How to record interest earned from an investment account, such as a short term Call Account, into QBO?

Hello there,

I'm here to assist you in recording the interest earned from your investment account on QuickBooks Online (QBO). 

There are two ways to record your transactions in QBO. You may opt to use the online banking feature where the system will automatically download your transactions, and all you have to do is add or match and categorize them. Alternatively, you may manually enter your transactions into the system.

To record the interest earned, you need to create an income account to track it. Here's how you can do it: 

Here's how:

1. Go to the Gear icon at the top.
2. Select Chart of accounts.
3. Click New to create a new interest account.
4. Under the Account Type column, select Other Income. 
5. Under the Detail Type column, select Interest Earned. 
6. Under the name column, input any applicable name, then select Save and Close.

Once you have completed the above steps, follow these instructions to create a bank deposit: 

1. In the left menu, select + New.
2. Choose Bank Deposit.
3. Under Add funds to this deposit, select the customer’s name who paid the interest, then select the interest account you just created.
4. Enter a description, payment method and amount.
5. Select Save and close.

If you want to learn more about the best practices when reconciling, please refer to this resource: Learn the reconcile workflow in QuickBooks.

Please don't hesitate to let me know if you need any further assistance in recording your transactions. I'll be more than happy to answer them for you. Have a great day!