QuickBooks Online Tutorial: Categorizing dowloaded transactions (2022)
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- čas přidán 1. 07. 2024
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To take an in-depth Online Banking & Bank Reconciliations course with me go to:
bit.ly/onlinebankingcourse
Updated April 2021, Use Coupon BANKING50 before 3/31/2021 for 30% off the course.
Timelines:
00:00 Intro
02:02 Connect your bank, choose dates
05:07 Navigating Banking Screen
08:02 Categorize your first expense
20:11 Reviewing Automatic Rules
21:54 Categorize more expenses...
27:19 Split Transactions
28:34 Rules based on amounts
31:02 More categorization...
32:24 Transfers
34:26 Matching current transfers
36:10 Transaction grouping
44:30 Categorizing sales/income
47:50 Reviewing reports after categorizing
49:45 Missing Payee issues
51:39 Outro
Video on multiple credit cards with sub-accounts: • QuickBooks Online Tuto...
Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting (rates vary from $275 to $650) for first consultation depending on length and consultant required. E-mail Hector your questions hector@garciacpa.com - Věda a technologie
Your videos are so helpful! Slowly trying to get my head around Quickbooks and your videos make it much easier.
Love your videos. Even though I took a college course many years ago in qb desktop. It helps watching your videos as qb is constantly changing and I am a self-employed bookkeeper. It is reassuring to know that I am doing things correctly. Thank you!
Great video as always! I have learned so much from you in the last few months.You have been a blessing to my new small business!!!!
Hector, you have some of the best videos on Quickbooks!
Reconciling the bank accounts, I get. But the biggest caveat I left with was actually understanding the difference between the QBO bank balance and the bank statement balance! I finally get it! Thanks, Hector!
I absolutely feel so confident after watching your videos! I will be taken your advance course very soon.
Awesome
Thank you so much for your video. I learned a lot. I will start categorizing by vendor now.
so helpful!! 😁 I love those tips you have to make your categorizing faster and more efficient. Ive been categorizing one by one this entire time.
Awesome
Thank you for clear video quality and humble attitude!
you were exceptional, the effort you put in is emensly appreciated! the clarity and explanations are very helpful. thanks very much
Glad you like it.
Hector, thank you so much for making these videos.
You welcome
Hector, you are WONDERFUL!!
Thank you for your video. I learned a lot. I'm starting to use QB with our new company and I had to review using QB. Thank you again.
You welcome
Great video! i just started using quickbooks online and your videos have helped me a lot! Do have a video for bank reconciliations on qb?
Nice clear explanations. And you repeat enough to cement the methods into my head. Thanks Hector.
Glad you liked it!
Thank you sooo much ❤️❤️❤️ very clear tutorial
Hello Mr Garcia, Thank you very much for all you do. I have some bookkeeping background but it was long time ago. Do you have any clip that shows how to start with opening balances such as Receivables, Payables, Partners Distribution etc. I just want to know how to enter those transactions when you start a new set of books. Thank you.
Hector Garcia is my favorite youtuber!
Amazingly helpful, Hector! I'm trying to reenter the workforce and my QB knowledge goes back to desktop, so this is a much needed refresher. I already had one embarrassing interview/skills assessment before discovering your videos. (Just a Note--Probably not important since it's not your actual QBO account, but FYI: in the video you entered State Farm as a payee and QB categorized the Type as a Customer instead of a Vendor. You were entering quickly and talking so you didn't see it or change it.)
Awesome video Hector. Thank you so much!! I subscribed and will continue to watch and follow you.
:)
Hector, thanks for your helpful video
GREAT TUTORIAL ! THANK YOU
Great Video. 💕 thank you so much for your effort. Great help. God bless 🙏
hey hector hope you doing well ! how do you categorize checks ? ... I make checks payable to my gold vendors, each check has a specific #, since january 2021 to present, QB uploaded more than 100 checks, I am having a really hard time categorizing them, because I can't create a rule on them .... all checks are for different gold vendors .... is it better to pay with debit card in the future so the transaction shows with the vendor name on my checking and I can create rules ? ... thanks again for your amazing job. God bless you man.
Great Video, helped a lot!
Can you create subcategories under specific categories? IE. under a home for investment, can you make a sub category for landscaping, electronics, etc?
Making me more confident
Great
Thanks for the tutorial. Really appreciate it.
You welcome
This video was so helpful. Thank you!
Glad it was helpful!
Do you have any Quick Book tips for people that have multiple LLCs and S Corps? It would be nice to get a video for this.
Love your Video!!
Hello Hector,
Another awesome video jampacked full of helpful information. Thanks so much for all your videos.
I just had one question. At the 32:24 Transfers section, you mentioned changing the "Transfer Account" to the 8200 account because that's the account being transferred too... However, I noticed that in the Description column the actual account number there is 8208. Is that ok that they don't "Match" exactly? Am I being too particular? Sorry, I just wanted to make sure if I have to match the account exactly or if it's just an internal / company numbering system that doesn't matter as long as it's within the 8200's range?
Thanks again for all your hard work. It's greatly appreciated.
hi angel, my GUESS: i think the 8208 account was must mis-labelled as 8200 when the account was named. you can name the accounts anything you want ... the 8200 isn't a number in this case, it's essentially a "text description." the 8208 number was in the bank detail of the actual transaction, so that's probably the correct four digits. GREAT eye!! (p.s. i hope i'm right ... hector will chime in at some point :-)
Once you hit confirm or "add" on my version, where does it go and can it be changed?
Hi Hector Thank you for all your helpfull videos, I feel confident when I waTched the videos, but when I go to my Qb everything look different. Let me tell you I am amateur in this, trying to help. Here is my question, many time I see payments regrouping under only one transaction, and the number dosn't match with whatever custumer pay. and make feel lose. Can you please guide me how to look on this.Thanks in advance.
Hello, do you or anyone know how to categorize deposits from customers and partnership distribution?
Your link above takes me to QBO not your site. Also, looking for the link to the 'matching' video you mentioned at 11:00 min you would post a link to. Thanks
Great video. Which quick book version would apply to non profit? Advance seems close. Thanks so much!
Plus or Advanced
Your video is very helpful, but I still need some one to help with setup in QuickBooks, Can you referrer a CPC or some one to help?
Pls how can I categorize a return payment to business account, after categorized it as expenses months ago?
how do we apply payment transaction on paybills, example insurance payment ?
Does anyone know how to categorize the transactions from Roth IRA and Robinhood on Quickbooks?
This is very helpful
;)
Hi Hector. I am enjoying your videos; very informative. I have a question about categorizing. Your screen has "Confirm" and my screen has "Add". Are they the same? Thank you.
That is correct
@Hector Garcia CPA I see that you're adding merchants' names into the payee column for a cc. We sometimes issue a check to a cc merchant. In the case that we have to 1099 that payee, how do I easily separate out the payments that were made via cc (since the cc company is responsible for the reporting of those payments)?
I could be wrong but I think you would create the credit card payee as a Vendor and the 1099 eligible payee created as a Contractor for those direct payments, two different payees even if it's the same entity, perhaps differentiated within the name to avoid confusion.
How we can check nature of business
Good job👍🏻
What if my husband, who has a landscaping company, has regular expenses like at Home Depot for equipment but then an actual expense to a vendor for plants. Why would he name the payee as a vendor?
Hi Hector. Great video!! I have a question .How to categorize the transfer transaction that owner did . is business or personal? Also he wrote checks and cashed,then spent cash from those checks on personal items and material expenses for business.
There is another video that covers that with great detail.
What is the name of that video?
Thanks
@@raquelgarcia7261 czcams.com/video/kbwX5natX9c/video.html
I did not see the option to assign a class which I need to do on all cost of good sold. Does this depend on the subscription service you are paying for? Thanks you so much for this video!!!
Yes, you need PLUS or above for classes
I own 3 businesses, which version of quickbooks could I use to manage multiple businesses, am I better off with the desktop version or online? I have a real estate school and 2 brokerages and may be starting another business in the future that is totally unrelated type of business.
Desktop will be less costly as there is no limit how many companies you can run. With QB Online it will be one subscription per company
Hector
Ty greatly.
When writing checks in desktop I would put in full amount and then go to split below. I could put in first split amount and enter and it would go to the next split line and automatically show balance of my total check amount in entered...and so on. I don't see this in qbo?
Can you help.
Ty
It doesn’t do that in QBO
Lovely video
:)
hi the 50% off for one year can i use that in canada as well? Im about to sign up, but want to make sure getting pricing in CDN dollars thanks
No.. only US accounts
Thanks!!
You bet!
that was great thanks.. how can someone chart a credit card payment paid with owner own cash to a credit card ?
The payment book it to shareholder distributions
how can we get the discounted price please? great video, thank you!
Use hectorgarcia.com/qb for 30% off a new account
Can QBO categorize expenses as items? I am a builder and most of my transactions are items (Expense / Item tab). THANKS!
It can’t.
@@HectorGarciaCPA Thanks! Its ridiculous they haven't added that. Items are so important for reports.
891th person to watch
All the way from Himalayas ❤️
Thanks a LOT... that’s cool
Hi Hector! How do i categorize bank reverse fees? Its not income so do I use CREDIT on bank fees? How should I do this ? THANK YOU
Credit bank fees
thank you
So on my P/L it will show on the credit side for bank reverse fees
Making Rules 28:53
Hi hector
Thanks for the video
Is there a way QuickBooks can help extract attachments from email to QuickBooks ? Thanks
No
@@HectorGarciaCPA thanks
I know u r quite good with excel , do u know if I can assign vat automatically to my suppliers , so I don’t have to do it all the time ?? Thank you so much . U made me decide to use QuickBooks and I am using it now .
42:50 oh no Hector, you misspelled tax!
Can you provide the categorizing process link of the Intuit transactions (invoice matching)?
No clue what you mean
one Credit card account is connected Suppose for 01/01/2023 can we change it to 12/22/2022?
Once connected can go backwards
Thank you for another great video! I am also trying to find your in-depth course and the link takes me to a page that says "Something is Wrong Here" error 404.
I just tested it.. didn’t get an error.. not sure what happened with you. Are you clicking or copy/pasting?
@@HectorGarciaCPA I was clicking. I tried copy/paste and it worked! Thanks for the reply.
Hi Hector, thank you for this but I still have an issue with the uploading of my CC transactions. Can I e-mail you directly and get a consulting? How much it will cost? Thank you in advance!
Emailed me first so I can check if is something o can answer via email
@@HectorGarciaCPA Sure, what is your e-mail address?
Greeting Hector,
Thanks for the video. Please share the Credit Card banking categorization video link. The link you provide does no work. Thanks in advance.
its in the description.. the link DOES work, I just tested it.
Hi Hector, Do you offer Quickbooks Desktop course online?
Yes hectorgarcia.teachable.com
I have a question if we are not using the employee payroll in quickbooks online so how we can connect the employee salary with the project
You would need to do it manully with a journal entry
What if your company doesn't charge sales tax? Is there anything in QBO that we have to do?
Just dont enable it
Hi Hector, I am a new QBO student. And would appreacite your help. When I categorize transactions, I get a tab for Tax. But I don't see that on your screen. Can you please explain why that is? What is the purpose of the Tax tab on the transaction screen?
That’s outside of the US.. that’s different. i dont know
I have my main checking account connected, but when I go to banking/transactions, it does not give me the option to add another. It only shows the checking account transactions. How do I add my cc account?
There is a section for “Manage Connections” where you can do that
Good afternoon Hector. How would you categorize an "Early Pay Discount" in credit card transactions? Thank you sir.
you got the discount on a vendor bill? or your customer got the discount on your invoice?
@@HectorGarciaCPA we get an early pay discount from a credit card vendor if we pay by a certain date. It shows up in that credit card transactions in qbo as a positive number. Thank you for your quick response!
@@610coffee other income: Credit Card Rewards
@@HectorGarciaCPA thank you sir. Really appreciate your content. Has been most helpful!
Just started using quick books online and I don’t see a clear option for sales the program calls it “services” is this correct? I was originally using self employed and the terms were way easier
You can create a “Sales” income account if you want
Hector, the link for the "online banking course" appears to be broken.
I just tried it... it works, not sure what issue are you having
How do you categorize personal expenses paid with business, or business expenses paid with personal credit card?
There is a video in my channel focused on that very thing, just search for it
@@HectorGarciaCPA definitely will take a look. Thanks!
Excelent
What if when downloading the transactions it doesn't give you the option downloading per card holder? it downloads all transactions of all cardholders together.
Some cards do, other do not…. You can’t control it
i cant even find transactions on the left
How would you categorize net payroll transactions that are being imported from bank?
Thats a complex question, take a look at the video i have on “ADP” it should provide some guidance
@@HectorGarciaCPA would that video still pertain if we’re using quickbooks payroll?
If I had a customer give me money for supplies, then purchased supplies with my work account, how would I categorize the receipt for that so it doesn’t mess with profit loss ratio?
Use the same category for the money coming in as the one coming out.. it should net to zero
Hi sir, is your quickbooks applicable to the Philippines setting?
No
@@HectorGarciaCPA Thank you sir for the response
How to record an EDD California check in QBO?
Payroll Liabilities
What happen if the transaction has tax, Can I manually input the tax code?
We dont deal with categorizing tax on expenses in the US
I did all of these steps and I have an account without paying anything , so my question is , do I need to pay to to get the training and take the exam?
My videos are no focused on any exam… they are practical advice for QB users.
So after this process why aren't they showing up in my reconcile screen?
They should be showing.. not sure what you are looking at..
QB online is not showing the option of Journal entry, how can I active it?
Still having the same issue?
@@HectorGarciaCPA Yes
@@HectorGarciaCPA Sorry general entry I got it.
Bank transactions are not sync with q
16:37
Sa
im getting very dizzy and distracted by the constant zoom-ins on the mouse pointer
Nothing is complex in QBO.Just an overrated software
You want it to be complex?
Your voice quality is very poor
I had voice surgery last year actually
is THE advanced lesson on credit cards an transfers available to me or do I need to pay?
Its behind a paywall