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Is there anyone who knows how to record investment income in QuickBooks. I have no idea about this how to do this. Help me.
Level 1874 Point Active 2 days ago
Investment income is the money you receive because of an increase in the value of your investment. This includes collectible items, real estate, funds, bonds, stocks, and earnings from interest income. Quickbooks enables you to set up various kinds of accounts.
This will not only enable you to classify related transactions but also helps you allocate investments. In this guide, you will learn how to record investment income in Quickbooks together with standard requirements, which you need to set up before recording an investment income in QuickBooks. If you wish to get the complete information, then read the entire tutorial.
a) Launch QuickBooks and then select Vendors by going to the Expenses section.
b) After that, choose the New vendors option.
c) Now, fill up the form by entering the details and then select Save.
a) Go to Quickbooks Settings and select Chart of Accounts.
b) Select new and then from the Account Type section, select Equity from the drop-down menu.
c) After that. select the drop-down list for details and select from Partner's Equity and Owner's Equity options.
d) Select a name for your account and Save it.
a) Select the option of Create and then choose Bank Deposit by going to the Others tab.
b) Choose the bank account by going to the drop-down list of Accounts.
c) Enter the date when the funds got deposited.
d) Now, go to the option of New Deposits and enter the name of the investor by going to the Received from the field.
e) Select the correct from the dropdown list of Accounts.
f) Choose the right payment method.
g) Enter the exact amount in the Amount section.
h) Select Save and then close.
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Level 1 Active 2 hours ago