How to Categorize Transactions from Banking in QuickBooks Online

QuickBooks Online free tutorial, how to categorize transactions, when to match, when to record as a transfer, when to categorize. What is the difference between transfer and categorization.

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[HeatherMullikin-pu]

Great videos! Question. I have a restaurant and use Toast integration. Toast creates a journal entry every day. All of the cash sales go into the cash account. When we deposit it, I create a transfer from Cash to Checking and I'm able to match that amount from the bank feed. One day we got a check from a local work program for on the job training reimbursement for two employees. We deposited the check and cash at the same time so the bank combined them. I have the check amount categorized as other income. Now I cannot match my deposit from the bank feed! When I click match I see the cash transfer but not the other one. What am I doing wrong?

[sharondowner]

Thank you for the helpful, HELPFUL video! You make for a good teacher.

[AngelinaShaw-ex]

It is the first time we are using QBO and when connected to the bank, the bank feed only started from May 2024 and now it is automatically uploading new transactions. What is the best way to get the transactions from Jan 1 2023 to May 2024. Can we download from the bank as CSV or excel and upload to QBO or can we delete all transactions from Mat and do it over. Thank You.

[MaryLouBurgos]

Hello. where to categorized, if the description is RESERVE RELEASE and in the checking it is in the received column and his business is e-commerce. And I looked on his chart of account and I saw under "other current assets "there is a "channel reserve balance : shopify reserve balance" am I correct if I put in under that?thank you

[Sol-byjd]

Thank you for sharing Claudia, is categorizing transactions same as recording transaction?

[Stevenhcc]

Hi there! Can you show us how to use the "Paired to another transaction" feature? Would love a video on that!