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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

Everything was fine for about 6 months of reconciling, up until one month where a bunch of charges were labeled as payments
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Best answer 01-27-2019

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Moderator

Re: When reconciling a Credit Card, is there a way to change the categorization of a transaction ...

Hello there, @ezra1.

 

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!

3 Comments
Moderator

Re: When reconciling a Credit Card, is there a way to change the categorization of a transaction ...

Hello there, @ezra1.

 

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!

Not applicable

Re: When reconciling a Credit Card, is there a way to change the categorization of a transaction ...

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

Moderator

Re: When reconciling a Credit Card, is there a way to change the categorization of a transaction ...

You're most welcome, @ezra1.

 

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!

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