Certificates of deposit

Well, it's an asset, more or less same-as-cash, so it should either be an asset or a bank (cash) account, I'd think.

When you're paid the principle and interest at the end of the term, transfer the amount you received to whatever account you deposited it into.

Thanks for the feedback. In Account Type," I decided to make it an "Other Current Asset." 

If a company has 400,000 and the cash is being withdrawn to apply to a CD. How is this withdraw recorded in QB Online? I'm not familiar with this entry? Thanks in advance. 

Regarding your concern on how to withdraw and record the 400,000 in your company to apply to a CD in QuickBooks Online, let me share some insights with you, @look4tj2.

For the amount you withdraw from the company you can use a special account to put and track the money from it, and since you want to deposit this amount to your CD, you can use a transfer fund transaction in QuickBooks Online to move the withdrawn amount to the CD. 

I recommend referring to your accountant for professional advice if it needs more complex account tracking

Furthermore, here is an article you can use to learn how to combine multiple transactions into a single record so QuickBooks matches your real-life bank deposits: Record and make bank deposits in QuickBooks Online

Feel free to comment below with any questions or concerns about withdrawing and record the 400,000 in your company to apply to a CD in QuickBooks Online. The Community is always here. Keep safe!