Frequently Asked Question

Receiving Income into Quick Books and Month End Journal Entries
Last Updated 4 years ago

Accepting Income from Deskworks to Bank to Quickbooks

Accepting deposits into your bank account:

1. From REPORTS, DEPOSIT TRANSACTION REPORT (DTR), select the date range and center you want to see. Keep the report as a .csv, so you can edit and make notes.
2. In Quickbooks (QBO) | Transactions | Banking | For Review, view all of your deposits that need to be accepted. You'll see that you get a line for Amex, Visa/MC, Cash/Checks by date and location, with the detail under it. Accept the deposits you can see on the DTR into your main Income Account in QBO. Check them off on the report. Occasionally you may have to match up part of one day’s deposits with part of another’s, but this should be rare. If you have the correct “Credit Card Cutoff Time” in SETTINGS, your deposits should match.

3. If you have multiple centers, Deskworks automatically groups your deposits by QBO “Class”, using the Facility as the Class.
Be sure you note any deposit showing in Deskworks that you don’t see coming into your bank account, as well as any deposit into your bank account that you don’t see in Deskworks, and handle them appropriately. (You should especially watch checks and cash.)

End of Month Transfer to Specific Income Accounts
You will want to further categorize your income into Income Account Codes, such as Income - Memberships, Income - Hourly, Income - Printing, etc. This process is a simple way to show what percentage of your income comes from these various income sources.

1. At the end of the month, from REPORTS, pull the INCOME BY ITEM REPORT (IIR) for the previous month. If you have multiple centers, pull for each center separately.

2. On the attached spreadsheet, enter the total income for the previous month from QBO (H4).
3. On the spreadsheet, enter (Col. D) the total dollars from the IIR for Discounts & Custom, Membership, Registration, Rental Hours, Print and Services. If your Income Accounts are different than these, add and enter totals as needed. (And modify the spreadsheet!)

4. If you have multiple facilities, add those in the same way.

5. The spreadsheet will give you the percentages of the total sales in DW for the previous month associated with each line. It will then calculate how much of your deposited income is associated with each line item.

6. And it then gives you the Journal Entry to move your general income into the disbursed income accounts!

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