Inventory duplicating when categorizing transactions and adding inventory

Hi, @XL_Velo.

I appreciate you for sharing the details of your concern. I'm here to help you with categorizing your transactions and inventory entries in QuickBooks Online.

Categorizing your transactions from the Banking page allows you to select an account from the Category section, and not an item. Adding an item will double or increase the amount since the system treats the item and expense as a separate entry. To correct this, enter a separate entry of the item manually, then match it to the downloaded transaction. I'll guide you how.

1. Go to the +New icon, then select the transaction you want to record.
2. Enter the information, then click on Save and Close.

Once done, match the transaction to the downloaded purchase from the Banking page. 

1. Locate the transaction under For Review.
2. Tap on Find match, then select the manually recorded entry. In most cases, the system will automatically detect the matched transaction.
3. Hit Confirm.

For more tips about handling your banking transactions, you can open this link: Categorize and match online bank transactions in QuickBooks Online.

Once everything is corrected, you can proceed with reconciling your accounts to keep your balances correct. Here's an article you can open for more information: Reconcile an account in QuickBooks Online.

If you have any other banking questions, please let me know by adding a comment below. I'm more than happy to help. Have a good one!

Thank you. I followed these steps, but it still seems to have doubled the inventory. When I run a report on the inventory item, it shows the bill that I created, but also shows my Inventory Starting Value as an entry (this is a new item), bringing the total to two (see attached). 

Thanks for getting back to us, XL_Velo. Let me help you sort this out.

I appreciate the screenshots you've provided. To ensure your inventory items are not duplicating when categorizing, as an initial step, let's delete the bill to avoid causing a duplicate transaction.

Here's how:

1. Open the bill.
2. Click More at the bottom.
3. Hit Delete.
   

Once deleted, locate the categorized transaction by going to the Categorized tab on the Banking page. Open the expense and ensure to remove the Item line details or the quantity and amount, then hit save.

To help you with editing, assigning, and categorizing your transactions, check out this article: Categorize and match online bank transactions in QuickBooks Online. You can also match them to the existing entries in the software. Just go to the For Review tab from the Banking menu. Doing so will help you ensure the accuracy of your financial records.

Let me know how it goes, I want to make sure you're no longer seeing duplicate inventories on your QuickBooks Online. I'll be around to help you out. Have a good one.

Intuit, please add a way to assign to inventory directly from the downloaded expense. It would be great if the downloaded expense screen exactly mirrored the screen reached from "new expense" 

Hi, Kurt. Thanks for joining the thread.

I understand the need for the ability to assign inventory directly from the downloaded expense, however, QuickBooks Online (QBO) does not currently support this feature. Although it's not possible, it is worth noting that if you match an existing expense in QuickBooks that already has an inventory, it will be displayed accordingly. 

Moreover, we'd love to hear your ideas regarding this option so I recommend sending feedback to our product developers. This way, they can further review which parts of the program need enhancements and consider adding them to future updates. Please refer to the steps below:

1. Go to the Gear icon and click Feedback.
2. Provide your feedback or product suggestions.
3. Click Next to submit.

You can also visit our Customer Feedback page to get updates about the status of your feedback.

I've added this article to learn how to review downloaded bank and credit card transactions and put them in the right accounts: Categorize online bank transactions in QuickBooks Online.

Please don't hesitate to leave a reply below if you have further concerns about using the product. We'll be right here to help you.