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Level 1

Editing a Rule and Applying Changes Retroactively

I have a contract with a vendor. I provide a weekly service and receive a weekly payment. Unfortunately, because the vendor uses PayPal to pay me, there is always a fee. I have set up a rule in QuickBooks that assigns the PayPal transfer for the net amount to be recorded as Sales Income. This means that I have to manually add in the total amount of fees as an Expense at some point before the end of the year. 

 

I have already edited the rule to include a split, with the net proceeds recorded as Income, and the Fee recorded as an Expense. However, after making the edit to this rule, the change was not applied retroactively across all previous transactions. Is there some way to apply edits to banking rules retroactively?

3 Comments
Highlighted
Level 11

Editing a Rule and Applying Changes Retroactively

DUPLICATE

 

@edassoc 

 

Is there some way to apply edits to banking rules retroactively?

 

I don't think so, sorry!

Highlighted
Moderator

Editing a Rule and Applying Changes Retroactively

Thanks for the details, edassoc.

 

The banking rules will apply to the transactions that are on the For Review tab. That said, it will not retroactively apply to the previous one. However, we can undo the previously matched transactions to apply the edited rule.

 

Let me guide you with these details:

 

  1. From the Banking tab, select Banking.
  2. Go to the Reviewed tab.
  3. Select the transactions.
  4. Click the Undo button, and then select Continue to undo the transactions.

 

Once done, the transactions will go back to the For Review tab.

 

You can also add the auto-add feature so that any transactions that meet the conditions will be automatically added. You can check this article for the steps to do it: Consider the auto-add option.

 

I'm just around if you still need help. Stay safe!

Highlighted
Level 1

Editing a Rule and Applying Changes Retroactively

Excellent. Thank you. I  will keep you informed.

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