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Annemieke1954's avatar
Annemieke1954
2 years ago

Interest earned on term deposits

Hi, We have 2 term deposits. They are in our assets list. When they mature we will roll them over together with the interest earned.  How and when do I record the increase in the assets list.  Do I n...
Genreve_S's avatar
Genreve_S
MYOB Moderator
2 years ago

Hi Annemieke1954, 

 

Thanks for reaching out.

 

I understand how important it is that the interest on those assets gets accounted for. Generally, we make journal entries for the amounts that we are adding. I would much suggest consulting with a financial advisor. Because recording assets and journals are considered financial advice that we aren't allowed to provide. 

 

Let us know if we can provide any other assistance. We're happy to help. 

 

Cheers, 

Genreve

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