Interest charges are explained but not interest payments.
For interest payments
Do we go into "Money Received", (creating the name of the bank as a customer or supplier). Or.
Do we use use General Transactions?
(We use from Bank Interest to Check Account)?
Hi Robert,
Either method is fine. If you record it as a Money Received transaction and are VAT-registered, be sure to set the VAT Treatment to 'Out of Scope'.
Regards,
