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Patrick Cox
May 10, 2024
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Bank interest

  • May 10, 2024
  • 2 replies
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How do I record bank interest in a bank account that cannot be linked to Quickbooks. I managed to do it three times without problem using the "New" and "Bank Deposit" menu but then when I tried to do it again, I was presented with a completely different menu which doesn't accord with what I need e.g. making entries about "cash back". There doesn't appear to be anywhere to enter the actual amount of the deposit. See attached menu which now comes up.

Best answer by GeorgiaC

Hi Patrick Cox, thanks for reaching out to the Community

 

We'll be happy to share some insight on recording bank interest earned in QuickBooks Online. 

 

It's correct that you can record this using a Bank deposit, with the bank account that the money was received into selected in the Account field. 

 

To enter the amount and account details (used for tracking the bank interest), click the arrow to expand the Add funds to this deposit line. 

 

You can leave the cash back fields empty, since these don't apply in this scenario. 

 

If you need any further guidance, please don't hesitate to get back in touch below. Have a great day. 

2 replies

G
GeorgiaCAnswer
May 10, 2024

Hi Patrick Cox, thanks for reaching out to the Community

 

We'll be happy to share some insight on recording bank interest earned in QuickBooks Online. 

 

It's correct that you can record this using a Bank deposit, with the bank account that the money was received into selected in the Account field. 

 

To enter the amount and account details (used for tracking the bank interest), click the arrow to expand the Add funds to this deposit line. 

 

You can leave the cash back fields empty, since these don't apply in this scenario. 

 

If you need any further guidance, please don't hesitate to get back in touch below. Have a great day. 

    C
    Clive 12
    May 13, 2024

    To input interest do I input no vat excluding the amount from a vat return or input as exempt sales?

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