[GNC] How-to question: CD Interest payments deposited in a different account

Art Chimes arts.online at gmail.com
Tue Feb 19 16:02:28 EST 2019


Thanks all who replied, and so quickly, too. I think Dale pretty much
nailed it, about over-thinking the problem. Or perhaps more accurately,
failing to think about it in a new (gnu?) way.

Since the interest payments originated with the asset (the CD), I assumed
that the payments should first appear in, or go through, the asset account
holding the CD (analogous to what I am used to in Quicken). But it is
definitely easier just to start with the income account and having the
money then transfer to the checking account.

I can use the Description field to note the source of the money. Which
brings me to another point. Since I can do that, it seems to me that ALL
interest payments — other CDs, savings accounts, etc — can use the same
Income:Interest account, yes? I don't see that I need to separate them, as
long as they are tagged with the source. Unless I'm missing something,
which is more than entirely possible.

Art


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