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fusé-Osaka
Level 3

Cash Deposit from Director to the company

Hi,

 

I need an advice on Director's Loan Account, please.

 

While I was reconciling my bank transactions, I noticed some of cash deposits from myself/director's personal fund to my business bank accounts ware entered as "Deposit" to match bank feeds.

But others were journal entered. 

Is it okay to leave them as they are or do I need to change all "Deposit" entry to Journal entry?

I appreciate if someone can advice me on this.

Solved
Best answer February 21, 2021

Accepted Solutions
Kristine Mae
QuickBooks Team

Cash Deposit from Director to the company

Let me address your concern, Fusé-Osaka.

 

You can leave them as deposits. As long as the transactions are correctly categorised, there is no need to change anything.

 

I'll share this article to help you with reviewing the downloaded transactions: Categorise and match online bank transactions in QuickBooks Online,

 

As always, we suggest conferring with your accountant to help you with checking the categorisation.

 

Reach out to us if you have other concerns. We'd be please to work with you again. Take care!

View solution in original post

2 REPLIES 2
Kristine Mae
QuickBooks Team

Cash Deposit from Director to the company

Let me address your concern, Fusé-Osaka.

 

You can leave them as deposits. As long as the transactions are correctly categorised, there is no need to change anything.

 

I'll share this article to help you with reviewing the downloaded transactions: Categorise and match online bank transactions in QuickBooks Online,

 

As always, we suggest conferring with your accountant to help you with checking the categorisation.

 

Reach out to us if you have other concerns. We'd be please to work with you again. Take care!

View solution in original post

fusé-Osaka
Level 3

Cash Deposit from Director to the company

Thank you very much for your advice!

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