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Best answer April 09, 2021
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The way your financial institutions communicate with QuickBooks Self-Employed (QBSE) impacts the data you receive, @carrados. Let me provide further details about this.
When you connect your accounts to online banking, the QBSE system automatically downloads your latest transactions. You're occasionally seeing duplicate transactions since each bank connects differently and may use crossed wires.
You're able to prevent duplicate transactions by double-checking your bank statement and your online connection in QuickBooks. To do this, you'll first have to sign in to your bank's website and pull up the statement for the period you see the duplicate. Once you see the transaction on your statement twice, your data is downloaded correctly.
Next, you'll have to make sure your account is only connected to QBSE once. When it's connected twice, you need to hide one of them to stop the system from downloading duplicate transactions. Here's how to do it on a web browser:
- Go to the Gear icon.
- Select Bank accounts.
- Make sure your bank account is connected once.
- If there's a duplicate, select the toggle to OFF in the Show Account column (Please see the screenshot below for your reference).
After that, you'll have to remove all your duplicate transactions downloaded from your bank. This way, you can keep your account updated. I'd recommend checking out this article for the step-by-step guide: Exclude or delete transactions in QuickBooks Self-Employed.
Also, each time you put transactions into QBSE, you need to categorize them. This will let the system place them on the correct line of your Schedule C form. You can refer to this article for the complete details: Categorize transactions in QuickBooks Self-Employed.
Let me know if you have other banking concerns or inquiries about managing your self-employed transactions in QBSE. I'm just around to help. Take care always.
The way your financial institutions communicate with QuickBooks Self-Employed (QBSE) impacts the data you receive, @carrados. Let me provide further details about this.
When you connect your accounts to online banking, the QBSE system automatically downloads your latest transactions. You're occasionally seeing duplicate transactions since each bank connects differently and may use crossed wires.
You're able to prevent duplicate transactions by double-checking your bank statement and your online connection in QuickBooks. To do this, you'll first have to sign in to your bank's website and pull up the statement for the period you see the duplicate. Once you see the transaction on your statement twice, your data is downloaded correctly.
Next, you'll have to make sure your account is only connected to QBSE once. When it's connected twice, you need to hide one of them to stop the system from downloading duplicate transactions. Here's how to do it on a web browser:
- Go to the Gear icon.
- Select Bank accounts.
- Make sure your bank account is connected once.
- If there's a duplicate, select the toggle to OFF in the Show Account column (Please see the screenshot below for your reference).
After that, you'll have to remove all your duplicate transactions downloaded from your bank. This way, you can keep your account updated. I'd recommend checking out this article for the step-by-step guide: Exclude or delete transactions in QuickBooks Self-Employed.
Also, each time you put transactions into QBSE, you need to categorize them. This will let the system place them on the correct line of your Schedule C form. You can refer to this article for the complete details: Categorize transactions in QuickBooks Self-Employed.
Let me know if you have other banking concerns or inquiries about managing your self-employed transactions in QBSE. I'm just around to help. Take care always.
