Updated 2 weeks ago

Learn how to exclude a downloaded bank transaction.

Sometimes, you may want to keep a downloaded transaction from going into your company expenses. Here’s how to exclude it and keep your books in order.

Once a downloaded transaction is either accepted or excluded, QuickBooks will stop the bank from bringing the transaction into the bank feed again.

If you delete the transaction instead of excluding it, the system will recognise the transaction as unaccounted for and download it again from the bank.

Step 1: Check if you should exclude the transaction

Before excluding a downloaded transaction, make sure it’s the right thing to do for your accounting. This may make it easier or harder for you to reconcile an account.

Consider the following situations:

  • If it’s a duplicate transaction, excluding makes sense. 
  • If it’s a personal expense, it’s best to add it to QuickBooks instead of excluding it. Otherwise, your bank account in QuickBooks won’t match your bank statement when reconciling. To avoid recording the transaction as a business expense, many business owners add the transaction to an equity account they’ve created, called an owner’s draw.

Excluding a transaction means it won’t show up in your account records or financial reports.

As always, check with your accountant or bookkeeper if you’re not sure how to handle a personal expense or any other type of transaction. We can help you find an Accountant.

Step 2: Exclude a downloaded transaction

Once you confirm that excluding a transaction makes sense, here’s how to do it. Choose an appropriate heading based on the device you are using.

  1. Go to Transactions and select Bank transactions (Take me there).
  2. Select the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Select Exclude.

The transaction moves to the Excluded tab of the Bank transactions page.

Undo a mistakenly excluded transaction

If you’ve excluded a transaction by mistake, don’t worry. You can easily fix it by following these steps:

  1. Go to Transactions and select Bank transactions (Take me there).
  2. Select the Excluded tab.
  3. Look for the transaction you want to undo.
  4. Select Undo.

The transaction moves back to the For Review tab so you can decide what to do with it again.

For Android:

  1. Go to Menu ☰ and select Transactions.
  2. Select Review transactions.
  3. Select the transactions to exclude.
  4. Select Exclude.
  5. Select Confirm.

For iOS:

  1. Go to Menu ☰ and select Transactions.
  2. Select Review transactions.
  3. Select the transactions to exclude, then select the delete Image Alt Text icon.
  4. Select Exclude.

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