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Established Member

interest entries in savings

Interest in savings account is recorded from bank download as a payment and a deposit, leaving the balance unchanged.  How can i fix that 

2 Comments
QuickBooks Team

Re: interest entries in savings

Thanks for reaching out to the QuickBooks Community, tbredtreasurer.

 

When recording an interest in QuickBooks from the bank account, make sure to select the correct account since this might be the reason why the balance is incorrect. You may consult with your accountant if what account you need to use to ensure your books are accurate.

 

However, if you've selected the correct account and the balance still incorrect, you can do a reconciliation to make sure that the balance is matching from what should have from the bank account. 

 

You can download this link to check the detailed steps on how to reconcile an account. On your keyboard press Ctrl+F and search Reconciliation: https://qblittlesquare.com/2018/09/quickbooks-mac-2019-users-guide/

 

Please let me know how it goes. I'll be around to help if you have additional questions. Have a good one. 

Established Community Backer ***

Re: interest entries in savings

This happens when the from and to accounts are the same, correct the from account.