When reconciling a Credit Card, is there a way to change the categorization of a transaction from Payments to Charges? A few of mine charges are labeled as Payments

Anonymous · ‎January 26, 2019

Everything was fine for about 6 months of reconciling, up until one month where a bunch of charges were labeled as payments

FritzF · ‎January 27, 2019

Hello there, @Anonymous.

Thanks for posting here in the Community. I'm here to share some information about changing the category of a transaction from Payments to Charges in QuickBooks Online (QBO).

Just to clarify, are you using Bank Feeds to download transactions from your statement into QuickBooks? When these items are imported, they appear in the For Review tab to be classified to their applicable income and expense accounts.

Since QBO suggests a category based on the bank description, it's possible this is what caused the issue when you added the transactions. You can change them by following these steps:

1. Go to Banking menu at the left panel, then click the In QuickBooks tab.
2. Scroll down until you see the transaction, then select Undo to bring it back into For Review.
3. Now, go to the For Review tab and pick the transaction and change it with the desired expense account.
4. Click Add.

For your reference, you can also check out this article for more information: Assign, categorize, edit, and add your downloaded banking transaction. Once done, you can now proceed to the reconciliation.

That's it! Please let me know how it goes or if you're referring to something in the comment section. I'd be glad to answer should you have any follow-up questions to concern. Cheers!

View solution in original post

FritzF · ‎January 27, 2019

Hello there, @Anonymous.

Thanks for posting here in the Community. I'm here to share some information about changing the category of a transaction from Payments to Charges in QuickBooks Online (QBO).

Just to clarify, are you using Bank Feeds to download transactions from your statement into QuickBooks? When these items are imported, they appear in the For Review tab to be classified to their applicable income and expense accounts.

Since QBO suggests a category based on the bank description, it's possible this is what caused the issue when you added the transactions. You can change them by following these steps:

1. Go to Banking menu at the left panel, then click the In QuickBooks tab.
2. Scroll down until you see the transaction, then select Undo to bring it back into For Review.
3. Now, go to the For Review tab and pick the transaction and change it with the desired expense account.
4. Click Add.

For your reference, you can also check out this article for more information: Assign, categorize, edit, and add your downloaded banking transaction. Once done, you can now proceed to the reconciliation.

That's it! Please let me know how it goes or if you're referring to something in the comment section. I'd be glad to answer should you have any follow-up questions to concern. Cheers!

Anonymous · ‎January 28, 2019

Hi there,

This worked! Thanks for your help! For some reason when I manually imported the transactions, the csv formatted the charge transactions as ($x) rather than -$x, but it is fixed now

Thanks,

Ezra

FritzF · ‎January 28, 2019

You're most welcome, @Anonymous.

I'm glad to know that those steps helped you resolve this issue.

Also, thanks for being a part of our QuickBooks family. Please don't hesitate to post again should you have any other concerns. I'm always here to help. Take care always!

adel059 · ‎January 28, 2022

Hello! Can you help advise another online user with this same issue but a different view? I do not have the banking tab so am not able to follow these steps.

Mark_R · ‎January 28, 2022

I've got you covered, @adel059.

You may be in a Business view that's why you don't have a Banking menu. You can click the Transactions menu instead to proceed with the steps. Here's how:

In your QuickBooks Online (QBO), click Transactions from the left menu, then select Banking.
Go to the Categorized tab.
Look for the transactions and click Undo.
Go back to the For review tab and categorize the transactions correctly.
Click Add.

I'm adding this article for more guidance: Categorize and match online bank transactions in QuickBooks Online.

Once everything is categorized correctly, you can now proceed with reconciling accounts. This helps make sure your QuickBooks transactions match your bank and credit card statements.

Should you need any assistance categorizing bank transactions, I'm available here to help any time, @adel059.

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When reconciling a Credit Card, is there a way to change the categorization of a transaction from Payments to Charges? A few of mine charges are labeled as Payments