I appreciate the screenshot you've provided, jkope26. Allow me to step in and share some insights about changing transaction types in QuickBooks Online (QBO).
As referenced by my peer above, the system is dependent on the information and description shared by your financial institution. Thus, changing the transaction type isn’t possible in QuickBooks Online.
You can only categorize them to the correct income and expense account. I'd suggest coordinating with your bank and check how they send the downloaded transactions.
In the meantime, as a way around, you’ll want to manually download your bank statements and edit the transaction type. Then, upload it to your QBO account. I’d be glad to show you how.
- Log in to your bank or credit card website and download the transactions from there.
- Ensure the file size and format are supported (maximum file size is 350 KB).
- Comma-Separated Values (CSV)
- QuickBooks Online (QBO)
- Quicken (QFX)
- Before uploading it to your QBO account, ensure you’ve already made changes to the transactions such as the transactions type.
- Then to upload the transactions, go to the Baking or Transactions menu.
- Select the Banking tab.
- Locate the select the appropriate bank and click File upload from the Update drop-down menu.
For more details about this process, you can check this article for your reference: Manually upload transactions into QuickBooks Online. On the same link, you'll find a write-up on how to use banking rules as well as reconciling your account.
Kindly update me on how things go by adding another comment below. I want to make sure you're all set, and I'm here if you have any follow-up questions in mind or need further guidance. Have a great day! All the best.
