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zane_667
Level 1

Does anyone know how to record income protection payments received from a claim through superannuation?

 
1 Comment 1
JasroV
QuickBooks Team

Does anyone know how to record income protection payments received from a claim through superannuation?

Hi there, @zane_667.

 

You can either record this as a bank deposit or enter it as a journal entry. Let me guide how.

 

To record a bank deposit:

  1. Log in to your QuickBooks Online (QBO).
  2. Click the (+) Plus icon.
  3. Select Bank Deposit.
  4. Choose an account from the Account drop-down menu.
  5. Fill in the needed information.
  6. Once done, click Save and close or Save and new.

You can also refer to this article for more details: Record and make Bank Deposits in QuickBooks Online.

 

Then, to create a journal entry:

  1. Go to the Gear icon.
  2. Select Journal Entry.
  3. Fill in the needed information.
  4. Once done, click Save and new or Save and close.

I've got you this article for reference: Create a journal entry

 

Also, I'd suggest checking with your accountant for more suggestions on how to better record this.

 

You can also visit our Manage customers and income page for QBO to learn some tips on managing your income.

 

As always, feel free to contact us if you have other questions on handling payments in QBO. I'm always here ready to help.