Bank Feed imported incorrectly - spent showing as received and vice versa

I appreciate the complete details you've shared, @kaykay331.

Depending on how your bank shares its data (bank transactions) to QuickBooks, manually changing the amount columns from Money Received to Money Spent is unavailable. You can exclude each transaction and delete them. I can guide you on how to do it.

1. Go to the Banking menu.
2. From the Banking page, locate the bank account that displays the incorrect list of transactions.
3. Hover to the For Review tab.
4. Find and mark the boxes of the downloaded transactions.
5. Click the Batch Actions drop-down menu.
6. Choose Exclude Selected.

Once excluded, these transactions will show up in the Excluded tab, and that's where you can delete them:

1. From the Excluded section, check the boxes of the transactions you want to delete.
2. Go to the Batch Actions drop-down menu, and select Delete.
3. Click Yes to confirm.

Now, you can start downloading your bank transactions directly from your bank's website. Just make sure that the file has either of the following formats: 

3-column Template

4-column Template

Once the bank file is ready, start importing the file to your QuickBooks Online company. Here's how:

1. Click Banking from the left navigation panel.
2. Pick File Upload from the Update drop-down menu or Upload transactions manually if there isn’t any bank connected to QBO.
   
3. Select Browse and choose the file you downloaded.
   
4. Choose an account from the list, then Next.
5. On the Amount section, select the columns according to your CSV file.
   • Note that the Money Spent is for your expenses while the Money Received is your deposits. 
6. Select the transactions to import. 
7. Click Yes.
8. Hit Let’s go.

Lastly, you can review and categorize each imported transactions. Also, you can read through this article to help you with fixing online banking issues for your future reference: Fix online banking errors in QuickBooks Online.

Keep me posted if you have any other questions with this concern. I'll make sure to get back to you as soon as I can. Enjoy your weekend!

Greetings, @kaykay331

I want to make sure that you're able to import your bank transactions properly. Have you tried the steps that I've shared? Were you able to record your income and expense transactions? If you need more clarification on this, just leave a comment below. I'll be sure to get back to you.

Have a great day ahead!

Yes, I already know how to exclude the incorrect transactions and import the transactions correctly via the manual option. HOWEVER, I would like to not have to do this for this account since ML is a huge bank and their affiliated banks (Bank of America) are importing just fine. I saw a thread on the Australia version of QBO that said the QBO engineers were able to take a look at the connection with the bank and fix it on the engineer end rather than just put all the onus on the user. So I posted in hopes that QBO US might do the same? Here's the AU thread I'm referring to: https://quickbooks.intuit.com/learn-support/en-au/banking/bank-feed-imported-incorrectly/00/411798

I appreciate you for taking your time in getting back to us, @kaykay331.

Yes, we can request for our Product Developers to conduct an investigation and look into the root cause as to why your Merrill Lynch account downloads an incorrect list of transactions. 

Since the Community space is a public forum, I'd recommend contacting our Technical Support team. They have the tools to securely look up your account and initiate the investigation using your account's information. Here's how to contact us:

1. Go to the Help menu. 
2. Choose Contact Us.
3. Enter your brief concern in the box.
4. Press Let’s talk.
5. Select Get a call. 
6. Enter your personal information.
7. Click Confirm my call.   
   

Just a heads-up, we have limited expert support staff and reduced our support hours to 6 AM-6 PM PT Monday-Friday due to the ongoing pandemic.

Get back to us here and let us know how your request goes by leaving a comment below. The Community and I are always here to help. 

Hi - instead of putting the onus on the users to fix the problem (and I am experiencing the same issue), can you, as part of the QB team, contact support / engineering and figure it out and report the solution back to the users / customers on the thread?  

@cblackledge , I agree! And what makes it worse is when the reps say that this depends on how the banks send out transactions to qb.. but many users had reported this issue before and they used different banks. So what is this, a coincidence? Well, I don’t mean to disrespect, but I don’t buy that FACADE reason anymore! 

Hi,

I know this is an old post but I really need help. I am organizing my records and its my first time to use QBO online. I am using a Simple Start. I downloaded a pdf file from online bank and convert it to qbo file using moneythumb. When I import my credit card statement from last year, the bank feed is reversed, instead of the amount charged on my credit card supposed to be under the spent, now it is under received.

Please help! Thanks!

Hello there, @livelifekrafts. 

It seems that my colleague has already answered your concern about the transactions imported in reverse in your QuickBooks Online. If you’re not yet notified of his answer, let me direct you there by clicking this link: https://quickbooks.intuit.com/learn-support/en-us/other-questions/re-the-same-issue-only-form-used-i...

Feel free to drop by if you have further concerns with your banking. Know that the Community always has your back. Stay safe!

I did what you suggested and the upload it still backwards. My received amounts are coming in as spent and verses with spent amounts. I’ve deleted the transaction and tried 3 times now to unload it. Every time it backwards. Please help. 

Thank you for posting your issue here in the Community, @Txfordgirl.

I appreciate you performing the steps shared by my colleagues above. I want to ensure you can upload your bank transactions correctly to QuickBooks Online (QBO).

Just to clarify, are those bank transactions are imported manually into your QBO account? If so, you'll want to make sure the Debit and Credit columns on your CSV file are placed properly. This way, the spent and income will show properly in your bank feeds.

However, if it's connected to QBO, I recommend reaching out to your bank. They may check the transactions further and provide some information on how they download transactions to QBO.

Once you're ready to reconcile your bank account, you can check out this article: Reconcile an account in QuickBooks Online. This will help make sure your QuickBooks transactions match your bank statement.

Please don't hesitate to leave a comment below if you have other concerns or follow-up questions about your bank transactions. I'm always here to help.

Not sure if this applies here or not, but I was having this issue when downloading credit card transactions past a certain point in time that were automatically imported. I had to download it as a CSV file, but then they were trying to post as credits in the account rather than expenses. I went back to the file and made sure all the amounts were listed as negatives, but that didn't make a difference until I went back and made sure my download was "saved as" a CSV UTF 8 (Comma Delimited) format... then it uploaded correctly and saved me a lot of time manually entering each transaction. 

3 years later and I am also having the same issue (the original post is from 2020 and this is being written on April of 2023). 

I contacted the "customer support"  (that is a phrase that QuickBooks uses very lightly) and a person who sounded like a 12 year old and who unfortunately spoke VERY limited English had me on the line for 49 wasted minutes of my and my bookkeeper's lives, which neither of us will ever get back.  Mind you, English IS MY second language and I have an accent, so please know that I do not like to make fun or disparage people for having an accent, for not being able to pronounce words accurately or for being from another country or culture.

The situation in this particular case, though, was the that person with whom we spoke did not understand any of the times what the problem was, even though we were sharing the screen with them and showing them what the issue was repeatedly.  After the first time I explained the problem and showed them what it was on the screen, I had a strong inkling that the person had not understood a lick of what was said, so when they were about to put me on hold "to consult", I stopped them and asked them if they had understood what the problem was.  They mentioned something about a client.  Both the bookkeeper and I said that the issue had NOTHING to do with clients and we both went over the problem with them again.  When he/she (the name was Ronin and they sounded like a 12 year old, I have no idea whether it was a he or a she, hence the "they") explained back the problem to me correctly, I said, ok, we will wait, and we waited for about 10 or 15 minutes.  After that they came back to ask AGAIN if the problem was what had been explained and shown 3+ times at the beginning.   Both the bookkeeper and I were about to lose it. 

That cycle of putting us on hold and coming back to ask what the problem was happened again.

At that point I said to the person “I am sorry and please know I do not mean to be rude or mean to you, but your ability to speak English seems to be insufficient.  Is there anyone else with whom we can talk?”  The next part went on until the end of the call.  They said they were going to try to help.  I said “no, please let me talk to somebody else”. They insisted that they would help.   I asked to be transferred to a supervisor.  Can you guess the answer?  “They are all in a meeting”, so of course no one to whom we can report the issue. 

I asked to talk with another “representative”  They said that there was no one else because it was closing time.  I asked for a Spanish speaking representative, hoping that they would at least speak in their native language and the explanation to them would be more effective.  Ronin insisted they could help.  I insisted in the Spanish speaking rep and they said that they would give me the number for a Spanish speaking rep.  We were even more frustrated by then because we were hoping to be transferred and not having to initiate another call.  However, even though my bookkeeper does not speak Spanish, we both agreed to get the Spanish speaking number, in hopes it would be more effective.  Ronin gave us the number and said they were going to see if they could get an answer for us.  While they were gone, we tried the Spanish speaking “customer service“ number on the bookkeepers phone.  The number Ronin gave us?  It was the number of the company that provides QuickBooks with over the phone interpreting services, which QuickBooks calls when they need language interpretation.  QuickBooks is THEIR client, you cannot just call this company asking for services, not unless you have set up an account with the interpreting service company and you pay them.  So, Ronin was not even able to do that correctly.

On top of it all, had we asked for an interpreter, the interpreter would have interpreted from Spanish into English TO RONIN…. So the problem would be absolutely the same, with Ronin’s English proficiency being much less than adequate.

The 3rd or 4th time they tried to “get a solution”, they came back to tell us to “just exclude the data”, without any real solution.  The bookkeeper tried to tell them it was a glitch or a problem in QUICKBOOKS SOFTWARE that was causing this, and QB needed to fix it, not just give workarounds that could potentially mess things up later.

By then we started to demand to talk to another level of customer support.  They gave us a number, which we called right then and there from the bookkeeper’s phone, just to make sure Ronin was not just sending us through another rabbit hole… the number they gave us was an old “customer support” number for QuickBooks that DOES NOT WORK anymore and that referred you to… you guessed it, the “Help Section” of QuickBooks Online, which is how we got in touch with Ronin to begin with.  Ronin heard the call because we had it on speaker. I sincerely don’t think they understood what the recorded message said.

Ronin then started to say there was no one else because business hours were over and that they would call me the next day and had the audacity to ask for my number, which they already had.   My blood pressure was pumping very rapidly on my veins, so before both the bookkeeper and I had coronaries, we just disconnected the call.

All this to say, 3 years have gone by, and YOU ARE YET TO FIX THIS, EVEN THOUGH YOU HAVE GREATLY INCREASED THE PRICE OF YOUR “SERVICE”????  Is this what I am paying for?  Horrible customer service and glitchy software that makes me and my bookkeeper waste precious time doing double work?  Will you pay for the time we have wasted on this and for the time it will take to do the work-around just because you are so friggin’ lazy that you cannot bring yourselves to fix something that is clearly a problem to many users of the software?