How to record liquidation of funds in one bank account

jreardon · ‎September 05, 2023

I have one money market bank account. I'm trying to record the liquidation of money market funds into cash within the same bank account. This is not a transfer of funds from one account to another, but rather, just a liquidation of funds within the same account.

What I'm hoping to achieve is the money market fund total decreasing and the liquidation of funds (cash) to increase... but within the same bank account.

BigRedConsulting · ‎September 05, 2023

It sounds like you're essentially exchanging cash for cash. So, I'm not sure there is an accounting event to record. If you have a gain from interest that's been accruing, that may be something to enter.

View solution in original post

BigRedConsulting · ‎September 05, 2023

It sounds like you're essentially exchanging cash for cash. So, I'm not sure there is an accounting event to record. If you have a gain from interest that's been accruing, that may be something to enter.

Joel-OnTrack · ‎September 05, 2023

@BigRedConsulting,

Always so practical and straight forward!

(Unlike...)

Topics

Training

Community

Resources

How to record liquidation of funds in one bank account