QuickBooks®Online Tip: How to Categorize Bank and Credit Card Transactions

Once you have downloaded your bank and credit card transactions into QuickBooks® Online QBO, view them by clicking “Banking” on the left column of your dashboard. It’s important to recognize that it’s not until the transactions have been put into their respective income or expense category (as dictated by the chart of accounts) that the amounts will show up on any of the financial reports.

By going through and categorizing purchases and deposits to the correct account and by adding a ‘payee’ as well as a description for repetitive expenses, not only will it make categorizing future transactions automated and very convenient it will reduce the amount of data you’ll need to enter.

Watch this tutorial to see how to categorize bank and credit card transactions in QBO (YouTube 4:07)


ProFound Impact is a division of Bellingham, WA based Business Support Services Northwest, LLC.

Disclaimer: Always discuss financial, business, tax and accounting matters with a CPA and/or accounting professional. The above is general information only and does not replace legal or professional accounting advice.
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