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January 24, 2023
Question

Recording an atm withdrawal

  • January 24, 2023
  • 1 reply
  • 0 views

If I made an atm withdrawlal from my business account how do I record that in quickbooks

 

1 reply

January 24, 2023

Hi Smcdc229, thanks for joining the Community - you can record this by creating a transfer to a cash account. If you don't already have a cash account created, you can set this up by navigating to the Cog > Chart of Accounts > New > Select the account type 'cash at bank and in hand', detail type 'cash on hand' and save. To create the transfer, select + New > Transfer, then enter the date, select the bank that the funds are being withdrawn from under 'Transfer funds from' and the cash account under 'Transfer funds to', and enter the amount and a short memo. You can then select the cash account as the payment account on an expense transaction if this money is used for a purchase. 🙂