Reclassify Transactions in QuickBooks Online (2019)
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- čas přidán 5. 08. 2017
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UPDATED 2020 VIDEO: • Reclassify Transaction...
Hector Garcia, CPA shows four ways to reclassify transactions:
1) One by One
2) Doing a Journal Entry
3) Batch categorize via the Expenses Tab
4) Use the Reclassify feature in the Accountant's Toolbox (Accountant's Only)
Topics contained in this video:
00:00:34 - Four ways to reclassify transactions in QuickBooks Online
00:01:08 - How to change one by one transaction in QuickBooks Online reports section (step by step)
00:02:14 - How to create a journal entry (step by step)
00:04:01 - How to change categories in batch (step by step)
00:08:22 - Batch reclassify (reclassify transactions in QuickBooks Accountant in the Accountants toolbox) (step by step) - Věda a technologie
Take a look at this 2020 updated video: czcams.com/video/fU4jLbckpN8/video.html
Just want to say, your videos have been very helpful and straightforward. I'm just getting a start in the field and your videos have been amazing! So thank you!
Thanks.. I love that they have been helpful!
Hector, your all videos are the best, because you are the best coach.
Hector I just wanted to thank you for taking the time to create these super helpful videos! I'm new to QB and your videos have literally helped more than I can describe!
Awesome!
@@HectorGarciaCPA So Cute! thanks for making it fun 🎉
Hector, you have saved me HOURS of work! Thank you!
Rugged Rosaries yes! That is the idea..
I truly appreciate you taking time to create this video.. the best video hands down
mommy angels glad you like it
You had me at, "I'll wait.." LMAO! Love seeing others in the accounting world with a great sense of humor. Great video, super helpful!
Thanks Hector. It helped while working in office.
Hector, thank you so much for doing these videos. So helpful.
Steve and Jody Brown you welcome.
Wow...thank you so much, Hector! And I did hit the 'like' button! I must tell you that when I called QBO customer service about a month ago and specifically asked if there was a way to reclass a batch of transactions, the fellow was very nice that I talked to but told me there was not. And with this new client I have, there are literally hundreds of transactions to reclass.
I just tried reclassing about 100 transactions and QBO said there was an error --the server was busy and that I should come back later...lol No problem...I now know how to do a batch, thanks to Hector!
Hi Hector, your tutorials are great. Thanks Kevin
One of the best videos I have watched - thank you, Hector
Awesome
The question "Can I reclassify transactions in bulk" was just answered by a quickbooks employee on 8/9/18 with the answer "No, only an accountant can do this" - but I just tried to do exactly what you said in this video and it totally works. Holy cow, so fantastic.
Nathan Young :)
Hector, man you are soooo brilliant. I’m fairly new to the accounting world. Currently taking college courses but man most of the time when I don’t understand i come to your channel. Thank you!
Nando C thanks / you welcome..
Great video Hector, well worth the thumbs up!
thank you Hector!! bath re-class in expenses - very helpful!!
Clear and right to the point. I have almost zero background of accounting, but after watching few of your videos, I feel I can do the whole year accounting by myself. Thank you so much
Sadeq Bazara thanks awesome
You are awesome Mr Garcia, very precise and prompt instructions without wasting anytime.
Really appreciate your way of teaching🙏🙏
Thank you for your kind words, I'm happy you are learning!
This really helps me a lot! 👍😊 Thank you so much, Hector! Merry Christmas! God Bless you and your family abundantly! 😊😊
Likewise.
This is the best video, no doubt about it.
Thanks
Gave me the answers I needed, thanks Hector.
Perfect! You are welcome
I think I love you. You just saved me several days of booooring work
Awesome!
Exactly what I was looking for!! Great video!
Thanks.. there is an updated version of it.. I recommend that one.
Thank you Hector! I had a QuickBooks support person suggest your channel while I was chatting with her.
Hehe it happens
Love this!!! Thank you so much!
Awesome video hector. Thanks a lot.
You welcome
Thank you so much. I was looking for some information and got a whole lot more than I was not aware of that existed. God Bless You....
..
You welcome
I wasn't about to give you a like in the first few seconds of the video, but that was a mistake on my part - you really earned it. Best video ever!
Taco Cat haha...
Thanks for the video Hector!
Wil Gong you welcome!
Very helpful, especially having several options to achieve the same results
Agreed
love it dude! I just paused from laughing to like the video. im ready for this now
Thank you thankyou thank you Hector! The Accountant Reclassify!
Kelly Christian & Company Online Bookkeeping & Business Specialist yeap
Great tip thanks.
You welcome
Best CZcams VIDEO ever. Way better than cats doing crazy things.
Curt Comber if I could get a cat to reconcile a bank account, I would be viral...
man, you are good and kind
Thanks
An amazing video as always. you are the best !.
I am looking for one that you would do transfers between accounts in qbo ?.
Thank you. Great tips.
You welcome
Very helpful!
This is very helpful. Thanks again!
Awesome
Thank you!!! this saved me so much time!! I get very frustrated with QB's online :)
Karina Aguiar you welcome
Very very helpful video.
Good...
Great video, can you reclassify after reconciliation is done? Does reclassifying affect bank rec's?
thank you
You welcome
Great video and content! I'm trying to move security deposit to rent payment in QB. How do i do that in QB Online? Thank you!
Hector, good stuff. Thanks. Rick
You welcone
Hey Hector! What is the purpose of having different classes on QB? Do you have a video explaining that? Thank you so much for all you do, I greatly I appreciate the content you upload in here, thank you for your time!
Leilane Teles Nunes to have different profit centers to track.
Great video. What is the difference between Accounts or Classes? I want to enter income received from various rental properties. If I want to create a Profit and Loss report for each building, in order to sort and filter, WHERE would I ass/name the classification?
Perfect.
SP601 :)
Thank you for your excellent videos > I am new to QB on-line and hoping you can provide a quick answer (qb HELP doesn't come close to my question). Items transferring from our bank to QB are categorized. We categorize our checks when issued. I now have the items listed twice in expenses, once due to check issue and again when the check is cashed. Should it work this way? Do I have to manually uncategorize these after the check clears? Is it maybe just the older data this is happening to? Thank you.
Hi!your videos are very great. Just want to ask if we can reclassify transactions that were already reconciled. Will it affect the reconciliation done?thank you!
Hector great video. Question - how do you classify Open PayPal Authorizations? The statement won’t reconcile if you don’t enter them. Thanks so much.
Hector, thanks so much for your informative videos. I always get the answers I need from you. I have a question about reclassifying transfers. I have done several transfers from one account to another and I need to put them in a particular category. Can it be done?
Can’t reclass transfers really
I only like your post Hector!!
Tracy Smith thanks
A great tutorial Hector! Can I ask if there is a way to batch convert entries categorized at an expense to a transfer?
Really appreciate any help you can give.
Tyraus Farrelly there isn’t
thanks, Hector Garcia GPA
You welcome
How do you get the Client/Project to show up as a column with in batch processing?
Hector your videos are very helpful. How can you correct the transactions that were not encoded in the General Ledger for the previous six months.
Fay's Book if they are not in QuickBooks; you can’t reclassify them.
Hello sir,
I have a question regarding the account type for Donor fund, what type we should select in Quickbook Chart of account, and how we record the fund when we received. and my second question is how we record the inter regional balance transfer transaction.
Thanks,
Hola Hector hay alguna forma de agregar un vendor (ej. una aseguranza) con diferentes números de cuenta y diferentes direcciones o simplemente se tienen que crear 2 vendors?
Hector,
Your videos have been an incredible help. I use the Desktop version of Quickbooks as I prefer it over QBO. When it comes to reclassifying, is there a way to filter out classes so I can highlight the unclassified class of transactions with the select all feature? Right now I have to unselect each transaction individually that has its dedicated class to remove it. Any ideas would be appreciated! Again, thank you for your great work.
Hussein Khalil there is no way :(
perfect
Thanks
Thanks for the videos. I've been watching quite a few but could not find one on how to break down a single check payment into different categories. Also, do you have a video on backup for Quickbooks online?
Different categories, just enter them as multiple lines in when you create the check, should be pretty obvious.
There is not backup feature in QB online
Hector Garcia CPA
Thank you so much for the quick response Sorry for the “silly” question but QuickBooks is really new to me. I’ll keep watching your videos to learn more.
Thanks for the video! Unfortunately, I don't see a way to do batch actions if it is contained in a split transaction. :(
That’s true... split can’t be reclassed in batch.
Just below Payee in the filter you have Category which is not the case am having down here. How do I set so that it to appears to be able to view the expenses in a particular account. Cheers and good Job.
This was so helpful! Is there a way to do a batch change for deposits?
Of you are an accountant, you can use the reclassify tool.
Hi Hector, Thanks for the info. I live in australia, quickbooks asks for a gst code, but if the business is not gst registered then should I use out of scope or gst free code? Thanks
I only with with US version so I don’t know anything about GST
Your videos are very helpful thanks Hector. I have a company with three different businesses under the main company. I would like to see the P&L and Balance Sheet separately for each of these companies separately how should I set up this on QB Online. Thanks so much
Classes or Locations: czcams.com/video/KUY0KjKCofU/video.html
@@HectorGarciaCPA
Thanks so much, Hector your videos are extremely useful and easy to understand.
Thank you Hector! Is there a way to reclassify sales transactions that are not invoiced (in our case credit card transactions)? We have a bunch of transactions that we classified as Sales when they should have been classified to a Subaccount of Sales.
Should be able to if there were accounts used, and not item.
Even better than cat videos.
Phoenixspin true
Bro, i was sketch on the thumbs up, but like you said you guaranteed it...i waited not gonna bullshit, but yep you were right. Very helpful video, thanks
Jeremy Locklear he he, thanks.
Hi Hector, how do you remove/change expense categories?
Thomas Wheeler in the chart of accounts
How do you record inter company transactions for bank transfers ?
Hi Hector, I was hoping to see how to change Example a credit card that was setup as a Bank.. the whole acct. Your video's are useful, thank you.
its on the list of TODO
@@HectorGarciaCPA Hi Hector, first time I've ever watched one of your videos. I'm only 24 seconds in and already hit "Like" AND you've got me laughing instead of crying over the mess I am trying to figure out how to fix!!! LOL, Bless you!! I'm trying to figure out how to correct 19 months worth of credit card payments which were ADDED to a Chart of Accounts Credit Card instead of having been set up as a Credit Card Account (feed or manual entry). Anyway, not sure if I'll be able to figure it out, but thanks for the laugh, and I did give it a thumbs up :)
DeMe Srvl hehe... I still don’t understand the problem you have. Could you send me a screenshot? In theory the purpose of this video is to help you solve that.
Great video. As always. I use desktop but nevertheless, watch the online videos as well. Can I batch reclassify in desktop? I couldn’t manage to do it.
Thank you.
You need QB Desktop Accountant to do reclassification (Pro/Premier don’t have tat feature)
Hector Garcia CPA
Thank you. No wonder I couldn’t figure it out. Look forward to more of your videos.
Awesome video!! Can "Transactions Type" be changed?
No
How do you enter income on budget sheet , or edit the budget sheet.
Don't forget entry in description box for Journal Entry (audit trail not only for yourself, but anyone else that looks at the books to describe reason for journal entry reclass) 😊Thx
Chris Smith yes.. should have mentioned that
Hector el contable vino y borro todas las reconciliaciones habrá una forma de recuperarla?
Hi Hector, amazing video tutorial, thanks so much for this! I can no longer filter by category in the Expense tab however, do you have any idea what happened in the 2019 version and how I can achieve the same thing? Thanks so much!
You should be able to... I am not sure why you are having this issue
@@HectorGarciaCPA thanks for your fast response! The option simply doesn't show up, I looked it up through Google and there is a question asked on QuickBooks website where the representative mentioned that it's not possible to do so at the moment. This question was asked in 2018 I believe, I can post link if it helps. Let me know if you have any other ideas why this is. I can always use journal entries if I need to, thanks again!
@@HectorGarciaCPA Hello Hector, my last reply didn't seem to have gone through. The option simply doesn't exist for me, I looked up on Quickbooks community and there was a question posted regarding this. The representative mentioned that you can not sort by category at the moment. This question was asked in 2018, if you have any ideas about the current version and how to get this to work I would very much appreciate it! If not, I can always go for journal entries. Either way your video has helped a lot :)
David Kuo wow.. I use the accountants toolbox, so didn’t even notice this not working anymore
@@HectorGarciaCPA No worries! Thanks anyway, I went with the journal entries :)
Hi hector,
Thanks for the wonderful video.
I have a question.
Is there a way to reclassify split transactions by 3rd method?
Thanks.
Not with splits
@@HectorGarciaCPA ok. Thanks!
I am using QB Desktop Pro 2019 and most of my company transactions are done in foreign currency. When I am printing the Journal Entry for a foreign currency transaction it only show transaction in local currency. Is there a way to add currency column in printed Journal Entry. Thanks in advance for your effort.
Local only
Great video. I am still puzzled by Intuit in terms of Location and Classes. So, with Classes you can run all reports except for any AR & AP report. Hmmmm. So, we have been using Location instead of Class where we can, so we can have full reporting. Of course, when using Reclassify, you can't Reclassify Location. Go figure. Is there something I am missing here, as to why Location and Class would not be universally available in reporting and reclassifying?
Non Disclosed oh man.. you are preaching to the choir.. is something that frustrates me. It’s not clear which ones are available on reports or not... so unfortunately it is the issue at the moment, In theory, classes should be the “most available” in reports and functions... so I would start using classes, if you need a second dimension, move to locations.
With invoices that we deleted. Then re entered with different amounts due to procc fees. How can i reconcile? The invoices that were deleted were incorrect,but tyeres a big gap im balances between bank acct and qb account
Hi Hector, I'm hoping you can help me. I accidentally set up employees as a 'supplier' in error and have several months to go back to correct. How can I change the payee to an employee category rather than a supplier as previously set up ?
Hi Hector, thank you for sharing this video. One of my clients has posted expenses as grocery, all his personal expenses how do I classify those expenses.
Zara Mirza put them into an equity account called “personal expenses”
Hector Garcia CPA Thank you Hector
Good morning Hector, one of my client borrowed a loan does she need to open a new bank account to deposit or she can deposit in the same existing bank. She will be repaying back. And how do I categorize the loan account
hit like...done
Hi Hector how do I change Credit card credit to expense under the type column?
You can’t.
Can I change the transaction after the account was reconciled?
Hello Hector, may I use the same license for both my wife's business and my own? We have business accounts at separate banks.
Jason Sandford QuickBooks online requires one subscription per company.
QB Desktop allows unlimited companies with the same license
How do I batch & reclassify transactions in desktop pro 2019 that need my REVIEW? I can't seem to batch them and can only reclassify them one by one. Th.U
Carol Simone not possible with Pro
hi Hector Sir,
i am new to quickbook online asi started from inventory and after that i delete it showing in equity opening balance account please helo in this i want to zero all account balances
Hi Hector! I do not like this video.....I LOVE IT!! It's so helpful. Thank you!
Haha thanks
I created long term liability on COA but do not know how to create to pay this loan. What category you will assign a payment to long term loan account.
The same account as it
How do you re categorize to batch categorize expenses in the register? I uploaded from pdf for 2016 and I have thousands of transactions that need to be properly categorized with the proper expense category. How can I do that multiple at once instead of one by one? These transactions dont show under "Banking" they are showing in my "Bank Register" which can also be navigated to by clicking Accounts --> Chart of Accounts then selecting my bank account. Thanks!
MindApplication the video explains how to do it.
Me encanta tu manera de plantear y explicar pero mi Inglés es pobre; que bueno que pudieras explicar todo esto en español.
Hay muchas Empresas de Latinos aqui en USA que estarían felices.
Nancy Diaz si.. el problema es que no tengo el tiempo de hacer las dos.. tenemos otro canal que se llama “expertos en QuickBooks - en español” donde vamos a montar contenido... pero ya a llevar tiempo. Si quieres adiestramiento privado llámame a la oficina
So Hector - I need to reclasify the Type - I am looking at 2018 transactions, and some credit card payments got marked as Expense instead of a transfer. How can I fix this?
john L cannot be done
Hello Hector, If your transactions in accounts are already reconciled - Can you change expense category so it will not affect reconciliation ?
Marek Konopka yes.. it doesn’t affect reconciliation
can you point me to how i can correct a recording of a receipt on an invoice to the wrong customer
Just change the customer name in each sales receipt.. there is no batch tool
Hi Hector, is there a way to cc/bcc myself if sending statements to clients overdue accounts?
+Teddy Ramos yes you can add your email in the BCC box
Hi Hector, I can see the cc/bcc if sending invoices but not statements.
Teddy Ramos then is not there /(
Thank you, i have a question can you reclassify transactions after reconciliation, if you missed something and you need reclassify.
Yes you can
@@HectorGarciaCPA thank you very much, i fixed my problem:) you're my hero, i would recommend everyone to watch your videos, very helpful and one day i will be like you! And help people too. Thank you!
You welcome