Change a default category/account for imported credit card transactions

Welcome to the Community space, @angela94.

Before anything else, we'd like to take this opportunity to thank you for allowing us to assist with your query. We aim to provide concise information that the customer needs to help them address their concerns on time.

Reading your post, know that if you've set bank rules, but they didn't apply to your current transactions, you can recategorize those transactions for now, and then moving forward, the system can easily take note of the changes and apply the rules to your future transactions inside QuickBooks Online (QBO). We'll gladly write down the steps to get you going:

1. Access your QuickBooks Online company.
2. On the left navigational bar, go to the Transactions tab and select Chart of accounts.
3. Locate the account, and then click View register.
4. Select the transaction, and then click the Edit button.
5. Modify the needed information.
6. Once done, click the Save and close button.

In addition, here are some articles to help you manage bank transactions, reconcile an account, and keep your data accurate inside the program:

• Run reports in QuickBooks Online.
• Customize reports in QuickBooks Online.
• Categorize online bank transactions in QuickBooks Online.
• Reconcile an account in QuickBooks Online.

@angela94, you can always get back to us anytime. Feel free to post here if you have any additional QuickBooks-related queries. Rest assured. We've got your back. Take care, and have a good day! 

Hi! Thanks for the speedy reply!!

I've been changing the accounts /categories as I go. However, as soon as Capital One syncs with QB, it auto-assigns a default category account if there is no rules in place. What do I need to do for the system to choose a different default category? Thanks!

Angela

I understand the importance of changing the category of your bank transactions, Angela.

QuickBooks Online is dependent on the data shared by your financial institution. We're unable to set a default category for your bank transactions. We'll have to select the correct category manually when categorizing them.

As a workaround, I recommend using bank rules to assign the correct category. Here's how:

1. Go to the Gear icon and then select Rules.
2. Select New rule.
3. Enter a name in the What do you want to call this rule? field.
4. From the Apply this to transactions that are drop-down menu, select Money in or Money out.
5. From the in drop-down menu, select the credit card account.
6. Set the rule conditions. You can set a single rule with up to 5 conditions. Set and include the following, then select + Add a condition.
7. In the Conditions fields, specify whether the rule applies to Description, Bank text, or Amount. Then select Contains, Doesn't contain, or Is exactly to decide how QuickBooks applies the rules.
8. Select the settings for the rule. Select the Transaction type, Category, Tags, and the Payee to apply.
9. Click Save.

Additionally, I've added an article that'll help you review your accounts in QuickBooks to ensure they match your bank and credit card statements: Reconcile an Account in QuickBooks Online.

Please keep us posted if you need additional assistance in categorizing your bank data. We're always here to help you out.

I'm experiencing this as well. Many of my bank transactions are defaulting to my "Member's Draw" category for transactions that are not triggering a rule. I also just switched from QuickBooks Desktop. This is certainly not being pushed over from the credit card transactions. It should default to not being set in this case.

If the credit card charges are imported and there is no rules in place, the default suggestion here is the "categorized expenses" and then use rules alert to define these transactions with no account homes. Thanks! Angela

Hi there, @StudlyBrad. 

Thank you for reaching out to the Community.

Upon checking, it's possible that you turned On the enabled suggested categorization in your bank settings. You can uncheck it so you won't get category suggestions.

Here's how:

1. Go to the Transactions, then Bank Transactions.
2. Select the small Gear Icon.
3. Turn off or uncheck the Enable suggested categorization.

I'll add this article when you want to categorize your transactions: Categorize online bank transactions in QuickBooks Online.

If there's anything else that I can help you with, please do not hesitate to reach out.