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Community Contributor *

CC imported transactions as credits instead of expense

Hello community

I am new on QB online, and have a new business. I connected my QB with the bank account and also business CC (two cards). The problem is that the CC transactions come in in the"received" rather than "spent" column, which means that it would be like the CC is owing me money instead of the other way around.  I have contacted online support and they have never seen this before, therefore it's the bank's problem in the way they push the information. Bank is not getting back to me yet, and I am trying to find answers on my own. I'm getting very frustrated... 

Anybody's has seen this before?

Tried to attach picture, but it won't allow me...

Thanks to all who can help!IMG_8457 (2).JPG

3 Comments
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QuickBooks Team

Re: CC imported transactions as credits instead of expense

Hi @christineRL,

 

I know how challenging this is for you. But I'm here to share a couple of things you can consider that'll help you fix the posting of your credit card transactions.

 

First off, your credit card transactions will be downloaded to QuickBooks depending on how you map your accounts from your financial institution. Even if you've already contacted your financial institution, I'd still recommend contacting them so someone can pull up your account, securely and help you fix the mapping of your accounts and specify them correctly.

 

Nevertheless, you can exclude your credit card transactions for now and manually update your banking transactions to verify if they'll be downloaded with the same posting accounts. To do so, here's how you can exclude your credit card transactions:

  1. Go to the Banking page.
  2. Under Bank and Credit Cards, select your credit card account.
  3. Select the For Review tab.
  4. Find and select your credit card transactions.
  5. Click Batch actions.
  6. Choose Exclude Selected.

Once completed, you can now go back and manually update your banking transactions. To add, here's an article you can read to learn more about how you can exclude your banking transactions: Exclude Expenses from Downloaded Bank Transactions.

 

However, if your credit card transactions will still be downloaded with the same posting accounts, you can manually download your banking transactions and upload them. This way, you can map them correctly.

 

Lastly, I'll be also including an article that'll help you handle your future online banking tasks: Match and Categorize your Downloaded Bank Transactions.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'll be always around ready to help.

Community Contributor *

Re: CC imported transactions as credits instead of expense

Thank you,

I fee like this is the issue, "mapping the account", but what exactly does it mean? maybe that's where I can find the solution. I have done everything according to instructions at installation time.

 

ProAdvisor

Re: CC imported transactions as credits instead of expense

@christineRL 

 

You may also want to verify how the account is setup in your Chart of Accounts for the credit card account. (Left Dashboard > Accounting > Chart of Accounts).

 

For Credit Card account:

  Account Type should be Credit Card (not Bank)

  Detail Type should be Credit Card 

 

In case, the account is already setup Credit Card as Account Type and the bank feed is downloading through your bank, you will need to contact your bank. Normally, it happens like you experiencing when you import the CSV file from the Excel to the Banking tab.

 

Hope this helps!

 

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