The income that the business earns from its savings accounts, certificates of deposits, or other investment vehicles is known as the interest income. The financial institution usually sends you a monthly, quarterly, or annual statement that has a separate line item reporting interest earned. The process of how to record Investment Income in QuickBooks comes handy for business users who need to keep a track of the same.
Follow our complete blog to know QuickBooks Investment management or for suggestions and help reach out to QB accountants on 1.800.579.9430.
How to Record Investor Money in QuickBooks with the dividend account?
Go to the Lists menu and then hit Chart of Accounts.
Click the Account button, and then choose New.
Move to the Type field and select Other Current Liability.
Fill Provision for Dividend in the Name field.
Complete the necessary fields in the New Account window.
Tip: It may be required to consult the account to determine the correct Tax Line to use for the Tax Line drop-down list.
Click on Save & Next to create a new Dividend account.
If you plan to use a Retained Earnings account, click on Save & Close. You do not need to create a Dividend Issued account when using Retained Earnings.
Move on to create a new account and select Other Current Expense or Equity from the Type drop-down list, depending on the method used to account for dividends in your business. Type Dividend in the Name field.
Complete the remaining fields, then select Save & Close.
How to Record an Investment Payment in QuickBooks?
To answer How to Record an Investment Payment in QuickBooks we have brought you the steps below:
Move to Others tab and click on + Create icon
Select Bank Deposit
Using the Accounts drop-down choose the bank account for investment income in QuickBooks.
Fill in the fund deposit date
From New Deposits, enter investor’s name in the Received from area
Hit on the correct account from Accounts drop-down and press a Payment Method
In the Amount, field fill it with exact figures
Hit on Save and Close to complete the procedure
Now that we have talked about various steps involved in Investment Income in QuickBooks you should be good to go. Reach out to the QB support team on 1.800.579.9430.