In Banking what is the difference between a Transfer and Add under Action? and how to reconcile a Banking transaction and the same transaction under Credit Card account?

@paul-gupta 

“Add” means you have not created the transaction in QuickBooks Online. “Add” is to basically record the new transaction to the register in QuickBooks.

“Transfer” means you make a transfer from one bank account to another bank account (or credit card account). It’s not for entering an income or expense account to the transaction.

In case the bank is downloading, Transfer type transaction to the Add section, you can switch the radio button to Record Transfer, that way you can see bank or credit card account. For example, let us say, you made a $100 credit card payment from your checking account. On your banking tab for your checking account, you record transfer to credit card account. On the Credit Card account (if it's also bank connected), you will see MATCH for that transaction. Just click Match and done. That's all.

For more details, you can refer to this helpful article.

Hope this helps!

Welcome to the Community, @paul-gupta.

Let me provide some information about the Transfer and Add button from the Banking page. And help you reconcile your Credit Card account.

The Transfer button means that you have the option to transfer the transaction to a different bank or credit card account. For example, if you want to record the transactions to a different account, you can select the appropriate bank account from the drop-down, then click Record transfer. I've attached a screenshot below for your visual reference.

While the Add button means adding your bank transactions to QuickBooks and this will go to your bank register. This way, you'll be able to reconcile your bank transactions.

Here's how to reconcile a credit card account:

1. Firstly, review your opening balance.
2. Start your reconciliation by going to the Gear icon, then select Reconcile under Tools.
3. If this is the first time you're reconciling, click Get Started.
4. Select the appropriate account from the Account drop-down.
5. Enter the Ending balance and Ending date of the statement.
6. Click Start reconciling once you're ready.

Here's an article you can read on for more details: Reconcile an Account in QuickBooks Online.

You might also want to check out these articles to learn more about downloaded banking transactions and reconciling:

• Assign, Categorize, Edit, and Add your Downloaded Banking Transactions.
• What is Reconciling?

Just hit the Reply button if you have additional questions about bank feed. The Community team and I are always here to help.

If something was recorded as a transfer but should have been recorded as "add" income, how can I change that in Quickbooks.  I'm not sure if I should void the transfer and if it will remain in the register for me to then add it, or if the void loses the transaction entirely.  

I have already reconciled this transaction too, I'm not sure if that matters in this situation.

Thank you.