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dawn0506
Level 1

How do I set up and record mutual fund purchases in chart of accounts for my non-profit?

My accountant suggested a cash account but I already set up brokerage as other asset and mutual fund as other asset. I use "transfer" from brokerage to mutual fund.
1 Comment 1
Rustler
Level 15

How do I set up and record mutual fund purchases in chart of accounts for my non-profit?

Nothing wrong with the way you are doing it, though setting the brokerage up as a bank type cash account would make things easier long term

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