Friday, April 24, 2009

Entering bank account interest...


Subject: Bank Dividends

I am trying to add in a checking acct dividend that you would receive monthly from your bank.  Do you know how I would add this to my Quickbooks? I am from the US...I think they're a rules in how this should be done.




You are actually referring to Interest income; not dividends.

I can easily think of at least three ways to enter interest income into QB.

1.  You can use a General Journal entry with a debit to the bank account and a credit to the interest income account.

2.  You can enter it with the Deposit window.

3.  While you do the bank account reconciliation, there is a place to enter the interest income, right below where you enter the service charges.

Either of those methods will achieve what you need. Just make sure you use the exact same date for the entry as the bank is showing so that your books will match up with the bank's.  FWIW, I use #3 for our accounts.

Good luck.  I hope this helps.

Kerry Kerstetter