This greatly skewed the expenses for the year and threw the financial budgets out of whack. This caused all imported transactions that have 66 in the sequence code being booked as Sinclair and being a Gas Expense. Recently, I caught a renaming rule that categorized all items with the term 66 in it to vendor Sinclair and gas expense. When in the Bank Feeds or Online Banking screen (this label varies from QuickBooks 2013 to 2014), click on the Renaming Rules link and then start reviewing the rules that QuickBooks has generated based on your previous imports. Once the Renaming Rules get screwed up, you won't know the scope of the damage until you review these rules. If you aren't careful and you are cutting corners your Renaming Rules can get royally screwed up by clicking Yes or OK without reading what the prompts are telling you. When dumping data in QuickBooks via the bank import the user will get hit up with a lot of prompts and questions. In addition to reconciling each time you download data you should look over renaming rules too. This is when we always have to tell the client that downloading is not reconciling. 'Why would they be off, I downloaded all the transactions' is the response we get when we point out the credit card balance is completely wrong. Every so often we will review a set of books and the credit card accounts are not reconciled. This is why the reconciliation step is so important. When the financial institutions communicate with QuickBooks a lot of information is exchanged and errors do occur. We live in an age where data entry for bookkeeping is getting faster and faster via downloading or importing transactions.

Believe it or not, computers can make mistakes sometimes.

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