My client transfers funds between bank accounts. He seems to have classified the transfers out of one account as 'expenses' instead of transfers. How do I change this?

I’ve got you covered, Lisa. I'll guide you through the entire process of changing the transactions from expenses to transfers. This will include reviewing the current transactions, making the necessary adjustments to their classifications, and ensuring that everything is accurately reflected in your records.

Since you mentioned that these transactions were incorrectly classified as expenses, you'll need to Undo them first. Here's how:

1. Select Transactions and choose Bank Transactions.
2. Tap the Categorized tab.
3. Place a checkmark before the expense transactions, then click Undo.
   
   

After doing so, you may now convert them as transfers. Please refer to the steps below:

1. Go to the For Review tab. Locate and place a checkmark before the transactions, then pick Edit.
   
   
   
   
2. In the Type of transaction window, choose Transfer. Then, select the account from the dropdown.
3. Fill in the VAT and other necessary fields.
4. Hit the Apply and Accept button.
   
   
   
   

For detailed guidance on categorizing online transactions in QuickBooks Online (QBO), check out this article: How to Categorize.

The measures outlined above should provide a solid foundation for achieving your goal and ensuring that your data are accurately categorized. If you have additional questions or require further assistance managing banking tasks in QBO, add a reply below. Your inquiries are important to us, and we are committed to providing you with the best support possible.