I can help you with transferring the money to your QuickBooks Checking account, @andy@firstintran.
Once you've signed up for QuickBooks Payments and get a QuickBooks Checking account, all your customer payments will be deposited there.
If this isn't a payment made from your customers like coming from a lender, you need to link an external bank account if you want to transfer money to and from your QuickBooks Checking account. When moving the $160,000 to your QuickBooks Checking account, you will utilize that account.
After moving or receiving the $160,000 to the external bank account, here's how to add the money to your QuickBooks Checking account:
Go to the Business overview, choose Cash flow and click on QuickBooks Checking.
Select Transfer and choose the option to transfer money between your accounts.
Enter the amount you want to transfer.
In the From field, select (+). Then select your connected bank account.
In the To field, choose your QuickBooks Checkingaccount.
Click on Finalize transfer.
For detailed guidance on how to connect a bank account and transfer money in and out of your QuickBooks Checking account, refer to this article: Use your QuickBooks Checking account.
Here's also more information on how to record the loan and its payments in QuickBooks Online to track what you owe: Set up a loan in QuickBooks Online.
Let me know if you need more help transferring the amount to your QuickBooks Checking account by leaving a reply below. Have a great rest of the day!
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