Add Interest to a Savings account

@LCUUF  Interest Earned (Interest Income) should be created as an Income or Other Income account.

When you go to the Deposit function, you'll want to:

A) Select the Savings account as the account being deposited to

B) Select the Interest Earned account as the source account. Probably the column labelled something similar to From Account

C) Fill in the amount and date fields as relevant

When you create this transaction, two things happen.

First, the Savings Account balance increases by the amount of the interest earned, presumably $10.00.

Second, the Interest Earned income increases by presumably $10.00 as of the date selected.

Incidentally, if you ever get money refunded to you by ACH, this exact process can be used to recognize the increase in the relevant bank account balance and the decrease in the relevant expense or, as applicable, an increase in the relevant liability account.

For instance, returning cleaning supplies for a refund would lower your cleaning supplies expense while raising your bank account balance.

On the other side, a loan payment being returned would raise your remaining loan liability while also raising your bank account balance.

In short, you don't need to enter the interest earned into an account as if it were something you were going to transfer over to a bank later.

Instead, you're recognizing the income in the same action as making your deposit.