[GNC] Interest Income

[Gyle McCollam]

Yes, you would use an interest earned account.  You may have a general interest income account for all your interest or if you want to verify your interst earned at the end of the year you might want to set up an interest earned account for each payor under a parent account of interest earned.  The other account is easy, it is you savings account, you debit your savings account and credit the intersst earned account.


Thank You,

Gyle McCollam

Gyle McCollam

gmccollam at live.com<mailto:gmccollam at gyleshomes.com>           email

________________________________
From: gnucash-user <gnucash-user-bounces+gylemc=gmail.com at gnucash.org> on behalf of Abe Sternberg <abe.h.sternberg at gmail.com>
Sent: Monday, February 20, 2023 12:46 PM
To: gnucash-user at gnucash.org <gnucash-user at gnucash.org>
Subject: [GNC] Interest Income

I have just started using Gnucash for my savings account, not much money
involved here, and wanted to enter my first transaction.  Not being good
at double-entry bookkeeping, I have no idea what are the two off-setting
accounts.  I imagine that I use income, but what is the other account?

Thanks for your help to a dumb guy.

Abe
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