QuickBooks Online Tutorial: Categorizing dowloaded transactions (2019)
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- เผยแพร่เมื่อ 15 ก.ค. 2024
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Updated video: QuickBooks Online Tutorial: Categorizing downloaded transactions (2021) • QuickBooks Online Tuto...
To take an in-depth Online Banking & Bank Reconciliations course with me go to:
bit.ly/onlinebankingcourse
Updated April 2021
Topics contained in this QuickBooks Online Tutorial on Categorizing downloaded transactions from banks and credit cards:
00:01:02 - QuickBooks Online banking tab, you will see with which bank account you will work. (all transactions, sales income, expenses, taxes & licenses expenses, uncategorized expenses)
00:04:57 - Categorizing transactions (all transactions)
00:08:26 - Batch actions button (modify selected, accept selected, exclude selected)
00:09:14 - Add all button
00:10:03 - Create a rule (edit this setting button) (create custom rule)
00:10:43 - Rule section and how it works
00:11:08 - Bank rules tab (edit rule)
00:12:17 - Automatically add to my books
00:13:42 - How to create a rule
00:15:14 - How it works exclude selected button in batch actions tab
00:16:35 - How to create a rule with transaction conditions (100$+)
00:18:49 - Go to reports and check your profit and loss to see the benefits (all starts to add up)
Other Free Videos:
Mastering Add / Match / Transfer:
• QuickBooks Online 2018...
In-Depth Bank Feeds Tutorial:
• QuickBooks Online: Dow...
Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting (rates vary from $195 to $545) for first consultation depending on length and consultant required. E-mail Hector your questions hector@garciacpa.com - วิทยาศาสตร์และเทคโนโลยี
I've been looking for this explanation for YEARS!!!! Thank You.
Hector you deserve every bit of ad revenue that you generate on TH-cam. You do a great job and are very thorough. Keep the content coming! $$
Thanks
Thank you Hector, you explained this really clearly and it has definitely helped me understand how to work in QuickBooks.
Thank you Hector. This tutorial was very informative and I definitely learned a lot. Looking forward to viewing your other links that you notated.
You have no idea how helpful this was. AMAZING stuff
thanks
This is gold. Thank you so much! You make our lives so much easier.
Your videos are AWESOME!!!! I have been learning so much from them. Great job!!!
Wow Waaaaaaay more helpful than official quickbooks vids! thank you and thank god youre here.
Thanks ;)
I'm learning to be a virtual bookkeeper and this is such a helpful video! Thank you for the wonderful tutorial Hector =)
From the Philippines! Thanks Hector looking forward for more videos. I've learned a lot on QB by watching your tutorial. God bless and more power.
Josan Gloria thank you.
Loved that tutorial! Learned a few things! Thanks!
Awesome
Thank you! You explained this beautifully
best quickbooks video on youtube, thanks a bunch Hector!
Laser Media thanks
As another CPA you know your stuff and explain very well! Gave you a thumbs up!
Thanks
Hector, you're a legend.
Thanks for the videos! All have been very helpful!
You welcoem
Another great video. Thank you!
God Bless You, Brother... Maybe the best presenter on TH-cam.
Amen, thanks!
Thanks! Awesome video!
Thank You very much! You helped me a lot.
Thank you, Hector!
you welcome
Thanks for your help Hector.
NoirXplorer you welcome
Thanks for your help. Now I really understood how bank feeds work in QBO.
Jafar Sharif awesome
You are an excellent teacher. Thank you!
Thanks
Excellent work. I have actually enjoyed your lectures and you have actually increased my understanding of categorizing downloaded transactions.
Thank you very well explain
Great content! Thank you!
Good job - clear explanation
Thanks, that was really useful!
Awesome, you welcome
Thank you. Great tips.
You welcome
Excellent Video, Hector . Thank you.
Thanks
Thank you Hector!
You welcome
Awesome! Thanks Hector
ozzieva you welcome
Thank you Hector.
You welcome
Great tips! Thank you!
You welcome
wish I had seen your video years ago!!!
Thank you Hector you helped me so much! Do you have any videos that show what to do with the bank transactions that have "match" or "transfer" by them? The checks I write to myself from my business account to my checking account come up as "match" when I review them. Any help you can give me would be greatly appreciated. Thanks again for a great video!
God bless for information we learned
Thank you Hector, this is very helpful. Question, once we add and categorize on the banking feed, do we still need to do and add on the expenses?
Thanks alot Hector!
You welcome
Hi Hector, can you do a video on liabilites accounts in qbo. Examples employee 401k /fsa/commuter check deductions from their payroll. Thank you so much!
THANKS A LOT VERY USEFULL
:)
hello again hector :) just passing by... hehehe have a great day
Great video, also now I'm craving La Granja lol
Ha ha... spend too much money there
Thank you for the tutorial. I have a question. I have been using QB online for a year and the problem I have on my deposits is that if I make a change on the deposit and save then at the end when I am doing the reconciliation I see the same deposit twice so QB only chooses the one I corrected but the other one stays in there. What am I doing wrong? How can I avoid the system leaving the deposit that I corrected? Thanks!
Maria E Dalton.
Great job Hector
Thanks
Can you go over how to add a wire transfer - bank to bank
I have three different accounts on QB's. When I am writing a check out out of the main account to these other accounts how is that classified for each bank? I have my main account, profit account and owners pay account. When the bank feed comes over what category should I put each of these under?
Hi Hector, we're a church organizations, will Quickbooks be a good software to use?
Thanks for this tutorial, it was very helpful! Do you have tutorials on how to prepare sales tax reporting packets for small businesses?
Susy G no, don’t have that.
I recently found your videos and love them. I have QB online. My banking tab does not have the categories in bubbles on top like yours does. Therefore I cannot group and batch action multiple items. Do I need to upgrade my QB?
shelley daza no, the bubbles were removed
I downloaded a personal checking account because we have paid business expenses out of it. I manually entered the expenses using the offset account Owner's Contribution. Have I done this correctly? I dont understand why the personal account is showing up in my balance statement though... even if i deactivate it, it shows.... please advise. Thank you. I learn so much from your tutorials. Absolutely one of the best! I appreciate your help.
Hey hector, I'm a virtual bookkeeper, how do I know the category of expenses the client has spent his money on so that I may record it in QBO? Currently the client puts narration of purpose against each transaction in bank statement's excel or csv file and I record accordingly in QBO.
Is ther any way out through this bank feeds functionality?
Please reply
Brilliant! Much appreciated!
You welcome.
Hector hello! Could you advise please is it possible to start the new year in Quik Book with new bank account balances, adjust them? I faced with the fact that for the previous year the balance does not match with the bank statement. The difference has been dragging on since 2018. I would like to somehow quickly adjust the incoming balances at the beginning of 2022
Powerful stuff. in comparison to quickbooks desktop which most these options dont exist.
Thanks for the lesson.
youtube watcher yeap
Still, I prefer QB desktop Premier or Accountant any day over the online version. I do have to admit the Online version is better than it used to be, yet I still gravitate to the QB desktop.
Super helpful Victor! I work in my iPad. How well does QB’s online work on the iPad?
Lol it's Hector ;)
Really like your videos-- great service for us techie duds! Question:I have Quickbooks 2019 for Mac. I can't even get started as I can't find that Banking page you start off with. Help! (and thanks(
QB Mac is way different, I have not created any content on Mac.
How do I categorize to chart of accounts subitems when I transfer between two checking accounts for the same organization?
Hello,
If I used a cc linked to business 1 for an expense for business 2, how would I categorize that in the books for business 1 and business 2 (separate and accounts). I’ve asked like 10 people and nobody knows, and every time I call quickbooks they say they can’t answer it because they are not CPA’s.
Can you explain the split key option? Or do your u have a video on it?
its just to log two categories into one transaction
How can i record mony send to vendor but the goods not coming yet ! Bcz if i add in expense the product will be added in the store but its actually not shipping yet
Vendor Prepayment asset
Hi Hector! What would your thoughts be on how to categorize earnest money that was refunded due to a cancelled real estate sale?
Other Income
How you create those bubbles (as you said)? Or is there a video about that?
I like your videos, I'm learning a lot.
Those are old.. don’t exist anymore
Hi hector ur a great help. Do u know why its showing me negative expense report on my balance sheet?
Balance sheet doesn’t have expenses, so not sure
Very good videos, my qbo does not have the bubbles as in your video at 1:31? Any suggestions? Thank you
Brenda some have it some don’t..
Hey was wondering if its possible to edit the Received and Spent Category? Have some under review that should be under Spent but seem to be in Received..
Chart of Accounts
Hector, I downloaded my chase account but have not downloaded my Amex card yet. Quickbooks has transfer and not add so how to I handle that ? Should I download my Amex card first?
Hi Hector, I am importing monthly tax entry from Checking account, but I could not figure out how to categorize tax entry?
Hi, thanks for the nice video. Just wanted to ask if there is any option to change the programme date in QB. I wanted to set up a recurring entry prior to date today and it doesn't allow to do that. In other software, you can change or lock the date to enter any transactions prior to the date today. Any help on this will be highly appreciated! Thank you.
Not possible
I'm really interested in Online but am concerned that I keep hearing reviews indicating that you can't have multiple companies with the online version. Is that the case even if you are self-employed and working for two or three companies ie. Lyft Driver, Travel Agent & Real Estate Agent where you're not invoicing independently? Also, I think the Self-Employed version makes the most sense for me, do to the Mileage tracking but am concerned there isn't enough customizability with the categories, maybe I'm wrong. Would love your thoughts. Thank you.
Did you ever get an answer?
Hector buenos dias, teno una pregunta, alguna vez has escuchado que haciendo ADD las transacciones, QBO las duplica o triplica? Dicen que es mejor hacerlas MATCH, es esto cierto? Gracias!!!
Woodbrid LLC a veces se bajan duplicadas.. si es el caso las tienes que borrar después.
HOW CAN CATEGORIES INCOME IN QBO ACCOUNTANT ON 2018 VERSION
Good tutorial. I have Quickbooks Online version 3.5.2-200 and my check register and the options under the gear don't look like the one that you are teaching from. Do they intentionally change layouts so that tutorials become obsolete? Thanks for posting this but it's frustrating.
They do change... but note sure what you are talking about, I would need to see a screenshot
Hi Hector, I'm already in the 30 day trial, can still use you code for the discounted rate? Great vids btw!! Thx.
If you didn’t use the link on the beginning, no.
Hi Hector. Here in Canada we have HST. When I categorize, how can I split the expense invoices into the expense portion and HST portion? Please advise.
I don’t use CA version.
My version doesn’t have add selected on the bottom why not
Great videos. Do have anything for using QB online with PayPal?
Thomas Walsh yes.. is in my channel
Hector, - a brilliant series, - thank you.
One thing bugs me: By mistake, I enter a bank payment as an 'Expense' when it should have been a 'Bill Payment'.
How can I reverse that? Can you comment?
Chris Derby you can’t change the type
Can you tell me or point me to video that shows how to manage payments that have been downloaded and apply them to an invoice?
I don’t know which video covers that, but the concept is called “Matching”
Publix is not office supply. Nobody goes to a supermarket to purchase office supply. Therefore a memo should be added to a vendor which normally does not handle supplies normally purchased from particular vendors, in this case Staples. You would not categorize Staples as meal expense as an example. The IRS auditors are not stupid.
Well that is all arguable... Publix sells napkins;, cups, plates, paper towels, printable paper, pens.... so it’s all circumstance
Thank you for your video. Do you have one explaining how to record transactions when PayPal is added as a bank in QB? I learned I'm supposed to record the transfer from the credit card to PayPal, first under the credit card bank, then when I go back to PayPal bank it should offer to match that transaction but I can't get it work. PayPal bank also isn't recognizing Shopify invoices to match them to payments received in PayPal. I need to balance my books but this just isn't working. Any help will be appreciated. Thank you 🙌🏼
I am going to do an updated PayPal video in Feb 2020
@@HectorGarciaCPA Awesome! Thanks so much 👍🏼👍🏼
Hi Hector. What are your thoughts on PDF2QBO I would like to upload all of my Bank statements from mid June 2015 to Today. Or is there another way to get the info into QB that is older than 90 days
Garry Skwarek if the bank give you access to a QBO file, then you dont need a converter
@@HectorGarciaCPA my bank only let's me download 90 days, that's the problem
What's the best way to categorize my credit card payments? Ex. When i'm on my credit card what should I categorize it as? When i'm on my checking, what should i categorize it as when it's paying towards my credit card?
Create a credit card account.. then you have o enter every charge from the credit card.
Hello 👋🏼 how do you match a transaction that was made once but shows up on banking as two separate transactions because of a convenience fee? Please help :( I’m so confused 🤷🏽♀️
crist2082 you have to click on FIND match and select them both
How do I get the various bubble to "All Transactions""Sales Income""Expenses""Taxes and Licenses Expense"
They removed the bubbles, but everything else is the same.
Hello, I want to know what categories to use for a truck company, how to pay for drivers, loan expenses ,when you pay chassi at the port I would like to Know the Categorise tha should be Used
I recommend to sit down with a accountant and do a few with him/her. There is no single black/white answer
is there a date range on what quickbooks will sync or download from your bank/credit card? I am not getting the entire 2017 year. It is only going back to Nov 2017 and up to May 2018 and we are now in August 2018. Thanks in advance for any help/suggestions
Rachelle Bennett most banks are limited to 90 days.. so if you got Nov 2017 that is amazing! You need to download the rest manually
Thank you so much! Which video do you show how to enter manually or excel? Thanks!
what about current? it is only showing through May this year?
Rachelle Bennett i May not have a video on manual data entry, LOL..
You need to go into the check register and enter it one by one.
I thought you could download it as an excel file and then upload it somehow, that is what I thought you mentioned somewhere. :(
I like the option " show bank details", but how can I make it stick???? It seems to go back to defaults (wherever they are set) when I leave that screen nd return????
I hate when that happens… seem to be random
Hi Hector, for the "received column" such things as refunds/credits or simply making a payment from bank account to credit card account, what do you do with them? Thanks! -Moses-
That’s for credit memos
Send them to the bank account the money went to or came from
I had found a video after i sent you a message about transferring and matching so that helped. What if the credit cards show negative numbers in banking? what does that mean? Thanks.
It is not a choice to enter the name of the vendor. You have to enter the vendor's name. In an IRS, which I have participated, audit they will ask why the vendor's name was not included. And if they view too many transactions with no vendor, they will fine you on this. The exclude section I use when customer's have two business or more and use the same credit card for all business, therefore, the exclude and batch delete come in handy.
I hate when people don’t enter the vendor name, and I will always advise against it. But the software does give you the choice.
Great tip on the “exclude” section. I just send it to shareholder distribution.
How does one turn on the "bubbles" across the top?
Kim Ranger they don’t exist anymore.. :(
Can you change a category on a deposit?
Yes..
I did not see where the Bank Feed did matching with what was already in the Register in your tutorial.
Tim Baker check the other bank feed videos
Hi Hector! I just wanna ask what to do when intuit charge us twice in a month?
Call them
@@HectorGarciaCPA thank you hector! You really a big help
How do you deal with the taxes from these invoices?
You can turn on the Sales Tax feature
Is there a bank Simulator that's works like a real Bank minus credits cards that will connect to QuickBooks Online
Its like a fake bank but operates like real one
No clue
Hey Hector how are you? where can I get one of those hats?
I bought this at the QuickBooks Connect conference
@@HectorGarciaCPA Thank you do you know if there is a website where I can buy it?
Can you use this with a PayPal?
Yes
Where can I find someone like you local? in Destin FL?
Chinh Cao search for “find a ProAdvisor”