How can I change a entry from a deposit to a transfer?

Hi there, @dturlich59.

I hope you have a great day. I'm happy to address your concern about converting a deposit into a bank transfer.

To correct this, you have to delete the deposit manually. Then, record it as a bank transfer. It only takes a few steps.

Here's how to delete the deposit:

1. Head to the Accounting menu and then Chart of Accounts.
2. Find the account and select View register from the Actions column.
3. Locate the deposit and click it to expand the view.
4. Select the Edit button.
   
   
5. From the footer, click More and then Delete.
   
   
6. Hit Yes to confirm. 

Then, record the transfer by following these steps:

1. Click on the + New button and then Transfer.
2. From the Transfer Funds From dropdown, select the bank account that the money is coming from.
3. From the Transfer Funds To dropdown list, choose the bank account that the money is going to.
4. In the Transfer Amount field, enter the amount.
5. Edit the Date field.
6. Enter a description of the transfer in the Memo field.
7. Select Save and close.

Additionally, if you have imported transactions in your banking feed for both accounts, record the transfer from one account. Then, match it from the other account. For the detailed steps, refer to this article: Transfer Funds Between Accounts.

Keep me updated on how these steps turn out and let me know if you have any other concerns by commenting below. I'm just a post away. Stay safe!

Hi @dturlich59, 

Hope you’re doing great. I wanted to see how everything is going about correcting the deposit into a transfer. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.

Looking forward to your reply. Have a pleasant day ahead!

How would I do the opposite? My CC processor started to pop up as a "Transfer" in my QB last year. But that was not correct and should be labeled as a Sales of Product Income. 

Thank you for visiting the QuickBooks Community, bethringdc.I'll walk you through the steps to ensure your transaction in QuickBooks Online is labeled as Sales of Product Income or assigned to the correct category.

If the transfer transaction you're referring to appears in your bank register, you have to delete the said entry. Then, you can follow the steps shared above on how to perform the process.

Once done, go to the Bank deposit page and manually record the deleted transfer and make sure to account for the entry as Sales of Product Income. 

Here's how:

1. Select + New and choose Bank Deposit.
2. From the Account dropdown, choose the account you want to put the money into.
3. Go to the Add funds to this deposit section and choose a particular name under the Received from column.
4. Select a specific or Sales of Product Income account and fill in the other necessary field.
5. Click Save and close.

However, if the transfer has already been categorized, I recommend going to the Categorized tab and clicking the Undo link to return the mentioned entry to the For review tab. Please take the following steps:

1. Go to Bookkeeping and Transactions, then select Bank transactions.
2. Select the tile for the account.
3. Go to the Categorized section.
4. Choose the Undo link under the Action column.

After that, go to the For review section and locate the transfer and categorize it under Sales of Product Income. Then, click Add or Split button. I've added a screenshot for visual reference.

Lastly, you may refer to this article to see steps on how you can reconcile your accounts to avoid discrepancies: Reconcile an account in QuickBooks Online.

Don't hesitate to add a comment below if you have other concerns about your entries in QBO. I'm always around to help, bethringdc. Have a good one!