How to fix the overstated expenses in quickbooks online?

Hello there, @Peanut. 

Thanks for visiting the Community today. I appreciate you for sharing the detailed information on your concern. I'm here to help you fix the issue to ensure your books are correct. 

First off, make sure to get a printed copy of your bank statement. Then, run reports to your Bank register and compare the transactions.

Here's how :

1. Go to the Accounting menu, then open your Chart of Accounts.
2. Locate your bank account and select View register.
3. Look for the transaction on the list and compare it.

From there, you can track the transactions and check for duplicates. To remove duplicates from your QuickBooks register, you can undo the accepted transactions and exclude them. Here's how:

1. Go to the Banking menu, then choose In QuickBooks tab.
2. Select Undo for each transaction you want to exclude.
3. Return to the Banking page, then select the transactions you need to exclude.
4. Click on the Batch actions.
5. Select Exclude Selected.

You'll also need to match and categorize those unlinked transactions again to avoid duplicates. Read through this article for more detailed steps: Match and categorize your bank transactions in QuickBooks Online.

Please don't hesitate to post again here if you have additional questions, @Peanut. I'm always around to help. 

Thank you for your reply, but I was wondering if when I removed the double transactions it will affect the payroll taxes? We had a big penalty from the IRS because payroll taxes were understated. According to QBO experts the reason why it was because when the another person transfer the data from QuickBooks Desktop to QBO did not transfer the historical data. So I just want to make sure that when I removed the payroll payments will not affect the payroll taxes. 

Hello there, peanut. Thanks for getting back to us.

I appreciate you for considering the information shared by my colleague above. Deleting payroll payments affects payroll taxes. I see how important to keep your transactions organized and accurate from the time you've migrated from QuickBooks Desktop to QuickBooks Online.

You can check these articles for additional details about tax payment:

• Requirements for deleting a tax payment.
• Recording prior tax payments. 
• Manage sales tax payments in QuickBooks Online. 

Let me know if you have other questions. I'll be here to help in any way that I can. Stay safe and healthy!