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nbalance220
Level 1

How do I fix transactions that are listed as income, when they are in fact debits?

All the transactions uploaded from the last 6 months are incorrectly listed as income.

1 Comment 1
FateCandylaneT
QuickBooks Team

How do I fix transactions that are listed as income, when they are in fact debits?

Keeping your entries accurate ensures your account is up to date, nbalance220. You can manually exclude the incorrect entries and categorize them to the correct account. Let me help you organize them.

 

Beforehand, may I know what financial institution is integrated with QuickBooks? Are these transactions downloaded from your bank? Any additional details would be much appreciated.

 

If these entries are from your bank, QuickBooks Online is dependent on the information shared from them and the downloaded transactions may come as income instead of debits.

 

If not, you can manually exclude the incorrect entry and upload the transactions from your bank to the program. Doing so won't allow transactions to appear again in your bank feeds.

 

To guide you with the process, here's how to exclude your transactions:

 

  1. In your QBO account, navigate to Transactions and click Bank Transactions.
  2. Choose the affected bank account.
  3. From the For Review tab, tick the transactions downloaded to the incorrect account.
  4. Then, click Exclude.
  5. If categorized, go to the Categorize tab. Undo the entry. Then, Exclude.

 

 

Once done, import your transactions to the correct account. Then, manually categorize them to the right account.

 

  1. Go to Transactions, then Bank Transactions.
  2. Choose the account you want to review and select the For Review tab.
  3. Then, categorize your entries from there.

 

 

Additionally, if you need help managing your chart of accounts, you can partner with QuickBooks Live Expert Assisted and feel more confident in managing your overall financial data.

 

Moreover, you can start reconciling your accounts to ensure they always match your bank and credit card statements.

 

With the information above, you'll able to manage your banking entries and ensure your account is accurate. If there are any additional queries, ping a reply on this forum so we can provide further assistance. 

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