Hello there, Julie. Adding bank interest in QuickBooks Online (QBO) is best done using the Bank deposit feature, which ensures your register balance matches your bank statement.
To do this, create an account to track interest income and record the interest deposit.
Here's how:
- Navigate to the Gear icon and select Chart of accounts.
- Click the New account.
- Set the Account Type to Other Income.
- Set the Detail Type to Interest Earned.
- Name the account (e.g., "Bank Interest Income") and click Save.
Once done, you can now create a bank deposit.
- Select + Create.
- Select Bank deposit.
- Under the Account dropdown, select the bank account where the interest was deposited.
- Enter a description, payment method, and amount, then select Save and close.
- On the Dashboard, you can notice that the deposit has already been recorded under Bank accounts.
We'll provide ongoing assistance if you have any further concerns.