Question

Certificates of deposit

What account type should I use for a CD?

When it matures, how do I zero it out?

Well, it's an asset, more or less same-as-cash, so it should either be an asset or a bank (cash) account, I'd think.

When you're paid the principle and interest at the end of the term, transfer the amount you received to whatever account you deposited it into.

Thanks for the feedback. In Account Type," I decided to make it an "Other Current Asset."

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