Equity Accounts / Making Deposits

  • Thread starter Verizon Wireless
  • Start date

V

Verizon Wireless

I'm trying to set up an Equity Account (IRA Account) as an equity line item
on the balance sheet. I get as far as creating an opening balance, but how
do I transfer funds from Bank accounts to this equity account?

TIA
 
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V

Verizon Wireless

Correction -

How would I set up an IRA account? What type of account should it be, so
that I can periodically xfer funds to it? I'm I limited to just General
Journal Entries to this account? (Quickbooks Basic 2004 user ...)

TIA -
 
T

Tee

Verizon Wireless said:
Correction -

How would I set up an IRA account? What type of account should it be, so
that I can periodically xfer funds to it? I'm I limited to just General
Journal Entries to this account? (Quickbooks Basic 2004 user ...)

TIA -
You can use the Banking>Transfer Funds option to move funds to & from all
but expense accounts.
 
M

Mike Block - QuickBooks Tax Cut C.P.A.

Correction -

How would I set up an IRA account? What type of account should it be,
so
that I can periodically xfer funds to it? I'm I limited to just
General
Journal Entries to this account? (Quickbooks Basic 2004 user ...)

TIA -


I'm trying to set up an Equity Account (IRA Account) as an equity line
item on the balance sheet. I get as far as creating an opening
balance, but how
do I transfer funds from Bank accounts to this equity account?

TIA

For Setting up of IRA Account create a New Payroll Item from Employees
Navigator. Choose Custom Set Up and then Click on Deductions or
Company Contribution or you may create both if required. This will
create an IRA Account for employee's salary reduction under Payroll
Liabilities as well as IRA Account for Company Contribution under
Payroll Expenses. Depending upon the nature of your IRA set up, you
can transfer fund to IRA Account from Pay Liabilities option under
Employees Navigator. For example: If you have only the Employers
selected IRA then choose the IRA for Company from the Pay Liability
Window. Otherwise select both for employee and company contributed
IRA.

Mike Block - QuickBooks Tax Cut C.P.A.
Intuit paid me to make QuickBooks better!
http://www.blocktax.com/
http://www.quickbooks-add-ons.com/
 
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D

Darlene Marno

You can use 'transfer funds' in the banking menu or just enter a line item
in the register or post a JE.

DM
 

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