Banking Imports are in Checks verses Expenses, does it matter? Need Guidance Please

NikkiNik1 · ‎January 24, 2023

Hello All. Hoping I can get some feedback here. I'm currently using QuickBooks Online Essentials which is relatively new for me - seeing how you can enter transactions either with a "Check" or as an "Expense". I saw some articles that said to stick with "Check" if you're actually cutting checks or recording checks and ACH's, and to stick with "Expense" if you're recording credit card or debit card transactions. Presently when I sync banking to my online QuickBooks all the debit card transactions import in as "Checks", not "Expenses". My question is, does is really truly matter if I'm using the Check vs. Expense to enter these charges? Is there a way to change debit card transaction imports so they come in as "Expense" transactions or no need? Any negatives or positives for either? I'm used to using QuickBooks Desktop, so I just use the "Check" feature there. I just want to be consistent. Thank you in advance for reading this message.

Giovann_G · ‎January 24, 2023

It's nice to have you here in the Community space, Nikki.

The transactions that will be downloaded into QuickBooks if you use bank feeds depend on the information given by your financial institution. It can either show up as Check or Expenses. In response to your question, It doesn't matter since both payments are money out transaction.

You're correct. You can use Expense to manually record credit card or debit card transaction. Then, create Check if you need to print your checks. Make sure to match the recorded transaction to the bank feeds to avoid duplicates.

Additionally, you can exclude the downloaded transaction if you think they are duplicate. Check out this article for your guide: Exclude a bank transaction you downloaded into QuickBooks Online.

Let me know if you have follow-up questions regarding bank feeds. We're available to help you 24/7.