why does transaction date is automatically being picked as 01/01/1970, even though the payment date is correctly recognized.

This issue often occurs because of incorrect format of the transaction date in your CSV file when importing data in QuickBooks. In many cases, 01/01/1970 is a default value used when QuickBooks is unable to interpret a valid date, thewni.

You'll have to make sure that the transaction date in your CSV file matches the expected format. I've added a screenshot for your reference:
 

Once you have the correct format, it will eventually show the correct date. See below:

To correct the transactions that is picking up the 01/01/1970 date, you can exclude them and re-import again with the correct date format. To exclude, follow the steps below:

1. Go to the Pending tab.
2. Select the checkbox of the transactions to exclude.
3. Click Exclude.
   

If you have any other questions and need clarification related to the transaction date or any other aspect, please let us know. The Community team is always here and happy to help you at anytime.