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Provision Business Services LLC

A Professional Bookkeeping Firm

Located in Albuquerque, Serving all of New Mexico

505-269-3783

Linking your bank account to your Quick Books file may seem like a great time-saver, but it still requires some oversight to work properly.  One of the frequent complaints I hear about are downloading duplicate transactions.  This happens when you have more than one checking or credit card account linked to your bank.

Credit card payments can cause duplicate transactions.  You get one transaction downloaded when to your checking account when you pay the credit card.  That download posts to both your checking and credit card accounts.  When you download transactions from your credit card account, it likewise downloads the payment and posts it to both your checking and credit card account.  Now you have duplicate transactions.

All you need to do to correct this is to tell Quick Books to exclude one of the downloaded transactions.  So go to your credit card account in the banking section and find the payment there in the downloaded transactions.  Put a check next to the credit card payment and then click “exclude checked transactions”.  This moves the transaction to a different tab called “excluded transactions”.  It no longer shows up in your downloaded transaction list.

If you were to delete the duplicate transaction after you had posted it, you would still have to go back to the banking section and “exclude” the transaction as described above.  Not doing this would keep it in the list of transactions to review in the banking section.

Transferring funds between two accounts that are both linked to their banks also causes the double booking issue.  This occurs whether it’s two checking accounts, a savings account, a credit card account, or a line of credit.

Keep an eye out for these transactions when you are reviewing items that have been downloaded from the bank.