After payment has been received from a
customer/buyer and the money received is to be deposited in the bank, the
following steps is how to record the transaction in QuickBooks.
A payment was received from ‘Dare Ojo’
(a customer) whom we sold an airplane too. To make deposit, follow the steps
below:
1)
Click ‘Banking’ at
the menu bar and select ‘Make Deposit’
from the drop down list
Or click ‘Record Deposit’ at the right side of
the home page.
2)
The
‘Record Deposit’ window appears and automatically, a ‘Payment to Deposit’
window opens showing payments received that are yet to be deposited in the bank.
To deposit Dare Ojo’s payments, click the box at the left side of the window
NOTE: The payment subtotal is 0.00 because
the payment is yet to be ticked.
When the
payment is clicked, the payment subtotal changed
Click OK
after ticking the payments to be deposited.
3) Automatically,
QuickBooks fill in the details in the ‘Record Deposit window’
4)
Click
the drop down arrow at the ‘Deposit To’ box in order to choose the account you
want the money to be deposited. Here, ‘Ogundele
Oluwafemi’ is choosed
5) Click
‘Save & Close’ at the bottom after choosing the account to be deposited.
Automatically,
QuickBooks debit ‘Ogundele Oluwafemi’ (the bank) account and credit the Undeposited
fund account.
Excellent
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