QB 2007 for Mac - Bank Reconciliation - Interest income appears in withdrawals section
6/28/09 3:18 PM
Total Views: 463
I'm using QuickBooks 2007 for Mac. When I reconcile my bank account, I put the interest income in the appropriate space at the top of the reconcile screen. However, the same amount also appears in the withdrawals section, below.
If I don't check it off in the withdrawals section, the account reconciles fine, but then I have that transaction showing as an uncleared withdrawal in the following months. Each month that I enter a number in the interest income box, I get another matching withdrawal, so they're starting to pile up.
Why is my interest income being mirrored in the withdrawals section? It makes absolutely no sense to me...
Thanks in advance for any info you may have.
Answer
I suspect that you have the interest income off-setting to the wrong account. It should be going to a income account, probably one named "Interest Earned" or something similar.
When you start a reconciliation, on the "Interest Earned" line after the "Date" field, see what the "Account" field says.
Long-time QuickBooks for Mac user
Former business owner
NOTE: This is a user-to-user forum and not official Technical Support.
