credit expenses accidentally entered as deposit
Imported into QB online and the expenses show up as a deposit! How do I correct?
Thanks for visiting the Community space, NoNestor.
I'd like to help you correct the transactions.
When you say imported into QuickBooks Online, do you mean that the transactions are added in the Banking page? If so, transactions may have been incorrectly mapped. This is why your expenses are showing up as deposits.
What we can do is remove those deposits by excluding them.
Here's a sample screenshot for a visual reference:
After excluding these transactions, you can delete them in the Excluded section.
Then, review the file from your bank. If you have the 3 column format, make sure that the amount for these expenses are entered as negative. Here's a sample screenshot for a visual reference:
After editing the file, import the transactions again by going to Transactions > Banking > Upload from file.
To learn more about the formats and manually importing your bank transactions, please check out these articles:
Once you have the correct transactions, you start categorizing and matching them.
Please let me know if you have any additional questions or other concerns. I'll be around to help you out again. Take care and stay safe.
Thanks for getting back and for sharing an update with us, Nestor.
There's a great chance those transactions were already accepted. Rest assured I got the steps on how to exclude them and fix this issue.
You'll want to go to the Categorize tab in your Banking page and undo those transactions. This way, they'll be visible in the For review tab and you can exclude them from there. I'll show you how.
You can also check this link for the complete details: Exclude a bank transaction you downloaded into QuickBooks Online.
Furthermore, I also recommend working with your accountant to ensure your account is well accounted for. When everything looks good, you might want to read these resources for references. These contain details on how to seamlessly match your transactions and reconcile your accounts:
I'm always here ready to back you up whenever you need help with your bank transactions. Please feel free to tag me in your reply and I'll get back to you as soon as I can. Stay safe and have a great weekend ahead!
Thank you. That was helpful. Was able to exclude the transactions. In the original reply it mentioned deleting after excluding. After hunting around I did not see how to do that. Possible to send a screenshot on how to do that?
I'm glad you were able to exclude your transactions, NoNestor.
In order to delete the ones you've excluded, you can check out the Excluded tab, select the transactions you want to delete, and click the Delete button. I made sure to include a screenshot for you.
When you re-upload your transactions, you’ll want to be sure you map the columns correctly to avoid interchanging the amounts. If the deposit and the payment columns are separated in the file, just tell QuickBooks which column name is for Money Received and for Money Spent.
Here's a screenshot of an actual mapping of columns:
After uploading, you can proceed to categorizing and matching your transactions. I can see that my colleague, JasroV, has shared an article about this, which has an embedded video tutorial for your visual reference. Feel free to check it out.
Let me know if there's anything more that I can help you with your bank transactions. I'll be happy to lend a hand.