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bcschoolsports
April 25, 2023
Question

If I write a cheque to our second bank, what type of account should I use as a category without affecting our Profit and Loss reports?

  • April 25, 2023
  • 1 reply
  • 0 views
We have opened an account and a credit card with a new banking institution.  We are retaining our current bank as our main bank.    If I write a cheque to our chequing account at the other institution, what type of account should I categorize it to?  It will be deposited at our second bank, and then the credit card  will be paid from there.  All items charged to the credit card will already have been charged to accounts so will already show on our P&L.  Our Quickbooks Bank accounts are not linked to Quickbooks. Should we have an account called Transfer to ***?  What type of account would this be?
Thank you.

1 reply

T
Trish_T
April 26, 2023

Hi bcschoolsports,

 

Thanks for reaching out here.  Ensuring that your transactions are correctly recorded in QuickBooks Online is a key part for keeping your books accurate.  Although you can add accounts to your chart of accounts as needed, I suggest speaking with an accounting professional for their expertise and best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

 

If you have any other questions, please feel free to reach back out.  We'd be happy to help!

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