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ABHISE24
Level 1

How to simple cash deposit in bank?

How I make an entry in QuickBook  of simple cash deposit in bank? What should I take "the account "? 

1 Comment 1
MarsStephanieL
QuickBooks Team

How to simple cash deposit in bank?

Hi there, @ABHISE24.

 

I'd be glad to assist you with the process of entering bank deposits in QuickBooks.

 

You can enter a Bank Deposit after creating a transaction where it came from. Let's say, it's a deposit from an invoice payment, sales, or from the owner. You can create a check if it's not a transaction from your vendor or your customer. This is the process to track the cash flow in your business. I'll show you how it's done.

 

If you've deposited a sales payment from your customer, you can create a sales receipt before you can proceed to enter a Deposit transaction. Please refer to the steps below:

  1. Select the + New button and choose Sales Receipt.
  2. Enter the details and select Save.

 

If the reason for the bank deposit is because of the invoice payment, you can track the invoice and receive its payment. However, if you wanted to deposit your personal funds to your business, you can either create a check and make yourself as a vendor. Or you can create a Journal Entry, then choose the Equity account against your actual Bank Account.

 

Note: To make the transactions show on the Deposit page, you can use the Undeposited funds temporarily instead of using the actual bank account when handling Accounts Receivable transactions.

 

Here's how to create a Deposit transaction in QuickBooks:

  1. Click on the + New button, then choose Bank deposit.
  2. In the Account field choose the Bank Account where you want to add your deposits.
  3. Look for the transaction you want to deposit and enter the amount.
  4. Select Save and close. This is how it looks like on the deposit page if you have used Undeposited funds account when creating an Accounts receivable transactions: 

 

Also, you can check out this article to know more details on how to record a deposit properly: Record and make bank deposits in QuickBooks Online.

 

I've added this article for your future task on how to avoid duplicate transactions when assessing your QuickBooks transactions and Bank feeds: Categorize and match online bank transactions in QuickBooks Online.

 

Please don't hesitate to let me know if you need further assistance or questions. Just click the Reply button and tag my name to let me know. Take care and have a wonderful day.