QuickBooks Online Tutorial: Categorizing dowloaded transactions (2019)

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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:

In-Depth Bank Feeds Tutorial:

[RealMattCalvin]

Hector you deserve every bit of ad revenue that you generate on YouTube. You do a great job and are very thorough. Keep the content coming! $$

[rosanneturkington]

Can you go over how to add a wire transfer - bank to bank

[deegathers]

I've been looking for this explanation for YEARS!!!! Thank You.

[aqualuxx]

Wow more helpful than official quickbooks vids! thank you and thank god youre here.

[shaileshpatel]

Hi Hector, I am importing monthly tax entry from Checking account, but I could not figure out how to categorize tax entry?

[conniebrancato]

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.

[michellecoon]

How do I categorize to chart of accounts subitems when I transfer between two checking accounts for the same organization?

[utleyadmin]

God Bless You, Brother... Maybe the best presenter on Youtube.

[alejandrochaves]

You have no idea how helpful this was. AMAZING stuff

[kathyscholl]

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?

[juliegonzalez]

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?

[dianaandino]

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

[thomito]

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????

[jonathanlarios]

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.

[joanndelatorre]

My version doesn’t have add selected on the bottom why not

[gregdalton]

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.

[skyerlog]

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!

[josangloria]

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.

[abuzarqazi]

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

[ceciliasalamanca]

How you create those bubbles (as you said)? Or is there a video about that?

I like your videos, I'm learning a lot.