The money you earn from the increase in the value of the investment is called Investment Income. A few examples of investment income are the money you earn from interest income, real estate, funds, stocks, collectible items, fund receivables, etc. You can set different types of accounts in QuickBooks that can be used to classify related transactions and allocate the investment. This article aims to explain how to record investment income in QuickBooks and the conditions to set up an account for recording the investment income.
If you need more information about recording investment income in QuickBooks, dial 844-932-1139 and get a detailed explanation from a QuickBooks Expert.
Stages to Record Investment Income in QuickBooks
Stage 1: Add a vendor in QuickBooks
- First, open the QuickBooks application.
- Next, select the Expenses section.
- Then choose the vendors option.
- After that, click New Vendors.
- Finally, type the required information in the form and then select Save.
Stage 2: Set up an Equity Account
- Open settings in QuickBooks.
- Select the Chart of Accounts.
- Click New and choose Equity from the drop-down under the account type section.
- Then select drop-down for Details and click the Owner’s equity and partner’s equity options.
- Finally, type a name for your account and select Save and close.
Stage 3: Deposit capital Investment Funds in the Account
- Select the + Create icon and then open the Others tab.
- You need to click Bank Deposit and then select your bank account from the Accounts drop-down list.
- Enter the fund’s deposit date.
- Then type your investor’s name in the received from the field, under New Deposits.
- After that, select your account from Accounts drop-down.
- Choose the Payment Method.
- Enter the amount in the Amount field.
- Finally, select Save and close.
Conclusion:
The information provided above in this article is an attempt to explain the procedure to how to record investment income in QuickBooks. The procedure described above consists of three steps- adding vendors in QuickBooks, depositing capital investment funds in the accounts, and creating an Equity account in QuickBooks. If you have any doubts related to this article or about recording investment income in QuickBooks, dial 844-932-1139 and get doubts cleared from a QuickBooks Professional.
