Recording insurance proceeds in Quickbooks

[Mike R.]

Accounting/quickbooks question. The waterline broke between my rental property and the street. I paid $2900 for a new waterline and $490 to redo the sidewalk for a total of $2390. I recorded the waterline as a capital improvement (fixed asset in quickbooks) and the sidewalk as a repair. All this took place in October. I submitted an insurance claim and this month (January 2018) I received a check for $2890 ($2390 total loss less $500 deductible). How do I record the insurance proceeds and deductible in quickbooks and how does that impact or interact with my entries from October? I assume I'll need to add some categories and do a general journal entry. Thanks in advance!