What is an unauthorized asset?

Hi, gingerbreadquilt.

Uncategorized Asset this usually happens when a payment to an unrecognized account is made in QuickBooks Online. The program has an automatic rule creation feature in the Online Banking section that would automatically tag them as Transfer to Uncategorized Asset.

Aside from that, this also happens when you make a payment from an account that's connected in QBO to something that is not.

Here's an article that helps in handling your banking transaction in QBO: Categorize and match online bank transactions in QuickBooks Online. 

There's also a reference on how to reconcile your accounts after categorizing them: Reconcile an account in QuickBooks Online. 

For more details on handling your accounts, you can check out these links: 

• Manage default and special accounts in your chart of accounts.
• Add an account to your chart of accounts in QuickBooks Online.

If there are any additional questions aside from Uncategorized assets, I'm just a post away. 

No. This did not help.  I went to the video about downloading transactions from the bank and how to categorize them.

The first thing the person said to do is "Go to Transactions...."  I do not have "Transactions" on the menu down the side of my screen.  

 I'm looking at a printed report showing over $8K in uncategorized assets and have no idea what to do about them or how to fix or correct this ever increasing mess that has developed.

I appreciate you getting back to us, @gingerbreadquilt. I’ll clarify some things about the tabs, so you can record and match the transactions properly.

There are two interface of QuickBooks Online. The buttons and tabs has slight differences depending to which one you’re using. It’s possible that you’re using the Accountant view, that’s why you’re unable to see the Transactions tab.

If so, you can navigate to the Banking tab. From there, you’ll see the transactions under the For review tab if you haven’t matched them yet. Otherwise, they’ll be recorded under the Categorized tab.

Additionally, you can switch to the Business view to have the similar interface from the video. After that, let’s go to the Bookkeeping tab and select Transactions. I’ve added some screenshots for your reference:

Here’s an article you can read about each view to understand their differences further: Switch between Business and Accountant view in QuickBooks Online.

Feel free to check out these resources for guidance in reviewing your transactions and reconciling them in QuickBooks:

• Categorize and match online bank transactions
• Reconcile an account

I'm ready to help you out again if you'd like me to clarify other things regarding the categorizing process. If you happen to come across any difficulties while recording your entries, let me know and I'll gladly assist you.