How to record gross interest in bank reconciliation for first time

Hello there, ThumbelinaPM,

If you haven't started the reconciliation, you can select the account to reconcile. From there, you have an option to enter the interest earned from that account before you hit the Start reconciling button.

If you meant to record the interest received for bank accounts, follow these steps:

1. Select Accounting, then New to create a new interest account.
2. Under the Account Type column, select Other Income. Under the Detail Type column, select Interest Earned. Under the name column, input any name which is applicable, then select Save and Close.
3. Select + New.
4. Select Bank Deposit.
5. Under Add funds to this deposit, select the customer’s name who paid the interest, then select the interest account you just created.
6. Enter a description, payment method and amount, then select Save and New.
7. On the Dashboard, you can notice that the deposit has already been recorded under Bank accounts.

Know that you can always count on me if you have any other questions.

Hi Mary, I tried this but it only lets me select Bank accounts when I try to do a bank deposit, ie. cant select the new 'Other Income' account I created

Hello DJVJ3000, thanks for posting on this thread, You should be able to use it, as long as you are selecting it in the add funds to this deposit table  section and not the bank account field section at the top of the bank deposit.

ah yes that was the problem! thanks Ashleigh :)