Account Interest

David A Pisani on

We just started a new club and all of the members have made contributions to the account. The money is in a interest account until we decide on what to purchase. The interest account has a gain of 01 cent for the total amount of money, will I need to add this interest to the interest account as a gain?

Thanks for the help.
David.

Laurie Frederiksen on

On Wed, Feb 29, 2012 at 8:46 AM, David A Pisani wrote:
The interest account has a gain of 01 cent for the total amount of money, will I need to add this interest to the interest account as a gain?

Dear David,

Just record it as Interest using the "Interest" button you'll find on the Accounting>Accounts page.

Laurie Frederiksen
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