Have questions about what to do to prepare for tax time? Ouryear-end hubwill walk you through the process. Find out how to upgrade your subscription, manage your password, view account fees, request a refund, and much more on ouraccount management page.
How do I record a deposit from the banking screen? It appears to only allow you to record items as an expense, but what do I do with the money coming in?
Welcome to the community family! It's great you're using the Bank Feeds feature in QuickBooks Online to automatically download your transactions. I know how important it is to properly categorize these transactions in your books. I'll be happy to assist you with this.
After you connect your bank or credit card account in the program, QuickBooks automatically download your recent transactions in the For review tab. Based on your bank statement layout, transactions amount are either classified under the Spent column (for money out) or the Received column (for money-in). When trying to categorize a Spent transaction, the Transaction type will either be an Expense or Cheque. If you do so for a Received transaction, you'll have the option between Deposit and Sales receipt in the Transaction type drop-down. To learn more on how to categorize your transactions in the system, check out this useful article: Categorize and match online bank transactions in QuickBooks Online
I hope this helps to clarify things for you! Feel free to stop by if you have more questions.