Last Updated on March 14, 2022
Investment income is the money earned by the increase in the value of an investment. It includes earnings from interests income, stocks, bonds, funds, real estate, collectible items, and other fund receivables. QuickBooks allows you to set up several different types of accounts effortlessly that not only will enable you to classify related transactions but also to allocate investments. This article will guide you on how to record investment income in QuickBooks along with the standard requirements that you need to set up before recording an investment income in QuickBooks. For complete info, follow the entire tutorial until the end.
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Steps to Record Investment Income in QuickBooks
Step 1: Create Vendor in QuickBooks
- Open QuickBooks and from the Expenses section click Vendors.
- Click New Vendors.
- Fill the information required in the form and click Save.
Step 2: Create an Equity Account to Track Investment
- From the QuickBooks Settings click Chart of Accounts.
- Choose New and then from the Account Type section select Equity by clicking the drop-down list.
- Now click the drop-down list for Details and select from Owner’s Equity and Partner’s Equity options.
- Choose a name for the account and click Save and Close.
Step 3: Deposit Capital Investment Funds in the Account
- Click the + Create icon and select Bank Deposit from under the Others tab.
- Choose the bank account from the Accounts drop-down list.
- Type the date when the funds got deposited.
- From the New Deposits option, type the name of the investor in the Received from field.
- Now choose the correct account from the Accounts drop-down list.
- Select the correct Payment Method.
- Type the exact amount in the Amount field.
- Click Save and Close.
Following the method mentioned above, you can even set up multiple partner or owner accounts by creating an equity account for them. In case, if you still need help recording investment income in QuickBooks, then you can reach us at our Helpline Number 1.855.738.2784.
Edward Martin is a Technical Content Writer for our leading Accounting firm. He has over 10 years of experience in QuickBooks and Xero. He has also worked with Sage, FreshBooks, and many other software platforms. Edward’s passion for clarity, accuracy, and innovation is evident in his writing. He is well versed in how to simplify complex technical concepts and turn them into easy-to-understand content for our readers.