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sharon17
Level 1

How to change a uncategorized asset that was entered as a journal entry to t an expense account?

 
4 Comments 4
HoneyLynn_G
QuickBooks Team

How to change a uncategorized asset that was entered as a journal entry to t an expense account?

Good day, @sharon17.

 

Thank you for posting here in the Community space. I can help you change an uncategorized asset to an expense account.

 

All you have to do is look for the Journal Entry and edit the transaction:

  1. Click the Search (Magnifying glass) icon.
  2. Look for the Journal Entry and click to open.
  3. Update the transaction.
  4. Click Save.

That should do it, sharon17. Keep me posted if there's anything else I can do for you. Just add a comment below. Wishing you all the best!

LW13
Level 1

How to change a uncategorized asset that was entered as a journal entry to t an expense account?

So when I click on the search, my screen looks a little different than yours. It comes up recent transactions but does not say journal entry. I see the entry I want; transfer date and amount, I click on it, where it says transfer funds to, I need to find expense but it only allows for assets, banks and cc accounts. This transaction should have been an expense not an categorized asset in A/R

Rejeil_O
QuickBooks Team

How to change a uncategorized asset that was entered as a journal entry to t an expense account?

Hi there, @LW13.

 

Thank you for joining here in the thread. The transactions that show on your search icon is a bank transfer transactions, where it allows you to transfer funds between bank account to another bank or credit card account that's why you can't change it to expense account. If you don't want that transaction exists in your QuickBooks Online account, you can delete it and enter it as expense transactions.

 

Let me walk you through the steps on how to enter expense transactions. Here's how:

 

  1. Go to the +New button.
  2. Select the Expense tab.
  3. Choose the vendors name in the Payee field.
  4. Pick the payment account in the dropdown arrow.
  5. Filter the date range, then select the payment method.
  6. From the Category dropdown arrow, select the expense account.
  7. Fill up the necessary fields.
  8. Click Save and Close.

 

To learn more about creating expense transactions, you can read this article: Enter, edit, or delete expenses in QuickBooks Online.

 

In case you'll need help pulling up an expense report, you can visit this website to search for a related post about your concern: QuickBooks Online Help Article.

 

Please let me know if you have any other questions or concerns about QuickBooks Online. I'll be happier to help. Take care and have a good day!

vpcontroller
Level 11

How to change a uncategorized asset that was entered as a journal entry to t an expense account?

 

@sharon17 

"How to change a uncategorized asset that was entered as a journal entry to t an expense account?"

 

Couple of ways to handle this. One easy way is to run the Balance Sheet report and click the Uncategorized Asset account. Also, change the Report period if needed.

Once you're on the Transaction report, you will see Journal Entry under Transaction Type.

Once you open the Journal Entry form, you can re-categorize the account you need.

 

Note: normally this account should have no transactions or zero balance.

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