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Kathy GreenBudBooks
Level 3

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

 
5 Comments 5
MirriamM
Moderator

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

It's good to see you here in the Community forum, Kathy GreenBudBooks.

 

QuickBooks Online (QBO) is a read-only app. The data we receive in QuickBooks depends on the information sent to us by the financial institution.

 

To resolve the issue, you can exclude the transactions showing as deposits on the For Review tab. Since transactions downloaded directly from the bank can't be modified.

 

To exclude, here's how:

  1. Click Banking on the left menu.
  2. Go to the Banking tab.
  3. Select the account.
  4. Go to the For Review tab.
  5. Put a checkmark mark beside the transactions.
  6. Hit the drop-down arrow next to Batch actions.
  7. Pick Exclude Selected.

As for the matching of your bank transactions, you can check out this article for a guide: Categorize and match online bank transactions in QuickBooks Online.

 

Get back to me if you have further questions when managing transactions. I'm always here to help. Have a great day!

Kathy GreenBudBooks
Level 3

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

I guess I didn't make myself clear.  The transaction is in the BoA bank account only once as a payment.  Each time I upload it to QBO, it shows up in the QBO bank registry as a payment and a deposit, although the BoA bank account doesn't have the transaction as a deposit and I only upload the 1 single payment transaction manually to QBO.  I'm trying to reconcile and this single transaction stops the process. I don't know what QBO is reading or where the info is coming from that this should be a deposit.  It isn't coming from the bank statement and isn't from my upload.

ReyJohn_D
Moderator

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

The category selected when adding transactions can affect what shows on your register, @Kathy GreenBudBooks.

 

Let's ensure to choose a different account for your bank deposit such as an income or sales account rather than the bank category itself. This is to prevent any duplicate entries. Here's how to verify it:

 

  1. Go to the Accounting menu, and then select the Chart of Accounts tab.
  2. Look for the bank account associated with the transaction, and then tap View Register.

  3. Click the said transaction, and then hit the Edit button.

  4. Check the category and the bank account used if they're the same. This time, you've got two options. First, you can select a different category or your second option is to delete it.
  5. To delete it, just click More at the bottom, and then click Delete.
  6. Click Yes to confirm or Save and Close if you just changed its category.

If this entry is linked to a downloaded transaction from your bank, it will go back to the For Review tab. From there, you'll have the option to categorize and match them again.

 

Once everything looks good, you can proceed to reconciling your account to make sure your books are accurate. Then, you'll want to view, print or export your reconciliation report to correct some discrepancies or save a copy on hand.

 

Click the Reply button if you have follow-up questions or any QuickBooks concerns. I'll be eyeing out for your reply. Have a nice day.

Kathy GreenBudBooks
Level 3

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

Thank you for your response but it doesn't address my issue.  I'm not trying to put the deposits in any account.  The deposits are not on the bank statement.  Right now, in 1 account I've got 5 transactions that are wonky in QBO.  The payments were not in the QBO Bank account so I uploaded manually.  The upload process seemed to go smoothly and I accepted all 5 transactions.  When I go to reconcile, the uploaded transactions are each now in the QBO Bank account; BUT for each one a deposit in the same amount automatically appeared.  When I delete the deposit transactions, the payment transactions disappear.   If I upload manually again, the whole cycle repeats itself.  This has now happened in all QBO bank accounts.

MaryAnn_E
QuickBooks Team

I'm trying to reconcile a bank acct. Ea time I upload a payment from BoA, it shows up in QBO as a payment and a deposit. How do I only get the 1 payment transaction?

Hello there, @Kathy GreenBudBooks.

 

 

Let’s make sure when you add a transaction from your bank, you shouldn’t use the category from the line item.

 

We can re-categorize the transactions that have been incorrectly categorized from your bank. If they are from the Banking page, we can Undo them and re-categorize, and then add them back to your bank. Here's how:

 

  1. Go to Banking and choose the Banking page.
  2. Select your bank account and click the In QuickBooks tab.
  3. Select the affected transactions and click the Undo button.
  4. Go to the For Review tab and select the transactions that should have the same category. You only want to select the transactions from the same payee.
  5. Click on Batch Actions, and choose Modify Selected.
  6. Choose a Payee and a Category.
  7. Click Apply.

 

 

From there, we can match the deposit to the bank transaction. You can check out this article for more details about matching bank downloaded transactions: Assign, categorize, edit, and add your downloaded banking transactions.

 

Please let me know if you have any other questions about your QuickBooks. I'll be here to help. 

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