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How to enter cash received from related party temporarily
I have cash receipts from related parties on temporary basis which will be returned as per availability.
So how to make those receipts and payments entries in QuickBooks online.
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Getting Started
Hello, Sam1495.
Thank you for reaching out to the Community. Since you've received the money, we can record it as a deposit and then select the specific account you want to put the money into. I'll show you how to do it:
- Click + New.
- Choose Bank Deposit.
- From the Account ▼ dropdown, choose the account you want to put the money into.
- Select the checkbox for each transaction you want to combine.
- Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
- Press Save and close.
Once the money is available, we can write a Cheque and use the same account to offset the amount. For more details steps, please review this article: Create and record cheques in QuickBooks Online.
Keep in touch if you need any more assistance with this, or if there's something else I can do for you. I've got your back. Have a good day.