After you've downloaded transactions from your financial institution, you can assign and categorized them. QuickBooks Online analyzes all the information received from the bank and tries to give you the best possible suggestion for accepting the transaction.

Quick Navigation
Review a downloaded transaction
Assign a single payee, category, class or location to multiple transactions
Assign multiple categories to a single transaction
Assign a billable customer to a transaction
Add an attachment to a banking transaction
Accept a transaction
Edit a transaction
Bank Detail settings
Change a downloaded transaction type from Transfer

Review a downloaded transaction

  1. From the left menu, select Banking then Banking.
  2. Select the row of the transaction. The DESCRIPTION column gives you a clue about the type of transaction it is.
  3. Review the transaction:
    • QuickBooks Online may display a matching customer or vendor/supplier name if one exists. If one doesn't exist, you can add the name in the Select Payee field by clicking Add on the upper right. The Payee field lists Vendors/Suppliers, Customers, and Employees. If you don't select or add a name, QuickBooks Online adds the transaction to the register without a name/payee when you accept the transaction.
    • QuickBooks Online might show possible matches from existing entries like payments from customers and purchases to vendors/suppliers. For example, if an invoice payment matches a downloaded income transaction, QuickBooks Online suggests it as payment for the invoice.
  4. Review the selection in the CATEGORY OR MATCH drop-down to see if it's accurate. If the entry is either Uncategorized Income or Uncategorized Expense, choose a more specific category from the list. You can create additional categories (from your Chart of Accounts) as needed. You can also split a transaction between different categories (see section below).
  5. Select a class or location, if these fields appear in the row. These fields only appear if you have set up classes or locations in your company settings.
  6. When you're satisfied with the information in the row, select Add. The transaction moves from the For Review tab over to the In QuickBooks tab.

Assign a single payee, category, class or location to multiple transactions

  1. Check each transaction you want to assign the same accounting information to (payee, category, class, location). You can choose multiple rows by selecting the first, holding down shift, and selecting the last.
  2. Under the Batch actions drop-down arrow, choose Modify Selected and make the changes you want. 
  3. Select Apply.
  4. The transactions move from the For Review tab over to the In QuickBooks tab.

Assign multiple categories to a single transaction (split):

There may be times when you want to split a transaction, either a deposit or expense, between different categories.

  1. From the left menu, select Banking then Banking.
  2. Select the transaction's row, then select Split.
  3. In the first and second line, select an account under CATEGORY and then enter an amount.
    • To add more rows, select Add lines
    • To delete a row, select the trash can icon 
    • To start the split transaction process over again, select Reset
  4. When the total amount matches the downloaded amount, select Save and add.
  5. The transaction moves from the For Review tab over to the In QuickBooks tab.

Assign a billable customer to a transaction

Note: In order to assign a billable customer to a transaction, billable expenses must be turned on. To turn it on:

  1. Select the Gear icon at the top, then from Your Company, select Account and Settings (or Company Settings).
  2. Select Expenses from the left.
  3. In the Bills and expenses section, select the edit (pencil) icon.
  4. Ensure that the following items are checked:
    • Show items table on expense and purchase forms
    • Track expenses and items by customer
    • Make expenses and items billable
  5. (Optional) Set the markup rate.
  6. (Optional) Change the income account you wish Billable Expenses to affect. By default, Billable Expense Income is selected.
  7. Select Save, then Done.
  1. From the left menu, select Banking then Banking.  
  2. Select the transaction's row, then select Add.
  3. Check the box for Billable.
  4. In the Select Customer box, choose the appropriate customer. 
  5. Select Add to save the transaction to your register. 
  6. The transaction moves from the For Review tab over to the In QuickBooks tab
Note: If a transaction needs to be split, you can assign a customer and make billable on the per line detail level in the split screen.

Add an attachment to a banking transaction

  1. From the left menu, select Banking then Banking.
  2. Select the transaction's row, then select Add Attachment.
  3. A File Upload window will pop up. Navigate to the file you wish to upload and select Open. 
  4. Once the attachment has been added, you will see the file name next to ATTACHMENT. If the wrong file was uploaded, select the X next to the file name to remove it.
  5. Select Add to save the transaction to your register. 
  6. The transaction moves from the For Review tab over to the In QuickBooks tab. 
Please keep in mind the following information when adding attachments to a transaction:
  • Only one attachment can be added to a transaction. 
  • Attachments have to be linked to a transaction in order to be uploaded to the account. 
  • The attachment is not saved until the Add button has been clicked. Navigating away from the page without clicking add will require the attachment to be uploaded again. 
  • If a transaction is added as a Match, there is currently no way to add an attachment to that transaction. 
After you assign and categorize a transaction, you accept it into QuickBooks Online so it is added to the bank register and becomes part of your business finances. This is an important step because transactions that aren't accepted can't be tracked or reported on.

Accept a transaction

  1. From the left menu, select Banking then Banking.
  2. Select the row of the transaction and review it, selecting choices in the PAYEE, and CATEGORY OR MATCH drop-down lists. Specify Class and Location (if set up in your company settings).
  3. Select Add.
  4. The transaction disappears from the list and moves to the In QuickBooks tab. You can make additional changes there if you need to.

Accept multiple transactions at once

  1. Review and categorize several transactions, but don't accept them.
  2. Reviewing can be more efficient if you select a column header, such as DESCRIPTION, to sort similar transactions together.
  3. Check the box to the left of the date column for each row you want to accept.
  4. At the top of the list, under the Batch Actions drop-down arrow, choose Accept Selected.
  5. All the selected transactions move from the For Review tab to the In QuickBooks tab.

Edit a transaction

You can edit a downloaded transaction, whether it's unaccepted or accepted, including changing how you assigned or categorized it. You can also undo an acceptance, and even exclude a transaction from being included in your business finances. See Exclude downloaded transactions from your business finances or due to duplicate banking transactions for the steps on how to exclude transactions.

Change an assignment or category for a transaction

  1. On the For Review tab, select a row.  
  2. Under the CATEGORY OR MATCH drop-down arrow, choose an account.

Note: You can't change the assignment or category from the In QuickBooks tab. You can only change them on the For Review tab or in the corresponding QuickBooks transaction.

Undo an acceptance

  1. On the In QuickBooks tab, click the Undo button to move that transaction back to the For Review tab.
  2. For multiple transactions, check the box to the left of all transactions then select Undo. The transaction will now be in the For Review tab.
  3. From For Review tab, select the transaction and click the CATEGORY OR MATCH drop-down list and select an account.

Bank Detail settings

Bank Detail information is downloaded automatically from the bank into QuickBooks Online. There are two settings within the Bank Feed window that can be turned on or off as necessary.

When the transactions are downloaded from the bank, you will notice the bank detail information has been copied into the Memo field on the downloaded transaction. 

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This setting is turned on by default, but can be turned off from within the bank feed window:
  1. Select the Gear icon just above the ACTION column.
  2. In the drop-down menu, uncheck Copy bank detail to memo

User-added image

The Bank Detail information that is downloaded into QuickBooks Online may be slightly different than what your bank statement shows.  

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This setting can also be changed

  1. Select the Gear icon above the ACTION column.
  2. In the drop-down menu, check or uncheck Show bank details.

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Change a downloaded transaction type from Transfer

If QuickBooks Online is automatically assigning Transfer to an expense transaction after downloading an .ofx file from your bank and you'd like to change this, here's how:

  1. From the left menu, select Banking then Banking.
  2. Select the row of the transaction you wish to change.  
  3. Change the radio button from Transfer to Add or Find match.
  4. You should then be able to re-categorize or match your transaction.
See also:
Matching downloaded transactions to existing QuickBooks Online transactions
Unmatching and deleting matched downloaded transactions
Exclude downloaded transactions from your business finances or due to duplicate banking transactions 5028