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Yes, you can change the transaction type, depending on where it's located in QuickBooks Online (QBO), usercfo.
The program depends on what your financial institution shared with us. That may be the reason why the credit card transactions is being posted as an credit, not an expense.
You can reclassify the credit card transaction if it's still in the For Review tab. This way, your financial records are accurate in QBO. I'll guide you how.
If the transaction is already in the Reviewed tab, you'll have to undo it. The system will move it back to the For Review tab so you can categorize it to the correct income account.
Once done, I recommend reconciling your account monthly. It lets you detect any differences early. It also helps ensure your account in QBO matches your bank statement. For more information, visit this article: Reconcile An Account.
I'm just a post away if you need further assistance or have any more questions with QuickBooks. Have a good one.
Hello,
I am currently going through that exact situation. Our credit expenses are showing as credits. We had to upload our files because the bank and QB were not communicating. We reviewed all the transactions before realizing what happened. We also inactivated the account so now we cannot locate the charges in the banking screen. How can we retrieve and correct the transactions?
Thanks for joining the thread, @jesmal85. Allow me to share some details about your concern.
One way to record a credit card payment is to transfer the amount from your bank account's feed to the credit card account in question.
Here are the steps on how to transfer the payment:
Alternatively, you can transfer the payment with the Record as transfer option:
Once you're done with the transfer of the transaction, you need to match it with the new account.
For additional information, see this link: Debit vs. Credit.
Loop me in if you have other concerns, I'd be glad to assist you. Take care!
this message did not help at all I need to change the enters from credit card credits to expenses I was hoping that I could do them all at once since somehow they were posted incorrectly
Thanks for joining us here. Allow me to offer my help with your concerns about Online Banking, sweetm769.
At the moment, we're unable to change a transaction's type from a credit card credit to an expense. You'll want to use the Exclude function to remove them from Online Banking. It's usually done for duplicate, personal, or incorrectly downloaded transactions. Then, manually record them in QBO to make sure they're included in your financial reports.
Here's how:
Feel free to check out this article for additional details about this: Exclude a Bank Transaction You Downloaded into QuickBooks Online.
After excluding all credits, manually record them as expenses by following these steps:
Please visit us again in this thread and let me know if you're able to record the banking transactions correctly. The Community is always here if you need more help from us.
This happened to me too. My workaround is to download the credit card charges to an Excel worksheet (comma separated) from my bank's website. Then I fix the Excel worksheet by putting a minus sign in front of every amount that is a charge (expense). I then upload the Excel worksheet to my credit card account in Quickbooks online. I also had to go through and delete all of the credit card credit entries that were uploaded originally when quickbooks connected to my credit card online. Such a nuisance! Quickbooks really needs to figure out how to fix this. (By the way, I spent an hour on the phone with QBO support, and got nowhere and did several searches and watched several videos before I figured out the workaround on my own.) I would love to hear about any easier solution that someone comes up with.
Thank you for being a customer providing the best answer. I found myself having to do the same thing. Add negative signs manually and delete all the transactions in quickbooks and uploading them again. It is the biggest headache.
I had the same problem. Adding the negatives didn't make a difference until I went back and made sure my Wells Fargo transaction download was "saved as" a CSV-UTF 8 (Comma Delimited) format... Then it uploaded correctly!
this is the exact same problem that i have. When i tried to manually download credit card transaction to csv file and upload to quickbooks, it counts as plus instead of minus. and it completely destroys all the transactions.
Thanks for joining the Community and getting involved with this thread, sugamo.
When you download CSV files of transactions from your financial institution, the data provided in them is coming from your bank. If debit transactions are for some reason listed as credits, I'd recommend getting in touch with them to identify why they're listed that way.
It's also recommended that you check the file's formatting prior to uploading it into your books. CSV files can be uploaded with 3-column or 4-column formatting.
These are the only columns QuickBooks can handle, and they have to be put together in the following order:
If you see an error message while uploading a CSV file, you may need to fine tune your formatting:
I've also included a detailed resource about formatting CSV files which may come in handy moving forward: Format CSV files in Excel to get transactions into your books
Please don't hesitate to send a reply if there's any questions. Have an awesome day!
Not a working solution. Only QB can make something that should be two clicks into a complicated series of actions.
This is the dumbest thing that they have changed since forcing everyone online. on the desktop it was a simple drop down menu. I do not want to link my bank accounts with Quickbooks. I want to manually enter them. So how can I change the 100 or so transactions I accidentally entered as CC payment??? So ridiculous.
Same question - I incorrectly categorized payroll expenses as a credit card transaction. It doesn't appear you can change that transaction type. All of them have been reconciled as well.
Let me provide insights about correcting your transaction type after reconciliation, @jscali.
If you're referring to transactions from the banking page, we can undo those, and a prompt message will display indicating that the transaction is reconciled. Then, you can click Continue or Yes to proceed with the modification.
After completing this action, we can go to the For Review tab to select the appropriate categories for those transactions. Finally, we manually mark the bank transactions with an "R" on the bank register.
Also, modifying reconciled transactions can cause discrepancies. Thus, I recommend contacting your accountant to ensure an accurate process.
Additionally, visit this article to learn on how to find transactions in your account registers so you can review or make necessary changes: Find, review, and edit transactions in account registers in QuickBooks Online.
Let me know if there's anything else I can help you with managing your sales tax in QuickBooks Online (QBO). Have a good one!
I am using QuickBooks Online. I was reviewing the 2023 transactions (after the credit card was reconciled). I found a few misclassified categories (53 to be exact) where I went from the 2023 Profit/Loss and changed the categories. A week later I received the January credit card statement (the transactions also download from the bank) and began to reconcile the statement. The QBO noticed the starting balance was not in agreement with my statement.
Upon further review I followed the prompts in QBO and reopened each transaction and changed the reconciled status from R to a blank. Then I tested one transaction to see if I could "edit" it from "blank" to "R" and it worked correctly. By that I mean it was bring the opening balance down closer to my statement opening balance. Next, I did another one and it also worked fine. Then I tried 3 transactions and they also worked OK. Next, I tried 5 more edits and they also entered correctly. From there I jumped in with both feet and changed the remaining charges from "blank" to "R".
When I was done, I again tried to restart the January reconciliation and found I was out of balance again. This time I noticed the last transactions I did changed the bank "charges" to "credits".
Now I'm stuck and can't figure out how to correct the credits to debits.
Can you help?
Thanks for joining this thread, RCNaz.
I want to make sure you're able to get your transactions categorized and reconciled in QuickBooks Online.
In this instance since you mentioned the transactions had downloaded from your bank and added to QBO, I recommend "undoing" them first. Once you've done that, you'll be able to re-add them with the correct categorization. Here's how:
1. Hover over the Transactions tab in the left navigation menu and click Bank Transactions.
2. On the Transactions page, select the Categorized tab.
3. Check the boxes for the transactions in question and click Undo.
4. The transactions are then moved back to the For Review tab. Here you'll be able to make any necessary edits and then re-add them to the register.
Here's a visual of how this will look in your account:
The following article provides additional details about categorizing online bank transactions in QuickBooks Online.
With this info you'll be able to correctly categorize your transactions to make reconciling your accounts easier. Please feel free to reach back out if you have any other questions. I'll be here to lend a hand.
Quickbooks desktop can change the type from credit card credit to expense but not in QBO..For now, the delete the expenses erroneously recorded as credit card credits and record again using expense function.
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