Do you need a manual to group the QBO transactions? If you want to learn how to categorize the transactions you uploaded to the QuickBooks Online software, read the blog until the end. 

When you connect the bank account to QuickBooks Online, you can review the automatically downloaded transactions based on their categories. QuickBooks helps you access the transactions according to their similar groups. To understand more about the topic, carefully read and follow the blog. 

If you need precise instructions for categorizing the transactions or verbal assistance with the procedure, call +1(855)-738-0359 and instantly get the expert’s aid.

How Can You Download the Latest Banks & Transactions in QBO?

For most financial institutions, the transactions can be refreshed by you every 24 hours. Here is how you can manually update the accounts anytime:

1. First, navigate to Transactions. 
2. Then, hit Bank transactions.
3.  Now, hit the Update option. 

Now, the transactions will be updated on all of your accounts. 

Note: If you get further messages for additional transactions, you can follow the instructions on the screen to continue the update. 

How Do You Review and Categorize Downloaded Transactions?

When you encounter a Quickbooks something's not quite right error, you can categorize the online bank transaction in QBO and review the transactions to fix the issue. 

1. Navigate to Transactions. 
2. Now, click the option- Bank transactions.
3. Select the bank account that you will want to review.
4. Click the For review tab.

After completing the above steps, the QuickBooks software will send the downloaded transactions to the For review tab. It will then suggest multiple categories for each transaction. Review them in order:

If the transaction shows Add:

 Choose Add if the recommended category is correct.

 You can change the category by selecting an option from the dropdown menu or creating a new one. 

If the  transaction  shows Review:

 Hit the Review option.

 Now, choose a category or create a fresh one.

If the transaction already exists in the QuickBooks software, you can opt to match or view multiple matches. 

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Select The Correct Category

You can get the money paid through:

1. Sales 
2. Refunds
3. Customer payments
4. Fixed assets sold
5. Money invested
6. Bank loans received  

Categorize expenses:

The money paid to others, for instance, bills spent on:

1. Meals
2. Taxes 
3. Payroll 
4. Fixed assets

Other Categorization Actions

There are also other options that can help you properly categorize your transactions. When you automatically update your transactions after manually uploading them, duplicate transactions may arise, which you can exclude:

1. Navigate to the Transactions.
2. Then, hit the Bank transactions.
3.  Go to the For review tab and tick the checkbox for each transaction you want to exclude.
4. Click on the Exclude button. 
5. Now, the Excluded tab will receive the excluded transactions, not the QuickBooks.

The blog lets the user learn how to categorize different transactions in a few simple steps. Then, there is an explanation of how to download and review these categories of transactions. If you have further queries or doubts about the topic, then dial +1(855)-738-0359 and consult with a QuickBooks professional.

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