I have an issue with Quickbooks interpreting my bank transaction history incorrectly. I am using third party payroll processing that charges my bank account biweekly for 3 charges: Tax liability, Direct deposit for employees and processing fee. Online banking shows these transactions as credit:
Tax liability $(1500.00); Direct Deposit $(6,000.00); Processing $(200.00). When it imports to the quickbooks my transaction history comes up as follows:
Tax liability -$1500.00; Direct Deposit $6000.00; Processing -$200.00. During the sync, QuickBooks changes credit type of transaction to a debit type of transaction. Now this presents issue in tracking my payroll expenses. From my bank, during payroll i spend $7,700, however if i run P&L in QuickBooks, it shows that i MAKE $4900 in payroll.
How we can fix this unintended transformation from credit to debit when the transaction comes into QuickBooks?
Thank you
