How to log a business investment transaction?
chj915
Member Posts: 39 ✭✭
As my business' director, I have recently made a discussion on purchasing a trust fund.
There is a large transaction out from my business bank account. I want to log this transaction in WAVE. How do I do it correctly? What is the expense category should I use?
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I'm pretty sure you would make an asset account for your investment, @chj915.
You would just have to make an expense transaction categorized to that asset account, and occasionally adjust its value, like you would with appreciation/depreciation of any other asset.
Hey @OrionsBelts could you define "occasionally". What is the recommended period to keep updating this asset account? And how should it be updated with profit or loss, accounting wise?
HI @alexgarciab . You'd be best reaching out to an accountant about this so they can advise you on how often you would want to do this based on the asset.
If someone else in the Community would like to help out with a more detailed response on how to handle this, please feel free to chime in
!