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gceron
Level 1

CHILD SUPPORT

MY CLIENT RECEIVES  CHILD SUPPORT QUARTERLY  DIRCTLY INTO HER BANK ACCOUNT HOW DO I RECORD THIS IT IS NOT TAXABLE INCOME  ? 

1 Comment 1
IntuitLily
Moderator

CHILD SUPPORT

Thank you for posting in the Community, @gceron.

 

I have just the information you'll need to record the child support payment your client received.

 

In QuickBooks Online, you can record this payment directly by making a bank deposit. Here's how:

 

  1. Select + New.
  2. Choose Bank Deposit under Other.
  3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
  4. Select Save and close.

This is the first step you'll need to record the payment received. Once you're done, you'll need to consult your accountant on how to post this deposit as a non-taxable income.

 

Just in case you need to remove a payment from your deposit, you may check out this helpful guide: Record and make Bank Deposits in QuickBooks Online.

 

Please touch base with me here should you have any additional questions or concerns, I'm always happy to lend a helping hand. Take care and enjoy the rest of your weekend.

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