I have a company that works like a bank. We take investments from individuals. Interest is paid quarterly to each of thse customers. How can I account for this in Quickbooks?
I want to be able to give each customer a quarterly statement showing their beginning balance, any additional amounts they invested or withdrew, interest paid and and fees they paid for management of the portfolio.
It seems that customers in Quickbooks can only be set up as entities that owe the company; they are invoiced and they make payments. I need the customer statements, transaction history, etc. that you get with the part of Quickbooks, but for amounts owed to the customer, not from the customer.
Any ideas?
Thanks for your help.
Karen