wrong sign on credit card fee - bank feed shows credit not debit. Any ideas on how I can fix this?

I understand the issue you are describing, amar-shah. When you link a credit card to Online Banking, the transactions from the credit card are recorded with reverse polarity compared to standard bank transactions.

Expenses incurred using the credit card will raise the balance and therefore appear as Debits. Conversely, payments made towards the credit card will be displayed as Credits and will reduce the balance.

There's no need to adjust the downloaded transactions as they function according to design. Instead, we can examine the setup of your credit card in your Chart of Accounts. Here’s how to go about it:

1. On the left menu, click Transactions.
2. Select Chart of Accounts.
3. Look for the credit card we want to review.
4. Make sure the ACCOUNT TYPE and the DETAIL TYPE are set to Credit Card.

With this understanding of how Online Banking functions and how transactions are downloaded, we should now be able to accurately categorize the transactions from there on.

Are you interested in enhancing your QuickBooks experience? I'm thrilled to inform you that you can connect with our QuickBooks Live Expert Assisted team. They are dedicated to helping you manage your transactions and maintain the data integrity of your account. Allow us to support you on your path to financial success.

If necessary, we can also import credit card or bank transactions into QuickBooks Online using a CSV file. For more information, please visit the following link: Manually upload transactions into QuickBooks Online.

We are always available to provide further assistance should you need help managing your credit card transactions.

Thanks - My issue is not quite the same as you describe - its only the annual fee transaction that is posted as a credit rather than a debit. All the other transactions are being ingested correctly

thanks

Thanks for the clarification, Amar. I understand how concerning it can be when the annual fee appears as a credit instead of a debit. Let me provide more information and guidance to help you resolve this issue accurately.

Since only the annual fee transaction is showing as a credit instead of a debit in your bank feed while other transactions are correct, this likely points to a specific issue with how that fee is imported or categorized.

Please note that if your bank sends the annual fee as a credit through the bank feed, QuickBooks (QB) will reflect it that way since it relies entirely on the data provided by your bank.

To resolve this issue and keep your records accurate, exclude the incorrect annual fee transaction from the bank feed.

Here's how to do it:

1. Navigate to the Transactions menu.
2. Then, click Bank transactions.
3. Under the For Review tab, locate the annual fee transaction.
   
4. Select the check box for the specific transaction and click Exclude.

After excluding the incorrect transaction, manually upload the annual fee as an expense to ensure it appears as a correct debit amount. When doing so, please make sure to enter the amount in the appropriate column the third or fourth column so QuickBooks records it properly as a debit.

Additionally, I'll provide this article for guidance in ensuring your transaction management is secure and financial records accurately reflect your business activities: Categorize online bank transactions in QuickBooks Online.

If you have any further questions about managing credit card transactions or handling bank feed issues in the program, Amar. Please don’t hesitate to ask. The QB Community and support resources are here to help you keep your accounts accurate and up to date.