Greetings, elizabeth. I can think of a scenario to record the insurance money you received. Let me discuss and guide you through the steps.
You can simply keep track of your desired transaction by creating a bank deposit and allocating it to the appropriate income account. Here's how:
- Click on + New.
- Select Bank Deposit.
- Go to the Account ▼ drop-down, choose the income account you want to put the money into. (I suggest contacting your accountant to ensure the transaction is allocated to the right income account.
- Tick the checkbox for each transaction you want to combine.
- Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
- Hit Save and new or Save and close.
For more details on handling deposits, check this out: Record and make bank deposits in QuickBooks Online.
If you're all set with this, read this extra guide to fix any discrepancies on your balances: Reconcile an account in QuickBooks Online.
Feel free to comment so we can help you further with QuickBooks. I'm always around to assist. Have a good one!
