how do i record a payment from my old bank account

Let’s start by setting up your Old Bank Account, as this will specify the source.

To begin:
 

1. Go to the Gear icon ⚙️in the upper right corner.
2. Under Your Company, select Chart of Accounts.
   
   

    

3. Then click on New to create a new account.
4. For Account Type, choose Bank.
   
   

    

5. For Detail Type, choose an appropriate option like Checking.
6. Name the account (e.g., Old Checking Account).
7. Fill in additional details if necessary, such as the account number or description.
   
   

    

8. Tap Save and Close.

Next, let's fill out the expense details:
 

1. On the left-hand navigation panel, click the + New button.
   
2. Under the Vendors section, select Expense.
   
   

    

3.  Select your contractor from the dropdown list. If unavailable, click Add New to add them as a vendor.
4. Choose your Old Checking Account.
5. Enter the date when you paid.
6. Select how you paid.
7. Choose the appropriate expense category, such as Contract Labor or something similar.
8. Enter the payment amount.
9. You can add any notes here or if you want to keep particular details.
   
   

    

10. Once you've double-checked everything, click Save and Close.

Lastly, you can check or verify the expense. Here's how to do it:
 

1. On the left side, click Expenses.
   
   

    

2. Find the transaction you just entered. You can use filters, such as date or vendor name, to locate it.
   

    

   
   
   
3. Scroll down and tap apply once done.

Additionally, there are also other ways to settle contractors. Visit this article for a reference: Pay a contractor.

This reflects payments coded to expense accounts. That you can use in after making records: Run a report with vendor totals in QuickBooks Online.

Need help with recording or running vendor total reports? I’m here to assist with any questions.