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wyeconsulting-gm
Level 1

How do I correct a transaction that is showing as an expense but should be income

i have incoming commission that is showing up as an expense. how do i reverse it
Solved
Best answer January 20, 2022

Best Answers
LeizylM
QuickBooks Team

How do I correct a transaction that is showing as an expense but should be income

Thank you for posting here on the Community page, wyeconsulting-gm. 

 

I'm here to help you correct the transaction in QuickBooks Online.

 

You can reclassify this transaction if it's still in the For Review tab. This way, your financial records are accurate in QBO. I'll guide you on how. 

  1. Go to Banking from the left menu.
  2. Select the For Review tab. 
  3. Locate and open the transaction. 
  4. Choose the appropriate income account from the Category drop-down. 
  5. Click Add

If the transaction is already in the Reviewed tab, you'll have to undo it. The system will move it back to the For Review tab so you can categorize it to the correct income account. 

 

Once done, I recommend reconciling your account. It helps ensure your account in QBO matches your bank statement. Visit this page for more information: Reconcile An Account

 

Don't hesitate to tag me here if you have any additional questions or concerns about managing your transactions in QuickBooks Online. I want to make sure that this will get resolved. Keep safe.

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2 Comments 2
LeizylM
QuickBooks Team

How do I correct a transaction that is showing as an expense but should be income

Thank you for posting here on the Community page, wyeconsulting-gm. 

 

I'm here to help you correct the transaction in QuickBooks Online.

 

You can reclassify this transaction if it's still in the For Review tab. This way, your financial records are accurate in QBO. I'll guide you on how. 

  1. Go to Banking from the left menu.
  2. Select the For Review tab. 
  3. Locate and open the transaction. 
  4. Choose the appropriate income account from the Category drop-down. 
  5. Click Add

If the transaction is already in the Reviewed tab, you'll have to undo it. The system will move it back to the For Review tab so you can categorize it to the correct income account. 

 

Once done, I recommend reconciling your account. It helps ensure your account in QBO matches your bank statement. Visit this page for more information: Reconcile An Account

 

Don't hesitate to tag me here if you have any additional questions or concerns about managing your transactions in QuickBooks Online. I want to make sure that this will get resolved. Keep safe.

wyeconsulting-gm
Level 1

How do I correct a transaction that is showing as an expense but should be income

Thank you

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