I noticed that when the banking information is transfer into QBO, in some occasions instead of the transaction been reflected as a credit it shows as a debit
Can you be a little more specific?
This is possibly when you run your Bank Sync on your Checking Acct? And the bank is showing a Withdrawal when you think it should be a Deposit?
Good day, Easy Checks.
Allow me to share information about why Banking entries are interchanged when running the updates. Pete_MC is correct, there is a possibility that this has something to do with how your Bank syncs in QuickBooks Online (QBO).
QuickBooks depends on what your bank shares with us and how they're posted online. I suggest excluding one of them from the For Review tab.
Once done, you'll want to review your bank's settings or reach out to your financial institution so they can review it for you. Then, you can download the bank transactions again.
After that, you'll want to proceed to categorize the transactions. For additional information, you can click on this article: Categorize and match online bank transactions in QuickBooks Online. This also provides details on how you can review bank and credit card transactions to avoid duplicate entries.
Please check this article to see steps on how you can make any changes in your transactions under the Bank register page: Find, review, and edit transactions in account registers.
To learn more about how QuickBooks Online uses double-entry accounting, you can check out this article: How Accounts are Affected by Debits and Credits.
Additionally, I've included a guide that will help you ensure your account matches with your real-life bank statements: Reconcile Workflow in QuickBooks.
If you have any other follow-up questions managing your bank feeds, let me know by adding a comment below. I'm more than happy to help. Keep safe!
That is what happens sometimes on my Bank feeds. Some transactions that are actually shown in the transaction to be a withdrawal it posts as a credit in the Received column instead of the Spent column in the Bank feed. Since you can't change a deposit transaction to an expense transaction, all I have been able to do is manually enter and clear the transaction. Then exclude the transaction to get it out of the bank feed. Are there any other solutions available?
You may want to check the statement from your bank, LCreech.
That way, you'll be able to determine if entries are correctly downloaded to QuickBooks.
In QuickBooks Online (QBO), the level of detail we're able to retrieve depends on how your bank posts your transactions. That's why you have to review and categorize them once downloaded to QuickBooks.
You may want to check this with your bank and if transactions are posted correctly, I recommend contacting our QuickBooks Live Team. This way, they'll be able to create a case to monitor the issue.
If you want QuickBooks to categorize your transactions automatically, you can create a bank rule. Here's an article as a guide: Set up bank rules to categorize onli....
Keep me posted if there's anything else you need by commenting below. I'll be right here to help manage your bank transactions.