by Wendi
(WV )
Can anyone please explain how you have set up a sweep account in Quickbooks?
I had found through some research, that it was to be set up as a "sub bank account" where all transactions will be show in the register and in the balance.
For us, we maintain an operating balance of $50,000 each day, and anything over that amount goes to a sweep account where it earns interest.
There are times that excess of $50, goes into the sweep account, but could be times that funds are pulled from the sweep account to cover incoming expenses in the operating account.
I just wanted to set it up correctly so that transactions and reconciliations are able to be made. Thanks! W
Comments for Sweep Account set up in QUickBooks
|
||
|
||
If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.
Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)