No compelling reason to. An expense from one bank account to another affects both exactly the same.
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!
I have the same question - have you received any response to your post? I'd love some assistance with this...thank you!
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.