Adding an interest dividend to savings account creates a credit and debit, cancelling it out.
I create a sales receipt from a dummy customer called Bank interest. I set the account to a line item also called Bank interest. I then tell it to deposit straight into the savings account. The result is a credit and a debit in the savings account, which cancels each other out. I know you can add bank interest through the reconcile window, but I'm not caught up on reconciling yet. I have old interest amounts I need to enter.
Adding an interest dividend to savings account creates a credit and debit, cancelling it out.
@dn1 wrote: I know you can add bank interest through the reconcile window
No you don't add anything from the reconcile window. You add from Banking>For Review. "Reconcile" is a different task
I create a sales receipt from a dummy customer called Bank interest.
Just use a Bank Deposit transaction (which is what would be created if you click "Add" in Banking>For Review. A Sales Receipt transaction is for a sale.
Adding an interest dividend to savings account creates a credit and debit, cancelling it out.
During reconcile, one adds the interest earned into the appropriate place before reconcile. The system then credits the interest but then debits it. Why? The balance is always off by the interest amount. If you delete the debit, it deletes the credit too.
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