I Have Bluevine Checking Account That Earns Interest Which Category Do I call It
tomallyn
Member Posts: 3
I saw another thread about a savings account it was advised to create an account in chart of accounts. I did that but when I comes to the category there is none I see for interest earned or anything that makes sense to that it fits in. Please help!
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hi @tomallyn I suggest creating a new chart of account called "Interest" under the "Other Income" heading to record interests earned from your bank!
I've already done that but doesn't answer my actual question. Please read my question and answer the question of once I've this what category do I put the interest payments in?
Its clear every time I ask this question I get the same exact answer that doesn't answer my question.
Hey @tomallyn , I'm not sure I understand the issue you're having. You mention that you've already created an account called 'Interest' under 'Other Income'. When categorizing your income transactions in Wave that represent this added interest on an account, are you not able to see the Interest categorization showing up?
Let us know.
I don't see any category named interest just account I created that I named interest. But in the Categorization section as shown the screenshot
This what I mean by I created a account.
I may just be completely lost and not have clue.
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Hey @tomallyn,
It looks like the account that you've created may be a Cash and Bank Account rather than an Income account. This means that it won't show up under the Category drop down, but under the Account drop down.
To confirm this, would you be able to share a screenshot of this income account along with the entire Chart of Accounts page that it is on?