savings money set aside

I'm glad you chose QuickBooks to help run your financials, @aeromissions,

Let's make sure your funds are coded correctly in QuickBooks. If you don't want to use classes for the savings, the Location tracking can help tag information from different sites, offices, regions, outlets, or departments of the same company.

By the time you pull up the reports, you can filter the transactions by location. He're's how to use this feature:

1. Tap the Gear icon and select Account and settings.
2. Go to Advanced then click on the Categories section.
3. Mark the box beside Track locations.
4. Choose a Location Label you want.
5. Hit Save then Done.

When creating transactions, fill in the Location field. See this sample screenshot:

To help you further with your tasks and practice in QuickBooks, consider visiting these Community hubs:

• Help Articles for QuickBooks Online
• Video Tutorials for QBO.

Let me know how this answer helps or if you need further assistance. I'm always here to assist you. Have a good one!

Thank you for your response. Is there a way for me to actually "move" money on paper within QBO so that I can quickly see what money has been set aside? For example, I wondered if using sub-accounts under my bank account would be a possibility.

Let me re-word my question this way. We have money in our account that needs to be set aside every month. The money is already in our bank account and based on a specific calculation. We have to save some of that money every month (different amount each month) for future expenses. How do I do that?

Thanks for clarifying things out, aeromissions,

Your bank account in QuickBooks Online should match with the entry on your actual bank. That being said, you can create a journal entry. This will help you:

• Enter debits and credits manually, like in traditional accounting systems.
• Transfer money between income and expense accounts.
• Transfer money from an asset, liability, or equity account to an income or expense account.

Let me show you how:

1. Click + New.
2. Select Journal entry.
3. If you're in Business view, switch to Accountant view first, then come back to these steps.
4. Fill out the fields to create your journal entry.
5. Select Save and new or Save and close.

Upon sharing this solution, I still suggest consulting your account. He/She might have specific instructions on how to manage this entry in QuickBooks.

If you don't have an accountant, get a QuickBooks-certified bookkeeper to categorize transactions. And, reconcile your bank statements every month so your books are always 100% accurate. Learn more about QuickBooks Live Bookkeeping to help maintain your books.

Stay in touch if there's anything else you need. I'm always right here to help.

Thank you and stay safe!

Hi - did you come up with a good solution for accrued funds?  I'm trying to do the same thing you were, but QBs doesn't seem to have a good solution...  I'm curious to know whether you found a good fix for this.

May I suggest you try YNAB. 

I don't work for , am not affiliated with nor do I get paid by them.

But I have been using YNAB for many years when they were still a small desktop app before they were web based. It's reasonably priced and the best budgeting software I ever used.

While it's targeted towards personal budgeting, a number of people also use it for business. 

It is based off zero based budgeting and from I can tell, it may serve your needs regarding putting money aside for future expenses or capital expenditures. In YNAB those would simply be additional "Budgeting Categories" that you allocate your funds where you need. And they stay there rolling over each month until you take them out by reallocating them to other categories, transfering them or spending them as needed.

eg:  Payroll, Repairs, Utilities, Future Expenses, etc

There's a free trial so you may want to at least check it out. And you can create as many separate budgets as you need. No additional costs.

www.ynab.com

https://www.youneedabudget.com/calling-all-freelancers-and-small-business-owners-heres-a-simple-way-...