I brought transactions from my bank into QB Desktop Pro 2020 via a QBO file. QB somehow treated three of the deposits as transfers. I need to create a split transaction with these deposits and I can't do that as these entries now stand. Is there a way to convert the transfers to deposits without deleting the transfer entry and creating a new deposit entry?
I see all kinds of similar questions online, but they all refer to QB Online and not QB Desktop. I've certainly tried to find an answer. Thank you so much.
No, you can't change the type of transaction from a transfer to anything else. The same is true in almost all cases in QB Desktop - for all types of transactions.
If you recorded the accounting event with the wrong type of transaction and you want to fix it, delete the transaction and create a new, correct transaction.
OK. Thanks for your help with this. When I recreated the entry from scratch and indicated that a particular deposit was for an "Equity investment", it automatically changed the entry to a 'transfer' instead of a 'Deposit'. What is the reasoning there?
It will show as a deposit until I change the account to an equity account type and then it immediately changes the 'type' to 'Transfer'. It is not possible to make a split entry at that point.