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Art-fan's avatar
Art-fan
Contributing Cover User
6 years ago
Solved

Set up Term deposit in Accounts listing

We recently established a Term Deposit. I have a spare Account to create this.  I was advised to use "other current Asset" for this account by our accountant. How do I post the 'transfer' of funds from our operating bank account to this term deposit when it is not a 'bank' type account?

 

  • GDay53's avatar
    GDay53
    6 years ago

    Art-fan 

     

    Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

     

    Personally I would still create the account as a Bank type account but I would make sure it was in "Other Current Assets" in the Chart of Accounts.

     

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  • GDay53's avatar
    GDay53
    Ultimate Partner
    6 years ago

    Art-fan 

     

    Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

     

    Personally I would still create the account as a Bank type account but I would make sure it was in "Other Current Assets" in the Chart of Accounts.