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Level 1

How do I enter revenue (checks, cash, transfers and credit card purchases from customers) into my business checking account?

 
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QuickBooks Team

How do I enter revenue (checks, cash, transfers and credit card purchases from customers) into my business checking account?

I'm happy to see you here in the Community, @lepecellars.

 

Entering revenues into your business checking account will depend on the transactions that you want to track.


Let's start with checks. If these are for invoice payments, you'll need to record them using the receive payment process. This way, you'll be able to deposit the amounts under your business checking account.

 

You can visit this link on how to perform the process: Record Invoice payment in QBO

 

For cash transactions, you can use the sales receipts if you receive full payment at the time of the sale. This includes payments by cash to be recorded on your income account.

 

Just click on the Plus Sign (+) and choose Sales Receipt, which will record the payment. Once done, you can use the Bank Deposit function to increase your income account. 

 

To record a bank deposit:

  1. Click on Plus menu (+) and choose Bank Deposit
  2. Choose the bank account to which you wish to deposit funds.
  3. Select the transaction you want to deposit in the Select Existing Payments section.
  4. In the Add new deposits table, add any additional items to include in the deposit. 
  5. Click on Save and Close or Save and new.

For more details about this procedure, please refer to this article: Create Sales Receipts in QuickBooks.

 

When it comes to fund transfer, you'll need to track them using the Transfer feature in QBO. This way, you can create a transfer between two accounts using Transfer, Check, Imported Bank Transactions, and Journal Entry. Here's a reference that you can visit for more details: Transfer funds between accounts.

 

Lastly, for credit card purchases, you can record them the same as receiving payment for invoices. Since credit card purchases are one way of paying sales transactions in QBO. Just make sure to select the right payment method in doing this.

 

I'm also adding here a link that contains information about the Accounts Receivable workflow and some helpful articles on how to navigate QuickBooks Online:

Know that I'm always available to help if there's anything else that you need. I'll make sure you're taken care of. Have a good one!

Highlighted
Level 1

How do I enter revenue (checks, cash, transfers and credit card purchases from customers) into my business checking account?

I have a deposit of $795 for 5 credit card payments and 1 AHC payment. I can't match the amount because the ACH payment isn't showing up. 

Highlighted
QuickBooks Team

How do I enter revenue (checks, cash, transfers and credit card purchases from customers) into my business checking account?

Hi there, Hollyintuc

 

Please know that some banks don't post transactions until at a later time or the next day. QuickBooks automatically downloads the latest available transactions every night around 10 PM PT. I'd recommend waiting for the ACH payment to be downloaded.

 

Alternatively, we can perform a manual update to get bank transactions. I'll show you how: 

 

  1. Select Banking from the sidebar menu, then go to the Banking tab.
  2. Choose the appropriate bank account.
  3. Click the Update button.

If it's still not showing in the For Review tab, you can coordinate with your bank or visit the bank's website to check the status of the transaction. Then, consider manually uploading the payment into QuickBooks Online.

 

Once you're done, we can now start matching and categorizing the transactions.

 

If you're about to reconcile your account, I encourage reading our guide to help keep your accounts accurate.

 

I'm just a post away if you need additional assistance in completing your tasks with QuickBooks. Stay safe and have a great rest of the weekend.

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