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Beezdeposits670
Level 2

Transactions

I recently upgraded to online quickbooks and when I classified a transaction, I accidently classified it as a transfer instead of income. How do I edit the transaction to reflect it is income? I only have the basic online plan and I am waiting to hear how to correct this mistake before I reconcile the month end report. Thank you!

1 Comment 1
Rubielyn_J
QuickBooks Team

Transactions

Hi there, @Beezdeposits670.

 

I see the importance of ensuring accurate records, especially before reconciling month-end reports. I'm here to assist you in correcting this mistake and guiding you through the process.

 

We can simply proceed to the Chart of Accounts. From there, let's edit the transactions to reflect it as income. 

 

  1. Open QuickBooks and proceed to the Chart of Accounts. 
  2. Find and select the transaction in the account register to expand the view.
  3. Make changes to the available fields.
  4. If you want to change something in the grayed-out sections, select Edit. This opens the full transaction form where you can make additional changes.
  5. When you're ready, click Save or Save and close.

 

If this transaction originates from your bank feeds, we can utilize the Undo option and create again the transaction accordingly. For more details, you can check out this resource: Unmatch downloaded bank transactions or move them to another account.

 

Once done, you can reconcile your accounts in QuickBooks to make sure the amounts match your real-life bank and credit card statements.

 

Don't hesitate to tag my name if you have further concerns about handling your transactions in QBO. I'm here to support you every step of the way.

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