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When would I add a Bank account?

In addition to adding bank accounts to track petty cash (cash you keep available for quick purchases), checking, savings, and money market funds, you might add a bank account to track your cash in drawer amount (if you have a cash register).

Bank accounts are the best way for you to track money that is easily available.

  • You should create separate Bank accounts for any account you want to reconcile, using the bank statements you receive by mail, or by downloading the account information from your financial institution. Being able to reconcile accounts helps ensure that your business spending is accounted for properly.
  • You can create separate accounts for every type of statement you receive, or financial institution you belong to, so that you can easily identify proper balances for the associated accounts. You can then use familiar features in QuickBooks such as writing checks or paying bills, by simply selecting the individual bank account you want to write the check.

See also

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