Re: [GNC] How-to question: CD Interest payments deposited in

This is correct.  I have, however, found it useful to create an income account for each entity that will send me a tax document (in the US, a 1099 of one or another ilk). Then, having set the accounts as tax-related, the Tax report shows me figures that match those separate 1099s. This makes ye

Re: [GNC] How-to question: CD Interest payments deposited in

On Tue, 19 Feb 2019 05:23:19 -0600 (CST) David Cousens wrote: > Why should the interest have any connection to the CD account? This > would only be applicable if there was a dividend reinvestment for > example as with share/stocks. This is the only time a dividend would > increase your stock asse

Re: [GNC] How-to question: CD Interest payments deposited in a different account

You shouldn’t need to have separate accounts for each. Since you can specify the source using the description, notes, or memo, you can run reports showing the info you need to determine the source of any funds. It is usually rare to need special accounts for singular purposes, general accounts u

[GNC] How-to question: CD Interest payments deposited in a different account

Thanks all who replied, and so quickly, too. I think Dale pretty much nailed it, about over-thinking the problem. Or perhaps more accurately, failing to think about it in a new (gnu?) way. Since the interest payments originated with the asset (the CD), I assumed that the payments should first appe

Re: [GNC] How-to question: CD Interest payments deposited in

Subramanian, It may help the OP Art Chimes. We have possibly confused him by going a bit off topic onto side issues. I use the approach you have illustrated when i wish to track income to a particular asset but it has the shortcoming of leaving an empty account after the CD matures. The CD is the

Re: [GNC] How-to question: CD Interest payments deposited in

Hi, Would this video in youtube help ? Regards, Subramanian V. On Wed, Feb 20, 2019 at 10:03 AM David Cousens wrote: > David, > > I was/am unsure by what you mean by "connecting" a dividend to a stock or > in > Art's case an interest payment to the

Re: [GNC] How-to question: CD Interest payments deposited in

David, I was/am unsure by what you mean by "connecting" a dividend to a stock or in Art's case an interest payment to the asset it derives from. One could establish a connection in a number of ways( using the description fields for example but this would not be followable). Are you thinking of so

Re: [GNC] How-to question: CD Interest payments deposited in

I don’t think you need individual income sub-accounts, rather a more generic one could suffice and put the detail info either in the description, notes, or memo lines as appropriate for the situation. This would allow you to see why you received that money, but you don’t necessarily need to see

Re: [GNC] How-to question: CD Interest payments deposited in

I think the below paragraph more accurately describes how to handle what I was referring to as ‘undeposited funds’ and likely better fits this particular model rather than trying to shoe-horn into some generic structure. > On Feb 19, 2019, at 5:23 AM, David Cousens wrote: > > > Accrued divide

Re: [GNC] How-to question: CD Interest payments deposited in

David, The income derived from that CD, so that's why I imagine he'd want the connection.  Moreover, I don't think it's unreasonable for someone with stock holdings to want to see the dividends associated with a given stock. Using income subaccounts for each security breaks down when you either

Re: [GNC] How-to question: CD Interest payments deposited in

David, Why should the interest have any connection to the CD account? This would only be applicable if there was a dividend reinvestment for example as with share/stocks. This is the only time a dividend would increase your stock assets rather than your cash assets. For a cash deposit you either

Re: [GNC] How-to question: CD Interest payments deposited in

For my purposes I find it sufficient to embed the source in the description. With mutual funds and stocks I can use the symbol or part of the name, e.g., OAKIX dividend. For CDs an identifier would need to be constructed from the bank name and an identifier for the particular CD. One could create

Re: [GNC] How-to question: CD Interest payments deposited in

Adrien (and Dale and David), Each of you correctly suggests a transaction from an income account to the checking account.   However, I suspect that underlying Art's question is the idea that this transaction will not have any connection to the original CD account. When he calls up the CD regist

Re: [GNC] How-to question: CD Interest payments deposited in a different account

Perhaps you are over-thinking this. I would create an income account with a name such as "CD interest". Each month create a transaction Credit CD interest $x Debit Checking $x where $x is the amount of interest paid for the month. Dale On Mon, Feb 18, 2019, 11:06 PM Art Chimes I have been tryi

Re: [GNC] How-to question: CD Interest payments deposited in a different account

Art, The transaction is pretty simple Debit Credit Asset :Bank:Checking Income:InterestCD Where under the Income top level account the account to record the interest should be locate

Re: [GNC] How-to question: CD Interest payments deposited in a different account

Art, Welcome to GnuCash! Someone more familiar with your exact scenario can help you better, but do you need to record the interest in the CD account at all? Unless there is a time delay between when it is earned and deposited I’d just record the transaction between an income account and the c

[GNC] How-to question: CD Interest payments deposited in a different account

I have been trying to learn GnuCash for several months now, and I am apparently dumber than I thought. I am pretty good at keeping my checking account, but I find more complex actions more challenging. For example, I bought a CD (cert. of deposit) last year, and it resides in my brokerage account.