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Imported Transactions Showing up in Uncategorized Asset - Need to classify!

I recently upgraded from Quickbooks Self-Employed to Quickbooks Simple Start. Unfortunately the two do not play nicely with each other. I had to export the transactions from Self-Employed and upload to Simple Start. When they imported all the transactions were put in "Uncategorized Asset." Now I'm trying to go through each one and put it in the proper category, when trying to change a transaction to an expense account I get the error message "This account is set up as a liability account. To accept this transaction, either disconnect the account or change its category type to bank or credit card." I tried setting up a temporary "Credit Card" account so I could transfer all the transactions there and then in to the proper expense account. No dice, same error message came up.

 

Short of re-entering all of these transactions manually is there anything I can do?

 

Thank you!

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QuickBooks Team

Imported Transactions Showing up in Uncategorized Asset - Need to classify!

Hi @Robertson_holdings,

 

Let's get these transactions sorted out and get you back to working order.

 

Since you already tried creating a credit card account and it didn't work, we have to delete the credit card and exclude all transactions.

 

First, let's exclude and delete all your imported transactions.

 

Here's how:


1. On the left panel, click on Banking.
2.  In the For Review tab, tick the box to select all imported transactions.
3. Under the Batch Actions drop-down, click Exclude Selected.
4. In the Excluded tab, tick the box to select all excluded transactions.

 

After doing so, delete the created credit card and recreate it.

 

This time, you have to import it to the newly created credit card:


1. On the left panel, click on Banking.
2. Choose the recreated credit card.
3. Choose File Upload from the drop-down beside Add Account.
4. Click on Browse.
5. Open the exported file.
6. Click on Next to continue, and choose Credit Card from the Account drop-down.
7. Click on Next.
8. Verify the transaction details, and select Import.
9. Select Yes on the pop-up.
10. Click on Let's Go to view your imported transactions.

 

Feel free to read these articles on uploading transactions: 

Lastly, I encourage seeking help from your accountant. This way, they can offer you some advice on correct accounts to use.

 

If you have other concerns, feel free to comment below. The QuickBooks Community team is always here to help.

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