Modifying the Chart of Accounts does not flow to Banking Rules

You will have to go to preferences then banking then company preferences and uncheck all the boxes.  You will have to set up new banking rules.

Wow!!  What happened to the good 'ol logic of QB where when anything changed, it flowed throughout every transaction or memorized transactions, and almost anything that one could think of.  This is terrible as they have hundreds of rules!  This guy is not going to be happy at all about this...Me being with QB since circa 1990, can't say this is one of the better things I've seen...

But I thank you for giving me your insight.  At least you helped me to see that I wasn't delusional @:>@@

Wish I had better news.  I don't like bank feeds.  Have a very large client with thousands of transactions every month.  Bank statement is 70-80 pages each month.  Something got screwed up last month and all of his payroll transactions defaulted to a subcontractor that gets a direct deposit.  He has always coded the subcontractor direct deposits to direct labor expense, but in December, every payroll transaction downloaded with the subcontractor's name.  What a mess.  Cleared out his preferences, but he manually changed 1800 payroll transactions in December.

For some idiotic reason, the world all of a sudden thinks they can change 600 years of accounting with software.  Too many forget software is a tool to help us do a job, not do it for us.  Sure, automation is good but not if it is done blindly.  It's great when clients think all they need to do is push buttons and all will be happy with their world.  Heck, it keeps us busy and I guess I shouldn't complain.  Perhaps Inuit had this mission to keep bookkeepers and accountants busy in this service based society we now all struggle to survive in.  I mean for me, it no longer matters as I'm retired and just try to help.  It just tears at me when I see the basics being tossed aside when people think reconciliation is merely looking at you bank online to see what today's balance is.  I even had one client arguing with me that the checks they write aren't real until they hit the bank!!!  I mean - WTH!!!???  That client (former client) deleted 3 months of reconciliations that took me weeks to do as there were thousands of transactions.  The owner's "wife" who has no bookkeeping experience insisted I screwed up the register by tens of thousands of dollars.  She insisted it's a waste of time to enter information unless it clears the bank - WOW!!!! It simply eludes me how people who think like this actually survive in business.  Then again, their business model wasn't exactly up to "par". I should have known something was off when they told me they were suing their former CFO who "stole" millions of dollars.  I finally figured out why they think this. 

Anyway, when the world starts to remember that simple bookkeeping is the foundation to great financials, perhaps there won't be so many idiotic shortcuts in programs to assimilate efficiency...

Intuit developed QBO for business owners on the run.  However, they took away all the good things that made them great and I feel they now need to go through another 20 years of learning curves.

Thanks for sharing.  Glad it's not just me...

Glad to have a comrade.  I HATE QBO! Desktop is a superior product, but it a matter of time before it goes away.  I also hate the business owner that thinks his wife is qualified to keep the company books.  Had a doctor that asked me to reconcile his books in October.  His wife was keeping the books.  Brought me a back-up and there were no transactions in the current year.  She had done nothing.  I spent a week reconstructing the books based on the bank statements.  Told the doctor that nothing had been done and recommended he get a real bookkeeper.  Got a 20 minute voice mail from the wife screaming at me that she had done nothing wrong and her grandmother died the year before and she was still grieving.  86'd that account.

We definitely need a Community Board in this place to share these stories.  I just wonder how many of us have the "wife" experience - and not in a good way - LMAO.  The husband of this business who actually is the "only" owner and on this - his third wife (what does that say?), asked if we could just all get along and have a hybrid of cash and accrual based accounting.  I said "OF COURSE YOU CAN - THAT'S WHAT QB IS ALL ABOUT!!"  "HOWEVER, CASH BASED ACCOUNTING DOESN'T MEAN YOU BOOK THINGS ONLY WHEN IT CLEARS THE BANK!!"".  Yup - I cleared out as fast as I could and lost 2 weeks of pay on that gig.  I told then to rip up that last invoice as I wanted nothing to do with them anymore nor give them any reason to keep coming at me with stupid stuff.  If I told you how hoarse my throat was from yelling on the phone all day.  My wife thought I was going to stroke out!!  And I only yelled because he was screaming at me.  My wife heard the whole conversation as I had it on speakerphone.  She couldn't believe what she was hearing and was glad I let them go.  No matter how good the money was, it simply wasn't worth the heart attacks, nor the chance they would come at me later on suing me for their stupidity.  They have millions at their disposal.  Sorry to say, I'm not that well situated in cash to be able to fight them.  So off to clients who love to literally throw "cash" at me and hand me a brand new laptop and a big box of ant and bug infested receipts.  I'll take yelling at insects any day - LOL...