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BevCapeCod
Level 2

Transfer from Bank Acct to AmEx shows up as deposit

I made an online transfer from my bank account to AmEx and its showing up in QB as a deposit to my bank account instead of a withdrawal.  If I look at my AmEx account online, it shows up as a payment.  I can't seem to fix it in QB so not only is it not showing the money coming out of my bank account, it's showing $2000 extra, so a $4000 error.

 

Solved
Best answer February 03, 2021

Best Answers
LieraMarie_A
QuickBooks Team

Transfer from Bank Acct to AmEx shows up as deposit

Thanks for reaching out, @BevCapeCod.
 

Did you add or match these transactions from your bank feeds? I'd suggest checking your bank account if your bank declined your transfer at the first attempt. You may have added the reversal transaction instead of the correct one. 


As a workaround, you can exclude this transaction from your bank feeds. Then, find and add the correct entry. To reverse the deposit added or matched from the bank feeds, you can undo them from the Categorized tab. I'll guide you how.

 

  1. Go to Banking.
  2. Select the blue tile for the account you want to review.
  3. Select the Categorized tab.
  4. Find the transaction you want to remove.
  5. Select Undo from the Action column. 

The screenshot below shows you the last three steps.
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Once done, the transaction will go back to the For Review tab. From there, you can select the transaction and click the Exclude button to remove it from the list.

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Then, locate and add the correct withdrawal transaction. However, if you're unable to find it in the bank feeds, I'd suggest excluding both transactions from your bank and AmEx account. Then, create a transfer in QuickBooks manually.

  1. Click the +New button.
  2. Select Transfer.
  3. Fill in the necessary information.
  4. Select Save and close.


For more information about transferring funds, here's a great resource that you can visit:

 

Get back to me here if you have further questions. I'd be more than happy to answer it for you. Have a nice day. 

View solution in original post

2 Comments
LieraMarie_A
QuickBooks Team

Transfer from Bank Acct to AmEx shows up as deposit

Thanks for reaching out, @BevCapeCod.
 

Did you add or match these transactions from your bank feeds? I'd suggest checking your bank account if your bank declined your transfer at the first attempt. You may have added the reversal transaction instead of the correct one. 


As a workaround, you can exclude this transaction from your bank feeds. Then, find and add the correct entry. To reverse the deposit added or matched from the bank feeds, you can undo them from the Categorized tab. I'll guide you how.

 

  1. Go to Banking.
  2. Select the blue tile for the account you want to review.
  3. Select the Categorized tab.
  4. Find the transaction you want to remove.
  5. Select Undo from the Action column. 

The screenshot below shows you the last three steps.
undefined
 

Once done, the transaction will go back to the For Review tab. From there, you can select the transaction and click the Exclude button to remove it from the list.

undefined

 

Then, locate and add the correct withdrawal transaction. However, if you're unable to find it in the bank feeds, I'd suggest excluding both transactions from your bank and AmEx account. Then, create a transfer in QuickBooks manually.

  1. Click the +New button.
  2. Select Transfer.
  3. Fill in the necessary information.
  4. Select Save and close.


For more information about transferring funds, here's a great resource that you can visit:

 

Get back to me here if you have further questions. I'd be more than happy to answer it for you. Have a nice day. 

View solution in original post

BevCapeCod
Level 2

Transfer from Bank Acct to AmEx shows up as deposit

I will follow your directions and manually fix it, but I'm still confused as to why a transfer from the bank account to the AmEx account would automatically show up as a deposit in the bank account.  Both accounts are linked to QB Online.  When QB went with automated features it was supposed to make things simpler.  

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