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Valpaige
May 6, 2021
Question

Recording Customer Transactions

  • May 6, 2021
  • 1 reply
  • 0 views

Hello,

 

I need some help.  I have a question about a company that's in retail.  This retail business is quite small and offers other services like customers opening up an account like a savings account.  The customer opens up an account, they deposit their money into this account and once they have saved enough, they are issued a cheque for the amount that is in their savings account.  Sometimes they charge their accounts with purchases made in the store.  How do I properly record transactions for a customer that deposits money into their account?  I'll list some transactions as an example:

 

Customer 1234   

Transaction 1:        Deposit to savings $150 made on April 1, 2021

Transaction 2:        Deposit to savings $100 made on April 10, 2021

Transaction 3:        Bought groceries for $25 on April 14, 2021

Transaction 4:        Deposit to savings $200 on April 15, 2021

Transaction 5:        Store issues a cheque for the balance on account $425. 

 

Customer's beginning balance $0, Customer's ending balance $0

 

I need to record transactions 1, 2, 4 & 5.  Help?

1 reply

T
Tammy_H
May 6, 2021

Hi Valpaige,

 

I know how important it is to get all your transactions entered correctly. QuickBooks Desktop is a robust program with many options. I can guide you to the support you need.

 

I can help with the process of entering the transactions. Here are a few articles on how to record several types of entries:

For assistance with what to record, I suggest you contact your Accountant. They're specialists in their field and will be familiar with how you have your accounts set up. If you don't have an accountant that you currently work with, you can find one that works with QuickBooks by checking out this link: Find an Accountant.

 

I'd be happy to answer any QuickBooks-related questions. Have a great day!

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