Hello there, blatchford. I'm here to provide some help regarding this matter.
In QuickBooks Online, connecting your bank account will automatically download your transaction up until the recent transaction. Given that you already have a transaction in your company file in QuickBooks Desktop, it will likely create a duplication of transactions. To resolve this, you can Exclude the transactions that were reconciled first. If there are transactions that aren't reconciled, you can match them. Kindly follow the steps below:
If the transactions were reconciled:
- Go to the Transactions menu and choose Bank Transactions.
- Choose the affected bank in the bank in question.
- In the Categorized tab, click the Undo button.
- Find the transaction that you undo in the For Review tab.
- Tick the box beside with the Date of your transaction, and choose Exclude.
- After excluding, you can view the transaction in the Excluded tab.
If the transactions weren't reconciled:
- Go to the Transactions menu and choose Bank Transactions.
- Choose the affected bank in the bank in question.
- Under the For Review tab, see if certain transactions indicate that they contain Suggested matches.
- Make sure that the amount will be the same by clicking the link next to each match.
- If you're certain that it's the same, select Match.
Also, please know that closing your books will not stop downloading old transactions since this is not how bank feeds work in QBO.
In addition, regarding if you'll delete and start over, this will depend on the situation. If you see that it cannot be fixed anymore, you may consider restarting your company file again to QBO. However, please know that this will overwrite the current QBO data.
I'll leave these materials for you to see if you'd want to learn more about connecting your bank and credit card accounts to QuickBooks Online:
Afterward, you can reconcile an account in QuickBooks Online to balance your accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.
If you have further questions, please leave a comment below and I'll be glad to help you out.
