How to record the interest received for bank accounts

If you earned interest, you can easily record it in QuickBooks Online using the Bank Deposit feature. You can track the interest from bank or savings accounts, investments, or interest payments to you on loans your business made. Here are a few simple steps to record your interest earning.

1. Follow this link to complete the steps in product
2. Select New account to create a new interest account.
3. From the Account type ▼ dropdown, select Other Income. 
4. From the Detail type ▼ dropdown, select Interest earned. 
5. In the Account name field, enter any name which is applicable. 
6. Select Save.
7. Select + New.
8. Select Bank deposit.
9. Under Add funds to this deposit, select the customer’s name who paid the interest, then select the interest account you just created.
10. Enter a description, payment method and amount, then select Save and close or Save and New.
11. On the Dashboard, you can notice that the deposit has already been recorded under Bank accounts.