Transaction Ref No./Type Field in Register - Explained

HeatherCarver · ‎March 03, 2019

Can someone run through the different options of the transaction RefNo./Type Field in the register, and give a short explanation what they're for, and when would they be used? I'm trying to manually input some transactions that were not automatically done so with linking my bank account. There's a dropdown box for this field, and I want to know that I'm using the correct option for various transactions. I've seen several places that there are the different options, but no explanation as to when to choose which one.
The options on the drop down box are:
- Check
- Deposit

- Sales Receipt

- Receive Payment

- Bill Payment

- Refund

- Expense

- Transfer

- Journal Entry

Thanks!

MaryGraceS · ‎March 04, 2019

Hi there, @HeatherCarver.

Thank you for posting in the Community. Allow me to help share additional details about recording historical data in QuickBooks Online.

To start, I've provided short descriptions below about the transaction types you see in the drop-down list.

Check- You use regular checks to pay for a fixed asset, inventory and non-inventory part, service, other charges, and any expense you track.
Deposit- You can use this when recording your customer payments. You can either deposit each payment directly into a QuickBooks bank account, or you can group payments together to be moved to that account later.

Sales Receipt- Used for goods/services rendered at the time of a purchase (sometimes referred to as a "point of sale" purchase), or if your customers give you immediate payment.

Receive Payment- If you issue an invoice, you use Receive Payment to record customer payment.

Bill Payment- You use this when you make a payment to a bill which you owed to your vendors.

Refund- Issue a refund check when you need to return an amount to your customer.

Expense- Recording transactions directly paid by either bank or credit card.

Transfer- A transfer you've made between two balance sheet registers

Journal Entry- You can use it when the other transaction types do not apply.

Additionally, the following articles contain more information about recording historical transactions in QuickBooks:

These resources should help to get you back on track and enter data in QuickBooks. Stay in touch if you have any other questions about recording prior transactions in QuickBooks. I'll be happy to help you out. Have a great day ahead.

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IamjuViel · ‎March 04, 2019

Delighted to have you here, @HeatherCarver.

I can share some resources on how you can record your bank transactions in QuickBooks Online.

With QuickBooks Online, you can record different types of business related transactions whether manually or directly downloading it from your connected bank account.

To get to know more about these different types of transactions, you may check out these articles:

Also, you can visit our video tutorials if you’d like to get more familiar with the accounting and bookkeeping features in QuickBooks Online: https://quickbooks.intuit.com/tutorials/.

Always feel free to visit us here in the Community if you have other questions about managing your transactions. I'm always here to help.

HeatherCarver · ‎March 04, 2019

Thank you for the attempt, and providing links to attempt to help, but it's not really giving me the information that I need. Yes, I understand how to record them, but I'm working on filling in information from the last couple of years, which requires me to do it manually. I want to better understand the different options, and when to use them. None of the links you provided went in-depth on that information.

MaryGraceS · ‎March 04, 2019