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Good evening, @sales139.
Before following my suggestion, I recommend reaching out to your accountant before making any changes to your books and seek their advice on what's best for your Company.
I'd create an account to help categorize this transaction in your QuickBooks Online account. I've provided steps below on how to do this with ease:
Once completed, make a bank deposit and categorize it under the account created above. Here's how:
3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
4. Pick the name of the payee in the Received from field.
5. Select the insurance account created above in the Account field.
6. Enter the Amount.
7. Hit Save and close.
Let me know if this works for you! I'll be here if you have additional questions or concerns.