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ReymondO
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Hello there, @Ps_25.

 

Thank you for sharing the steps you did when transferring the interest.

 

Since the journal entry doesn't affect your account's balance, I'd recommend deleting it so it won't affect your books. 

 

To move the interest, you can create a bank transfer. This will help you transfer the funds from your Savings account to the actual account. Here's how:

 

  1. Click the + New icon and select Transfer.
  2. From the Transfer Funds From drop-down list, choose the bank account that the money is coming from.
  3. Select the bank account that the money is going to from the Transfer Funds To drop-down menu.
  4. In the Transfer Amount field, enter the amount being transferred.
  5. Edit the Date field.
  6. Click Save and close or Save and new to complete the transfer.

Once done, you can find the transfer by opening the account register in the Chart of Accounts.

 

In addition, I'd recommend reaching out to your accountant for further assistance in handling your transaction in QuickBooks Online. This will make sure that your books are accurate.

 

You're more than welcome to visit this thread again if you need any other help with managing your accounts in QuickBooks. I'll be there to assist you. Have a good one.