The bank downloads put a lot of the online payments into transfers, then there is no way to allocate them to expenses or income, only balance sheet accounts?

Hello pat37,

The banking feed is a fabulous feature in QuickBooks Online that can speed up the process of entering your transactions into the program. I want to make sure you're able to take advantage of this time-saver and I'm here to help.

When you have a transaction that comes into the Banking area of QuickBooks Online, the program tries to decide what kind of transaction it should be based on information pulled from the bank. When QuickBooks doesn't get it quite right, you're able to click the transaction to expand it for editing, where you can change fields to make it the kind of transaction you need.

Give this a shot. When it opens, select the drop-down menu where it says Transfer and change it to what you need. Then you should be able to select the related accounts. You can learn more about these processes here: Categorize and match online bank transactions in QuickBooks Online

If you're not seeing those options or would like a hand with this process, feel free to get in contact with support. There are a few ways to reach us, so pick the option that works best for you to connect one-on-one with an agent.

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Schedule a Callback: click (?)Help in the upper right > click Contact Us > explain your situation > click Let's Talk > choose Get a callback (Note: Callback hours are the same as regular phone hours.)

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I hope that helps!