Skip to main content
February 28, 2025
Question

Manually enter a bank withdrawal for closure

  • February 28, 2025
  • 1 reply
  • 0 views
Hello,
how do I manually enter the final withdrawal for a bank account that was closed early last year?  This bank account was never connected to Quickbooks.
 
I need to know every step please, and exactly what to enter as I am new to accounting.
 
Thank you. 

1 reply

March 1, 2025

I can guide you through the process of manually entering your final withdrawal in QuickBooks Online (QBO), JChambreau. I'll outline the steps below.

 

To begin with, have you already created an account for this bank in QBO? If you've already made one, ensure that the last balance of your bank account matches your bank statement. 

 

If not, you'll need to create an account associated with the bank. Here's how you can do it:

 

  1. Navigate to the Transactions menu and select Chart of accounts.
  2. Select New and fill in the necessary information.

  3. Once done, click Save.

 

You can also refer to this article for more information about the process: Add an account to your chart of accounts in QuickBooks Online.

 

To manually enter your final withdrawal with your bank account in QBO, you'll need to create an expense transaction that matches the withdrawal amount and associate it with your bank account in QBO.

 

Here's how:

  1. Click the +New menu.
  2. Under the Vendors column, select Expense.
  3. Make sure to choose the correct bank account in the CATEGORY Field.
  4. Fill in the exact amount with your last withdrawal transaction.
  5. Click Save and close.

 

Additionally, you can consider visiting this article to help you manage your bank transactions in QuickBooks: Categorize online bank transactions in QuickBooks Online.

 

We're always here to guide you every step of the way if you need an extra hand in manually entering transactions in QBO. Help is only a few clicks away. Keep safe!