How do I record inheritance income in Quickbooks?

Hi ABCfinance,

Thank you for being part of the QuickBooks Community and for reaching out with your question. Recording an inheritance income can be looked at in different ways. I have a few articles that you can review. However, I recommend reaching out to your accountant as they are the best ones to advise you how this should be recorded. If you don't have an accountant, you can find one through this link: Find an Accountant.

Depending on the circumstances of the funds coming into the business, here are a few possible options. If the money is considered revenue, it could be entered as sales such as described in this article: Record your total daily sales. If the funds were inherited by the owner and invested in the company as laid out in the steps of this article: Record an owner's contribution or capital investment in your business. The inheritance may have been received as a donation or contribution. It may be entered in the matter explained in this article and post: How to record donations or charitable contributions; How to record income donated. Talking to your accountant can help you choose the best method for your business to enter the funds.

Please reach out if you have any other questions. Have a great evening!