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September 5, 2023
Question

How do you log in a state pension into my business account

  • September 5, 2023
  • 1 reply
  • 0 views
i have a business account and  im at pension age now .how do Irecord this as it gets paid into same account

1 reply

September 5, 2023

I know a way to record pensions in QuickBooks Online (QBO), Thomas. 


Pensions are generally considered a form of income. We can make a bank deposit to record this in QuickBooks Online (QBO). However, we can't tell what Income account to choose.

 

Here's how to create a bank deposit: 

 

  1. Go to + New option.
  2. Click Bank Deposit.
  3. In the Account drop-down menu, choose the account where you got the refund.
  4. Fill in the needed fields.
  5. Click Save and Close

 

To ensure you select the accurate Income account, I'd recommend reaching out to your accountant. If you don't have one, you may use our Find an Accountant tool. 

 

For additional reference, I've attached some articles you can use to learn more about the pension setup:

 

 

Keep your post coming if you need more assistance in recording pensions in QuickBooks. I'm always here to help. Have a good one!