Quickbooks Investment Deposits: A Step-By-Step Guide

Making an investment deposit in QuickBooks is a straightforward process. It is important to note that there are different ways to make an investment deposit depending on the type of transaction and the QuickBooks product being used. For example, if you are using QuickBooks Online, you can go to the +New button on the left menu, select Bank Deposit under OTHER, and then follow the prompts to enter the necessary information. If you are using QuickBooks Desktop, you can use the Make Deposits tool to make and record a personal cash deposit as a capital investment. This will ensure that your company accounts remain accurate.

How to make an investment deposit in QuickBooks using the [Make Deposits tool]

To make an investment deposit in QuickBooks using the "Make Deposits" tool, follow these steps:

• Click on the "Banking" tab in the main menu bar at the top of the screen.
• Select "Make Deposits" from the drop-down menu. If the "Payments to Deposit" window appears, select the payment and the investment check you want to deposit and click "OK". If you only want to deposit the investment check, click "Cancel".
• In the "Make Deposits" window, select the company bank account where you want to deposit the investment.
• In the "Detail" area, type your name or the name of the co-owner who is making the investment.
• Enter the amount of the investment in the "Amount" input box.
• Click the "From" account drop-down menu and select the applicable owner equity account from the list of available accounts. This is the bank account containing the personal cash or investment funds.
• Click "Save & Close" to record the transaction and exit the window.

You can also create an owner's contribution by setting up an equity account and then making a deposit for the investment. Here are the steps:

• On the Homepage, select "Record Deposits" or "Make Deposits".
• In the "Payments to Deposit" window, select the bank account you're depositing the money into.
• Ensure that the account and selected payments match the deposit slip from your bank.
• Enter the date you made the deposit at your bank.
• Click "Save & Close".
• Finally, create a check to pay back the funds from the investment.

How to set up an investment account as a bank-type account in QuickBooks

To set up an investment account as a bank-type account in QuickBooks, you need to first set up an equity account. Then, you can make a deposit for the investment. Here is a step-by-step guide:

Step 1: Set Up an Equity Account

• Go to the Homepage.
• Select "Record Deposits" or "Make Deposits".
• In the "Payments to Deposit" window, select the bank account you're depositing the money into.
• Ensure the account and selected payments match the deposit slip from your bank.
• Enter the date you made the deposit.
• Select "Save & Close".

Step 2: Make a Deposit for the Investment

• Go to "Banking" in the top menu and then click "Make Deposits" in the pull-down menu.
• Click to select the cash payment you want to deposit in the "Payments to Deposit" dialog window and then click "OK".
• Select the bank account in which you want to deposit the cash from the list of available company bank accounts.
• Enter your name in the "Detail" area.
• Type the amount of the cash deposit in the "Amount" field.
• Click the "From" menu button and then click to select your owner equity account in the drop-down list of accounts. This is the bank account that contains the personal cash you want to invest in the business.
• Click "Save and Close" to enter and save the transaction.

Please note that you can also set up an asset investment account in your chart of accounts. To do this, open the Accounting menu and choose Chart of Accounts. Then, select the New button in the top-right corner. Choose your account type (Asset) and pick your detail type (Investments). Finally, save and close.

How to record deposits in QuickBooks Desktop

Recording deposits in QuickBooks Desktop is a straightforward process that helps you manage your finances effectively. Here's a step-by-step guide on how to record deposits:

Step 1: Prepare the Deposit

Before recording a deposit in QuickBooks Desktop, ensure you have the necessary information, such as the date of the deposit, the payment method, and the source of the revenue. It is essential to have accurate details to streamline the deposit recording process and ensure accurate financial records.

Step 2: Access the "Make Deposits" Feature

To begin recording a deposit, go to the “Banking” menu in QuickBooks Desktop. From the drop-down menu, select the "Make Deposits" option. This will open the “Payments to Deposit” window, where you can select the specific payments you want to include in the deposit.

Step 3: Choose the Bank Account

In the "Make Deposits" window, select the bank account into which you want to deposit the funds. You can choose from a list of available company bank accounts. Ensure that the selected account matches the deposit slip from your bank to avoid discrepancies.

Step 4: Enter Deposit Details

In the “Detail” area, enter your name or the name of the person making the deposit. Next, specify the amount of the deposit in the "Amount" field. If you are depositing multiple payments, ensure the total amount matches the deposit slip from your bank.

Step 5: Select the Source Account

Click on the "From" drop-down menu and choose the appropriate source account for the deposit. This could be an owner's equity account or a specific income account, depending on the nature of the deposit. Ensure you select the correct account to maintain accurate financial records.

Step 6: Save the Transaction

Once you have entered all the necessary details, click on "Save & Close" to record the transaction. This will save the deposit in your QuickBooks Desktop records. You can now view and manage the deposit along with other transactions in your financial records.

By following these steps, you can efficiently record deposits in QuickBooks Desktop, ensuring accurate financial records and streamlined reconciliation processes. Remember to review and reconcile your deposits regularly to maintain the accuracy of your financial data.

How to record deposits in QuickBooks Online

Recording deposits in QuickBooks Online is a straightforward process that can be done manually or by using the Bank Deposits feature. Here's a step-by-step guide on how to record deposits in QuickBooks Online:

Step 1: Place Transactions in the Undeposited Funds Account

This step is optional but recommended if you want to combine multiple payments from customers or clients into a single deposit. Here's what you need to do:

• Go to the "Receive Payment" option in QuickBooks.
• Choose the customer from the "Customer" drop-down menu.
• Select the checkbox for the invoice you are receiving payment for.
• From the "Deposit to" drop-down menu, select "Undeposited Funds".
• Click on "Save and Send", "Save and New", or "Save and Close".

Step 2: Integrate Bank Deposit and QuickBooks Transactions

• Go to the "Banking" menu and select "Make Deposits" or "Bank Deposit".
• Choose the account you wish to deposit the funds into from the "Account" menu.
• For each transaction you want to combine, check the box next to it.
• Verify that the total amount of the selected transactions matches the amount on your deposit slip.
• Click "Save and New" or "Save and Close".

Additional Tips:

• If you need to deposit money into more than one bank account, you can add a new line under the payment you wish to transfer to a different account. Choose the second account from the drop-down menu and enter the desired amount as a negative value.
• To deposit payments into a non-bank account, select "Record Deposits/Make Deposits" from the homepage, choose the payments, pick the target account from the drop-down menu, enter the amount, and save.
• To deposit cash into a QuickBooks Desktop Cash Account, first create a "Cash" account under the Chart of Accounts, then record the deposit through the Banking menu, ensuring the amounts match your actual cash and bank statements.
• You can also record deposits manually in QuickBooks Online. This provides flexibility and control, allowing you to record all financial transactions thoroughly.

How to enter a deposit manually in QuickBooks

To enter a deposit manually in QuickBooks, follow these steps:

• In the left menu, click the +New button.
• Under OTHER, select Bank Deposit.
• On the Account menu, select your bank account.
• Go to the 'Add funds to this deposit' section.
• Enter the necessary information.
• If there's a deposit you want to include in the 'Select the payments included in this deposit' section, put a checkmark for that transaction.
• Select 'Save and New'.

You can also enter a deposit manually by following these steps:

• Select the Accounting menu at the left panel.
• Choose 'Chart of Accounts'.
• Select 'View Register' for the register you want to view or edit in the Actions column.
• Select the Filter icon, then choose the filters you want to apply. You can use the Find field to search by amount, reference number, or memo.
• Find the deposit and click the Edit button.
• Make any necessary adjustments.
• Click 'Save and Close'.

To make an investment deposit in QuickBooks, you can create a bank deposit to record the investment. Here are the steps:

• Set up an equity account.
• Make a deposit for the investment: On the Homepage, select 'Record Deposits' or 'Make Deposits'.
• In the 'Payments to Deposit' window, select the bank account you're depositing the money into.
• Ensure the account and selected payments match the deposit slip from your bank.
• Enter the date you made the deposit at your bank.
• Select 'Save & Close'.
• Create a check to pay back the funds from the investment.

Frequently asked questions