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vicki41
Level 1

How do i add interest income to my saving account?

 
1 Comment 1
Angelyn_T
QuickBooks Team

How do i add interest income to my saving account?

Welcome and thank you for taking the time to reach out to us here on the Community page, @vicki41.

 

We have a couple of ways to add the interest income to an account in QuickBooks Online. I'm happy to share them with you. 

 

First, you can create an income account (interest income), record a deposit for the amount using the interest income account as the source account for deposit. 

 

To create an account:

 

  1. Open your QuickBooks Online account, then go to Accounting at the left pane.
  2. Select Chart of Accounts.
  3. Click the New button beside Run Report.
  4. Choose the account type and detail type, then enter the account's name.
  5. Tap on the Save and Close button.

 

To record a deposit:

 

  1. Go to the New (+) icon, then select Bank deposit under Other.
  2. Choose an account where you want to add the amount under the Account section.
  3. Go to the Add funds to this deposit section, then pick the interest income account under the Account column.
  4. Fill in the rest of the details, then save the transaction.

 

The second option is to enter the amount when reconciling your bank.

 

Here's how:

 

  1. From the Gear icon, select Reconcile under Tools.
  2. Select the account you want to reconcile, then enter the amount for the interest income under the Interest earned section.

 

Once done, you can tap on the Start reconciling tab to proceed with your reconciliation. For additional references about reconciling an account, feel free to read these articles:

 

Also, you can visit this link and open the topic you want in case you need tips while working with QuickBooks in the future.

 

Please know that I'm a few clicks away if there's anything you need assistance with. Just add a comment below. Keep safe!

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