CERTIFICATE OF DEPOSIT

I can assist you in enhancing your guidance on depositing cash into a Certificate of Deposit, @eandbevridge-att.

To properly account for a Certificate of Deposit (CD), the recommended approach is to set it up as a separate bank account within QuickBooks. You can then transfer the cash amount from your checking account to the CD account by creating a bank transfer transaction.

Allow me to guide you through the entire process step-by-step:

To set it up as a bank account, here's how:

1. Go to Chart of Accounts.
2. Click the New.
3. Make sure to input all necessary information and label it as Cash on Hand in the Detail Type tag.
4. Then Select Save and Close.

Here’s how to transfer the cash amount:

1. Select + New.
2. Choose Transfer.
3. Click the bank account from which you want to transfer the money in the Transfer Funds From dropdown.
4. From the Transfer Funds To dropdown list, select the bank account that the money is going to.
5. Enter the amount you wish to transfer in the Transfer Amount field.
6. Modify the Date field.
7. Enter a description of the transfer in the Memo field (optional).
8. Select Save and Close or Save and New to complete the transfer.
9. Select Yes if you double-checked the date.

For further advice, I suggest reaching out to your accountant for accurate and personalized suggestions.

For future reference, I've added these links to help you perform future tasks in QuickBooks:

• Learn about the chart of accounts in QuickBooks Online
• Learn about account types and detail types in QuickBooks Online

Please let me know if you need any further clarification or assistance while setting up the CD account and completing the transfer process in QuickBooks.