Sweep Account set up in QUickBooks

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

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