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Level 1

Bank downloads in qbo

After I have imported and added transactions they move to the "categorized" tab.  I have quite a few transactions accumulating under the categorized tab.  Is there a reason to keep them?  Can I clear them out?  If I can clear them out, is that done by moving them to "excluded" and then deleting them?  Thank you!

5 Comments
Community Champion

Bank downloads in qbo

Have you accepted all the entries by Confirming at the end of the line or going to the Batch (lower left in QBD, not sure  on QBO)?  Your Bank Feed should clear out once everything has been matched and accepted.

 

And I've found the Bank Feed the easiest to use if the various entries are already in the correct QB Acct.  Then everything should come up Matched and you just need to do a Batch Accept.  If you do have something that's not matched, then you can spend a little more time figuring out if it's just an entry typo or if there's a more serious problem you need to resolve. 

 

Granted, you can enter things for the first time through the Bank Feed, but I find it a lot  more cumbersome and time consuming for what should be a quick simple process.

 

 

Level 1

Bank downloads in qbo

QBO and QBD have slightly different processes for bank downloads.  In QBO, which I am using, the bank feed downloads transactions into a For Review tab.  You can select, edit, match that transaction and then "add" it.  Once it has been added (it posts to the accounts) then the transaction moves over to a Categorized tab.  It is the transactions in this list that I am asking about.  Thank you for your reply.  

QuickBooks Team

Bank downloads in qbo

Good Afternoon, @SNatzke

 

Thanks for reaching back out to the Community. The categorized tab on the banking page will accumulate these transactions, which is how the system works. Once you add or match the transaction(s), then they'll go into this categorized tab because they're sorted out and reviewed. This will also put these transactions into the register/check register of the account. Here's an article that can provide some additional information: Categorize and match online bank transactions in QuickBooks Online

 

I recommend consulting with your accountant on what to do next with these transactions. If you need to keep them or exclude them. If you don't have an accountant, you can check out this link to find one near you. If they decide to exclude them, here's a guide that can help you out: Exclude expenses from downloaded bank transactions.

 

Let me know if there's anything else I can help you with. Have a great day!

Level 1

Bank downloads in qbo

Thanks for your reply.  I do understand how the transactions get to the categorized tab.  My question is - what is the impact of removing them?

Moderator

Bank downloads in qbo

Hello again, SNatzke.

 

Allow to chime in and provide information about bank feeds. 

 

At the time you accept bank transactions, they move from the For Review tab to the Reviewed tab, so you always have a record of the items you accepted. 

 

If they shouldn’t be part of your accounting, you can exclude bank items which will be transferred to the Excluded tab. It means that it will not be included on your QuickBooks record. However, if you change your mind, you can always undo a transaction you accepted or excluded.

 

Take a look at this article to learn how to review bank and credit card transactions after you download them: Categorize and match online bank transactions in QuickBooks Online.

 

If you have follow up questions with me, leave a comment below. I'd be more than happy to answer it for you. Have a great day!

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