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jreardon
Level 2

How to record liquidation of funds in one bank account

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.

Solved
Best answer September 05, 2023

Best Answers
BigRedConsulting
Community Champion

How to record liquidation of funds in one bank account

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.

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2 Comments 2
BigRedConsulting
Community Champion

How to record liquidation of funds in one bank account

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
Level 2

How to record liquidation of funds in one bank account

@BigRedConsulting,

Always so practical and straight forward!

(Unlike...)

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