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November 15, 2022
Question

logging non sales related venmo deposits

  • November 15, 2022
  • 1 reply
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How do you log personal payments into your Venmo account when they are not associated with a customer or a sales transaction?

 

1 reply

November 15, 2022

Hi there, smcquade71.

 

Welcome back to the QuickBooks Community. Let me discuss how entries work in QuickBooks Online. Then, ensure you can handle payments into your Venmo account smoothly.

 

The downloaded data in QuickBooks Online depends on what your bank shares with us and how they're posted online. If you're referring to recording personal payments from the Banking page, you have the option to categorize the entry to a specific account that isn't sales/income/revenue. Then, make the Vendor/Customer field empty.

 

Here's how:

 

  1. Click the Banking menu on the left panel. Then, choose the Banking section.
  2. Go to the For review tab. Then, select the particular transaction and click it to expand the page.
  3. Click the Categorize radio button and choose account on the Category field. 
  4. Click Add or match to save the details.

 

However, if you mean to manually enter the said entries into your Venmo account and they are not associated with a sales transaction, record this as Journal Entry. This way, you can transfer funds from one category to another. While doing this, I suggest consulting an accountant. They'll be able to provide you with suggestions on how to properly handle the transactions, especially with the account to use for the debit and credit.

 

Lastly, you may refer to this article to view information on how you can reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.

 

Don't hesitate to click the Reply button below if you have other concerns about recording your transactions in QBO. I'm always here to help, smcquade71. Have a good day!