Re-investing interest

Greengran
2 Posts
Cover User
Australia
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Re-investing interest

I am using AccountRight and have an investment account.  The statement shows that $x have been received in interest.  How do I reconcile the account if I want to leave the interest in the account?

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Partner AlanT
1,176 Posts
Partner
Australia
Partner

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Re: Re-investing interest

Hi @Greengran 

 

If your investment account is set up as a bank type account in MYOB and I assume that you do not have bank feeds setup for this account, you can go to Banking » Receive money and manually enter the amount of interest posting it to the income account Interest Received.

 

If it in not set up as a bank type, account you create the entry with a General Journal entry debiting the investment account and crediting Interest Received.

 

Regards,

 

AlanT

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