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A payment is being recorded as spent when it is suppose to be recorded as received. How do I fix this?

 
3 Comments
QuickBooks Team

Re: A payment is being recorded as spent when it is suppose to be recorded as received. How do I ...

Hi there, @Questions3.

 

It's my pleasure to help handle/record the payment correctly.

 

If it is an invoice payment, you must locate the payment/transaction you've created as spent and delete it. Once done, record the payment by creating a Receive Payment and Deposit the amount.

 

To receive the payment:

 

  1. Go to the Plus (+) icon.
  2. Select Receive Payment under Customers.
  3. Fill in the correct and necessary information.
  4. Click Save and close.

To deposit the payment:

 

  1. Go to the Plus (+) icon.
  2. Select Bank Deposit.
  3. Deposit the payment.

You can read these articles to learn more about receive payments and deposits:

 

Please know that I'll be right here to help you if you have any other QuickBooks or payment concerns, just add a post/comment below. Have a great day ahead!

Not applicable

Re: A payment is being recorded as spent when it is suppose to be recorded as received. How do I ...

Sorry if I was not more clear. These are for bank transactions downloaded by QBO. It download as spent instead of receive incorrectly.

QuickBooks Team

Re: A payment is being recorded as spent when it is suppose to be recorded as received. How do I ...

Thank you for clearing out your concern, @Questions3.

 

I'd love to help you upload and map your transactions manually to correct them.

 

Since these transactions are downloaded by QuickBooks, you'll need to exclude them first to avoid duplication when uploading them through Web Connect.

 

Here's how you can exclude them:

  1. On the left panel, click on Banking.
  2. Select the transactions downloaded by QuickBooks.
  3. Under the Batch Actions drop-down, choose Exclude Selected.

Next, you need to download your transactions from your bank's website. Before you download them, you need to take note of the accepted accepted file types in QuickBooks. These are:

  • CSV - Comma-Separated Values
  • QFX - Quicken
  • QBO - QuickBooks Online
  • OFX - Microsoft Money

Here's how you can download your transactions from the bank:

  1. Sign in to your bank's website.
  2. Follow your bank's process in downloading transactions.
  3. Choose the transactions you want to download.
  4. Choose the supported file type for the download file.
  5. Note the name and location of your downloaded file.

Lastly, you can upload your downloaded transactions via Web Connect. You may follow these steps:

  1. On the left panel, click on Banking.
  2. Under the Update drop-down, select File Upload.
  3. Click on Browse to select the file from your bank, then select Next.
  4. Under the QuickBooks Account drop-down list, select the bank or credit card account. Then select Next.
  5. Map the statement fields according to your CSV file format and select Next.
  6. Follow through the steps and select Let's go! when the import is complete.

Once done, your downloaded transactions will then appear under the For Review tab on the Banking page.

 

You may refer to these articles for more information:

Feel free to let me know if you have other questions about your bank transactions. I'll be sure to get back to you.

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