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mwarby96
Level 1

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

 
9 Comments 9
JessT
QuickBooks Team

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Yes, there is a setting to stop categorizing your transactions as Insurance, mwarby96. I'm happy to show you how.

 

QuickBooks remembers the categories you chose in the past and applies them to your future transactions. Example: If you categorized a transaction with the word "Insurance" in the description as Insurance, all future entries with that word will be pre-categorized as Insurance.

 

What you'll want to do is change the category of one transaction without saving it yet. Then, you'll see a message that says, We’ll set [keyword] to Insurance from now on. Edit this settingClick on Edit this setting and choose to create a rule, or leave future entries as un-categorized.

 

 

Have a great time while using the online banking feature. If you need help to change other settings, please let me know.

mwarby96
Level 1

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Thanks for the information.  Once I do this will the bank feed go back to make future suggestions for me based on the information downloaded from the bank?

FritzF
Moderator

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Thanks for getting back to us, @mwarby96.

 

After following the steps shared by my colleague, QuickBooks Online (QBO) won't make any suggestions because the system will pre-categorized the future entries with the word that you've used. In case you want to change it, just do the same steps outlined by JessT above.

 

Just in case, I'll be adding this article for future reference: Assign, categorize, edit, and add your downloaded banking transactions.

 

Please know that I'm only a few clicks away if you have any other concerns or issues. I want to make sure everything is taken care of for you. Have a wonderful day!

mwarby96
Level 1

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

So is there a way to delete that "word" so that it doesn't associate future transactions with that word?  Basically what is happening now is every check that clears the account and is downloaded shows the category as Insurance:  Worker's Compensation and does not give any other bank details so I am having to go through her stack of invoices and find which invoice was paid with that check number.  

11/13/2019
CHECK 2006

Insurance:Workers compensation
$375.00

Add

11/13/2019
CHECK 2019

Insurance:Workers compensation
$375.00

Add

11/13/2019
CHECK 2026

Insurance:Workers compensation
$173.00

KhimG
QuickBooks Team

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

I appreciate you posting again in the Community, @mwarby96.


Deleting the word to avoid associating it with future transactions is currently unavailable. I recommend creating a separate bank rule that’ll override the auto-categorization of entries to Insurance. 


Follow these steps to edit the rule for your downloaded transactions:

  1. From the Banking screen, select the Rules tab.
  2. Look for that rule that categorizes all transactions with the word Insurance, then click Edit.
  3. In the Rule window, change the condition.
  4. Go to the How do you want to apply this rule? section and change it if necessary.
  5. Hit Save

Bank 1.PNG Bank 2.PNG

Here’s an article to serve as your guide: How to set and use banking rules for downloaded transactions.


Please let me know if you have any other concerns by leaving a comment. I’m more than happy to help. Take care!
 

mwarby96
Level 1

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Thanks for getting back to me Khim G.  That the weird thing.   I have reviewed every Rule in the Rules Tab and none of them mention the word Insurance.  Is there somewhere else I should be looking?

Catherine_B
QuickBooks Team

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

We can choose to leave the transaction as uncategorized, mwarby96. 

 

When you select this option it won't affect future downloaded transactions. These steps were given to my colleague above and let me provide it again: 

  1. In the Banking page, let's categorize one transaction that was categorized into Insurance. 
  2. Toggle it to a different category and choose the correct one again to re-trigger.
  3. Click the Edit this setting link. 
  4. Select the Leave Uncategorized
  5. Click Save

After making the settings, let's add or match the transactions

 

Keep me posted if you need anything else with handling your bank transactions. 

mwarby96
Level 1

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Thanks for responding Catherine.  I do not think I am explaining this correctly for you guys to give me an accurate answer.  What I am trying to say is every time a CHECK is downloaded from the bank, QBO always categorizes it as "Insurance:  Worker's Compensation".  I want it to suggest what it really is.  For example, Check 1000 was written to Florida Power & Light.  It should be suggesting "Utilities:  Electricity" since it was written to FPL.  I looked in the Rules tab and I do not see anything related to categorizing all CHECKS as "Insurance: Worker's Compensation".  When it downloads debit card transactions or ACH transactions it suggests a category it thinks it is not "Insurance: Worker's Compensation" so this issue is only related to CHECK transactions.  Is there some where else I should be looking for this rule besides in the Banking Rules Tab?

 

JenoP
QuickBooks Team

Our bank feed in QBO categorizes every downloaded entry as "Insurance" but that is not correct. Is there a setting I need to change so that it doesn't do this?

Thanks for sharing additional details, mwarby96.

 

Aside from the Banking Rules tab, there's no other settings that would automatically assign categories to banking transactions. 

 

For us to pinpoint they're automatically categorized as Insurance: Worker's Compensation, we need to review a couple more settings in your online banking.

 

Please contact our phone support team for us to do that. They'll be asking for more additional information and offer screen sharing with you for them to investigate this further. 

 

Follow these steps on how to reach out to them: 

 

  1. Click the Help menu in the upper-right hand corner of QBO. 
  2. Click Contact Us.
  3. Inform them know that your downloaded checks are automatically categorized as insurance , then click Let's talk.
  4. Select Get a callback and enter your contact details. 

Don't hesitate to visit us again if you have other questions or require more help with QuickBooks. 

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