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Online transaction "rules"

Posted by Michael Davids 
Online transaction "rules"
October 28, 2012 02:01AM
(Imported from our Old Forum) By KJ Murray:

Hello,

I use the online banking features, and when I downloaded transactions from my bank they all came through as "ATM Withdrawal." After changing most of them to reflect what they really were, and with 170 left to go (several months worth, I have been somewhat lazy about my bookkeeping) I left the last ones to re-work them later. How do I go in and change those transactions now to straighten things out?

Thanks!
Re: Online transaction "rules"
October 28, 2012 02:01AM
A bit confused by the question.

If you already changed most of those account from ATM to its respective account, then proceed with the rest.

Is your question wanting to know if there is an automated way to fix it or?

The main thing that is important is what Chart of Accounts each of those transactions are going to. The name of the Vendor is recommended but optional as it doesn't affect the company's financial numbers. That is more for reference for tracking purposes.

IF you dont really care to track who you pay to, once again, just make sure that you classify business expenses under the right category and personal expenses against owner's equity.
Michael -
I'm picking up Quickbooks after several generations of not using it (QB 2013) and I'm struggling with the same issue. The downloads from the bank have additional 'data' in the Payee and Memo fields. Is there an automated way to eliminate this data? Or do I have to go through item by item and delete it?
Re: Online transaction "rules"
May 01, 2013 05:21AM
Hello Jim,

Unfortunately you have to delete them manually. You should check the renaming rules periodically to make sure the Online Banking doesn't use the wrong vendor name. It is found in the top right corner of the Downloaded Transactions window.

If you choose "Add Multiple" you can put the Vendor name in yourself as well as the account for future downloads.
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