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christianpetty
Level 1

How do you correct imported bank deposits that show as negative amounts (expenses)?

This could be a bank issue, but a transaction in both a checking and savings continues to import as a negative amount, even though they are clearly deposits.
Solved
Best answer December 04, 2021

Best Answers
KlentB
Moderator

How do you correct imported bank deposits that show as negative amounts (expenses)?

I'll help fix this, christianpetty.

 

Please know that your financial institution controls what and how information is received by QuickBooks Online. To isolate the issue, you can try signing in to your bank's website and then follow their instructions to download your bank transactions. These are our supported file types:

 

  • QuickBooks Online format (QBO)
  • Comma-separated values (CSV)
  • Quicken file (QFX)

Once the file is ready, you'll have to upload it to check if the amount and value of the transactions are correct. Here's how:

 

  1. In QuickBooks Online, go to the Banking menu or Transactions menu.
  2. Select the Banking tab, then choose the blue tile for the account you want to upload the transactions into.
  3. Click the Link account drop-down menu, then select Upload from file.
  4. Hit Browse and then select the file you downloaded from your bank.
  5. Click Next, select a bank account.
  6. Follow the onscreen steps to match the columns on the file with the correct fields in QuickBooks.
  7. Select the transactions you would like to import.
  8. Click Next, then Yes.
  9. When you're ready, select Let's go.

However, if the deposits are still showing as negative, I'd recommend reaching out to your bank's customer support. This way, they'll be able to check your account and investigate the issue.

 

In addition, here are some resources that you can read to help manage your online banking transactions and reconcile your bank account:

 

Drop me a comment below if you have any other concerns or further questions. The Community always has your back.

View solution in original post

2 Comments 2
KlentB
Moderator

How do you correct imported bank deposits that show as negative amounts (expenses)?

I'll help fix this, christianpetty.

 

Please know that your financial institution controls what and how information is received by QuickBooks Online. To isolate the issue, you can try signing in to your bank's website and then follow their instructions to download your bank transactions. These are our supported file types:

 

  • QuickBooks Online format (QBO)
  • Comma-separated values (CSV)
  • Quicken file (QFX)

Once the file is ready, you'll have to upload it to check if the amount and value of the transactions are correct. Here's how:

 

  1. In QuickBooks Online, go to the Banking menu or Transactions menu.
  2. Select the Banking tab, then choose the blue tile for the account you want to upload the transactions into.
  3. Click the Link account drop-down menu, then select Upload from file.
  4. Hit Browse and then select the file you downloaded from your bank.
  5. Click Next, select a bank account.
  6. Follow the onscreen steps to match the columns on the file with the correct fields in QuickBooks.
  7. Select the transactions you would like to import.
  8. Click Next, then Yes.
  9. When you're ready, select Let's go.

However, if the deposits are still showing as negative, I'd recommend reaching out to your bank's customer support. This way, they'll be able to check your account and investigate the issue.

 

In addition, here are some resources that you can read to help manage your online banking transactions and reconcile your bank account:

 

Drop me a comment below if you have any other concerns or further questions. The Community always has your back.

christianpetty
Level 1

How do you correct imported bank deposits that show as negative amounts (expenses)?

Hi and thank you for the help. I see that my bank is only correctly showing transaction signs when exported as a CSV. Quicken and Quickbooks exports show the issue. I've reached out to them as it seems to be on their end since direct imports are showing the same issue.

 

Thanks!

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