Recently there has been a problem with transaction download to QuickBooks from CitiBank. Charges we shown as payments and payments as charges. For users who are using downloads to record charges and payments, rather than match previously entered transactions, here is the easiest solution…
I had a good friend call me with a message including the words “HELP!!!!!” and fortunately a screen shot to demonstrate the problem. As you can see below charges we shown as payments and payments as charges.
After a lengthy communication with ProAdvisor technical support it was established that CitiBank was aware of the problem and working on a fix but had no estimate of when the fix would be implemented. Fortunately, there is a reasonably simple way to resolve this issue.
Record all transactions without attempting to correct the entry. When all entries are posted mark the matching process as “Done” to close the process. Only then, can you correct for the reversal of charges and payments. Open each transaction in your register and correct the entry by clicking the appropriate radio button for “Purchase/Charge” or “Refund/Credit”
Robert Guild is certified QuickBooks ProAdvisor in Austin, TX who conducts CPE courses for CPAs and individual training and group classes to QuickBooks users. His company at www.QBCoach.biz, maintains a sixteen-station QuickBooks lab, providing hands-on training. You can contact him directly at rguild@QBCoach.biz or follow him on twitter at QBPro