Saturday, October 24, 2009

How do i enter interest (credit) to my bank account in Quickbooks?

I have a savings account and it generates interest monthly, but when i go to enter it in quickbooks, i am not sure if it is a deposit, and if so, what do i put in the "From Account"" under make deposits. Make sense?
How do i enter interest (credit) to my bank account in Quickbooks?
Yeah, open the savings account register, go to 'banking: make deposits' and select 'from acccount' and add new - income and call it 'interest income' the memo can be 'monthly interest payment' the tender type is cash and enter the amount, then save and close. Actually before you close memorize the account so you dont have to re-do it every month, you can set it to remind you to deposit since the amount will be different.
Reply:I used to just show it as a deposit. The I would type in "Bank Interest"

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