IRA Contribution

Fritzmar

I am a self employed consultant I am using a Fidelity IRA account for my retirement savings. How do I set that account properly up and how do I book contributions to that account properly? I originally set it up as a "long Term Asset" account but it does not appear on the list of accounts to record a transfer

Barsin

Hey there @Fritzmar

I may need a bit more detail from you with what exactly you're looking to do.

Would you mind giving me a use case scenario of what this sounds like in real life?

You're going to want to set up a cash and bank accounts under Accounting > Chart of accounts > Add a new account > Cash and bank account. This is the way you can create transfers to and from this account!