If you need to keep a personal expense out of your business finances, or if you have duplicate bank transactions, you can exclude it from the transactions downloaded from your bank or financial institution.

Exclude transactions

  1. From the left menu, select Banking.

  2. On the Banking page, select the For Review tab.

  3. Select the checkboxes of the transactions to exclude.
  4. From the Batch actions drop-dow, choose Exclude Selected.

Excluded transactions are listed on the Excluded tab for reference or review, but are not tracked or reported as part of your business finances and don't appear in any associated account registers or reports.

Include previously-excluded transactions

If you have accidentally excluded a transaction, you can easily include it again:

  1. From the left menu, select Banking.

  2. On the Banking page, select the Excluded tab.
  3. Select the checkboxes of the transactions to include again.
  4. From the Batch actions drop-down, choose Undo.

The transactions are returned to the For Review tab where you can categorise, add, or match the transactions again.

Excluded transactions and reconciliations

Excluding duplicate transactions does not affect reconciliations. If you exclude a downloaded transaction because it's a duplicate, when you reconcile the account, your balances will match.

If you exclude transactions for personal expenses, your bank register won't reconcile because the bank balance and the QuickBooks balance won't match.

This is not an issue if you don't reconcile your bank statements with QuickBooks Online, but if you do (or if your accountant instructs you to do so), you can track your personal expenses by adding yourself as a supplier and assigning the transactions to an owner's equity account (often called an owner's draw).