My transactions are loading as "checks" and they just need to be "expenses". How do I edit this? I also have had credit card payments download as "transfers". This needs to be an editable field.
Hi there, @GClementAZ,
I appreciate the time you've given checking this with us today. I can share some insights about the transactions in QBO.
John-pero is right. There's not much of a difference between an Expense and a Check. Even if this expense was an actual check it may be posted the way your financial institution treat it. At the moment, we're unable to change the transaction type of your downloaded transactions. As a workaround, you can delete the bank transaction and enter or clear the check in QuickBooks manually.
Once added, you can now clear the check from the register. Let me show you how to do that:
Here's how it looks like in QBO:
Additionally, QuickBooks use the Transfer category for transactions where you're making a credit card payment. They're considered "transfers," to exclude them from your calculations for estimated taxes or business expenses. to know more about recording credit card transactions in QBO, please refer to this article: How to record credit card payments
That should do it, @GClementAZ, I'm just a post away if you need further assistance or have any more questions with QuickBooks. Have a good one!
My peer, JanyRoseB, already answered the same concern you've posted about changing the transaction type in QuickBooks.
You can visit this link if you haven't checked it yet: https://quickbooks.intuit.com/learn-support/en-us/banking/re-can-i-change-things-on-a-reconciled-sta....
Let me know if you have any other concerns. I'm always around to help. Have a great day.
Hi VantagePros. There's no way to convert a transaction from one type to another. However, you could delete the transaction and recreate it as a transfer. Here's our article on recording transfer in QuickBooks Online. That will help you set up the new transfer.
Let me know if there are any other questions.
Per the original question, how to change the transaction type from Exp to Transfer as when you log in to your QB each day and the system automatically classify your transaction extracted from bank. Most of the time they are correct, but a few time it is as not what you have in mind when you performed certain bank transaction. His example was the bank classify his bank transaction as Expense. Mine is the other way around, as TRANSFER. And I want to change it from TRANSFER to EXPENSE even before it booked into our Quickbooks.
Thanks for the input though but I think I found a way around it.
Hi VantagePros. In your situation, you could undo the addition to the register and then change the transaction in the for review tab. Here's how:
Let me know if you need anything else. I'll be happy to help.
Nice to have you joining this thread, @RLHallum.
Allow me to share some insights about changing transaction types in QuickBooks Online (QBO). QBO is dependent on the information shared by your bank institution. Thus, changing the transaction type isn’t possible in QBO. You can only categorize the it to the correct income and expense account.
As a way around, you’ll want to manually download your bank transaction and edit the transaction type. Then, upload it to your QBO account. I’d be glad to show you how.
For more details about this process, you can check this article for your reference: Manually upload transactions into QuickBooks Online.
Once done, you can now reconcile your accounts when you’re ready.
Let me know if there’s anything else I can help you with on managing your QBO account. I’ll be around to help you. Have a great day!
Hello there, @m4life2.
An Expense can’t be converted directly into a transfer. Though you can still move amount to another account by editing the expense and change the account it goes to.
Another way you might consider doing is deleting the expense in the register and then record it as a Transfer.
To delete the transaction:
Here’s how to record a bank transfer:
To keep your transaction and accounts, you can check this article: Reconcile an account in QuickBooks Online.
Please let me know if you have other questions. Take care and stay safe, m4life2.
We're having the same problem, but all our checks are suddenly importing as expenses. This is definitely a problem, since the check numbers don't show up in the register for expenses as they do for checks. We have verified with our bank that these are designated "check" on the bank's end, not as "expense" - a pretty clear indication that this is a Quickbooks issue - but QB customer service says the problem is the bank and that they are not able to escalate our ticket (we spent 2.25 hours on the phone with support and have not received a promised call back; the problem remains unaddressed). This obviously needs a long term fix, but in the short term it could be easily worked around if QB would simply add an option to view the "description" field as a column on the register page, since the check numbers are actually recorded in this field. Ridiculously, this field is only viewable on the banking page prior to transactions being "accepted," not on the register page where we need it to be to edit the entries.
QB should have this feature. It would really help new folks like myself. QBO does not import things consistently nor perfectly. Also it you set up rules then change you mind on how to handle a transaction then later change you mind or if QBO changes some default or the bank's download changes (THESE THING HAPPEN A LOT) it would be nice to go back and update the type.
Example, I have a credit card with bank of america along with checking. I want all my payments to show TYPE = TRANSFER, but right now some show as transfer, some show as expense, some show as credit card payment and there are more I think. You get the point. YES, the math is the same but they should all be consistent for clarity. QB should make this easy but deleting and recreating is so time consuming and silly when all they need to do is make a field editable with some logic in the background.
yes the math is the same but it would be nice if, say by accident or automation, credit card payments are showing as transfers, CC payments, expense, etc and you want to make sure they all match for clarity and consistency, saving people time, especially if more than one person is involved in the bookkeeping
I had a similar issue. I have the QBO Simple Start version. My bank file imported my "check" transactions as "expenditures". I had no way of changing the transaction to "Check" with the options given [Categorize, Find Match, Record as Transfer, Record as credit card payment].
So I selected "Create a rule". I set all transactions with the word "Check" to change the transaction type to "Check". I did not set the autoconfirm on so I can verify individually. Perhaps you can also create a rule to help set your transaction type to your desired type. Hope this helped.