Question about how to post something - simple I think?

[davelist at mac.com]

On Apr 14, 2012, at 9:18 PM, SybreedFan wrote:

> I recently opened a business account at a bank. The opening deposit fee
> required is $25.00.
> 
> I would like to post this to my expense account "bank fees", but also show
> the $25.00 going into my asset account "savings". The $25.00 technically
> came from cash in hand. Most importantly I want to be able to show this as
> an expense, and keep my account balances accurate.
> 
> I am probably overthinking it with everything I've tried. Help? 
> 
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Is it really a fee or just a minimum balance requirement? Will it be part of the balance in the account and you'll get it back when you close the account? If so, it's just a transfer between two asset accounts. A minimum balance requirement is not an expense. 

HTH,
Dave