cancel
Showing results for 
Search instead for 
Did you mean: 
Cfrance
Level 1

Collecting fines

I'm issuing a fine of $2000, when the amount is paid  I will deposit in my operating account. I prefer to show what I collect as fines separately on the balance sheet, how do I do this? Thanks.

2 Comments 2
BigRedConsulting
Community Champion

Collecting fines

I'm not sure there's a way to do that.

 

Since you're depositing the money for the fines into your bank account, they'll be combined in that account's balance on the balance sheet.

 

I suspect that the fines are tracked as income (?) and as such that part of the fines transactions won't appear on your balance sheet at all.

Cfrance
Level 1

Collecting fines

Thank very much for your response. Yes the transactions are recorded as income on the income statement. I will track using a class in the meanwhile. Thanks again. 

Need to get in touch?

Contact us