Can some kind soul tell me how to record interest received from my bank?

Thank you for reaching out to the Community, stevesandford. I'm here to assist you in recording the interest you received from your bank in QuickBooks Online (QBO).

To begin with, you can create a new interest account and post the amount as a deposit to track the interest from a bank or savings account.

Here's how to create an interest account:

1. Go to the Transaction and click Chart of Accounts.
2. Click on New. 
3. Under the Account Type column, select Other Income. 
4. In the Detailed Type, choose Interest earned.
5. Tap Save and close. 

Once you have completed the above steps, follow these instructions to create a bank deposit: 

1. In the left panel, select + New.
2. Click Bank Deposit.
3. Under Add funds to this deposit, select the customer’s name who paid the interest, then select the interest account you just created.
4. Type a description, payment method and amount.
5. Select Save and close.

Additionally, you can reconcile your accounts so they always match your bank and credit card statements.

Keep us posted if you have other concerns in recording your interest and other QuickBooks-related. I'm always here to help. Have a great day!

Good day,

I have the same question, but for QBD (quickbooks desktop) 

I am unable to find anything for QBD on the internet.

I would really appreciate if someone can help me.

I appreciate you for reaching out the us, @Destarte.

Let me share with you the simplified steps in recording the interest you earned in QuickBooks Desktop. No worries, it's super easy to do using the Make Deposits feature. Ideally, you can track interest from your bank, savings account, investments, or even interest payments to your business. Just follow the detailed steps below and you'll be good to go:

1. Go to Banking and select Make Deposits.
2. Select New to create a new interest account.
3. Under the From Account column, select Add New on the drop-down option.
4. Tick the Income radio button under the Categorize money your business earns or spends.
5. Next, tick the Other Account Types radion button. Then, select Other Income under the drop-down option and click Continue.
6. Enter the name of the Bank in the Add New Account page and fill out the necessary information, then select Save and Close.
7. On the Make Deposit page, select the Bank account under the Deposit to field drop-down.
8. Select the newly created account type under the FROM ACCOUNT column drop-down option.
9. Enter the received amount under the AMOUNT column and fill out the information in the required fields.
10. Finally, select Save and New.

By following these steps, you can effectively track and record the interest you earned in QuickBooks Desktop.

Additionally, you can check out these articles to get additional insights and information on bank deposits and bill payments related to your concern: 

• Record and make bank deposits in QuickBooks Desktop
• Void or delete a bill or bill payment cheque in QuickBooks Desktop

Feel free to comment below for more questions about other banking-related topics in QuickBooks Desktop. I'm sure to help anytime. Have a great day!