How do I re-apply a bank rule to transactions that have already been categorized (not yet reconciled)?

usershir · ‎August 29, 2020

For context, I am currently using the "Class" field to distinguish between "Personal" and "Business" transactions. I have created a rule that splits transactions with a particular vendor to 70% business and 30% personal. However, I need the option of changing the split percentage to transactions that have already been categorized and confirmed. Ideally I would want the option of also re-applying the rule to transactions that have already been reconciled as well. Is this possible? Or perhaps there is a better way to achieve the business vs. personal split? Thanks!

MaryLandT · ‎August 30, 2020

I can clear things out for you about the entries under the Categorized tab, usershir.

After you match or add, downloaded transactions are recorded to your accounts in QuickBooks.

The record reviewed from your bank goes to the Categorized tab. This tab will allow you to perform a quick review after you've matched transactions.

You can sort the description by clicking the small arrow beside Description. It will list down the name in ascending or descending order. See the attached screenshot below for your visual guide.

If you need to change the category, you'll need to select Undo. It sends the transaction back to the For Review tab.

You can also export this list to Excel so you have a copy of the statement you've recently added to QuickBooks. Simply click the Export to Excel icon to download the file.

Learn more about your banking tab through this link: Categorize and match online bank transactions in QuickBooks Online.

Let me know if there's anything else you need by commenting below. I'm always around to help.

View solution in original post

JenoP · ‎August 29, 2020

Hi there, usershir.

New bank rules will only be applied to the transactions that are not yet categorized, specifically the ones in the For Review tab. Since the transactions are already categorized, you will need to manually open each transaction and recategorized them one at a time.

This goes the same for reconciled transactions. You will need to unreconcile them for now. Then, change the categories before doing the reconciling the account afterward.

Here's an article about bank rules for additional details: Setup bank rules to categorize online banking transactions in QuickBooks Online.

Let me know if you have other questions.

usershir · ‎August 30, 2020

Thanks for the quick reply JenoP! I'm sorry to hear that there is no workaround to have bank rules applied to transactions that are categorized, or even reconciled, and that the only way to achieve this is to manually open each transaction and recategorize them one at a time.

Followup question - In the Transactions section, in the "For review" view, there is a way to filter based on description or check number. However, in the "Categorized" view, there is only an option to filter by dates and/or by transactions with rules. Is there a way to filter based on description within the "Categorized" view of the "Transactions" section of Quickbooks?

MaryLandT · ‎August 30, 2020

I can clear things out for you about the entries under the Categorized tab, usershir.

After you match or add, downloaded transactions are recorded to your accounts in QuickBooks.

The record reviewed from your bank goes to the Categorized tab. This tab will allow you to perform a quick review after you've matched transactions.

You can sort the description by clicking the small arrow beside Description. It will list down the name in ascending or descending order. See the attached screenshot below for your visual guide.

If you need to change the category, you'll need to select Undo. It sends the transaction back to the For Review tab.

You can also export this list to Excel so you have a copy of the statement you've recently added to QuickBooks. Simply click the Export to Excel icon to download the file.

Learn more about your banking tab through this link: Categorize and match online bank transactions in QuickBooks Online.

Let me know if there's anything else you need by commenting below. I'm always around to help.

View solution in original post

usershir · ‎August 31, 2020

Thanks MaryLandT! Your workaround method definitely helps! I still think a filter option would be ideal in that view, but being able to sort by Description allows for an easier way to select the desired transactions. I also use the SHIFT key to select multiple transactions at once. Thanks!

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How do I re-apply a bank rule to transactions that have already been categorized (not yet reconciled)?