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jchang926
Level 3

Iolta account has an interest paid and interest earned every month. How do I record that?

I'm not sure if I'm doing it correctly and I just wanted to double check that I'm doing it right. I have interest earned as other income and for interest paid, I just put it under expense. Is that correct? It's for our Iolta account.
1 Comment 1
Rustler
Level 15

Iolta account has an interest paid and interest earned every month. How do I record that?

Yes that works fine

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