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October 6, 2024
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Money market account = how to categorize

  • October 6, 2024
  • 1 reply
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I recently got a business money market account through Fidelity.

When I sync my transactions and go to import them, it shows the money market re-investments as negative dollar amounts and wants me to specify a category.  But I don't think there is one - the money is staying in the account, but QB thinks it's going somewhere else.  Maybe I'm setting this up incorrectly?

Sorry this is probably super lame and specific only to me but I'm not even sure where to start to ask anyone anywhere. Thank you for any help you can provide!!!

Best answer by Rainflurry

@jenniferduffinsc 

 

It's not a lame question at all.  The interest earned on a MMA is income so the proper category would be your Interest Income (Other income) account.  

1 reply

Rainflurry
October 7, 2024

@jenniferduffinsc 

 

It's not a lame question at all.  The interest earned on a MMA is income so the proper category would be your Interest Income (Other income) account.  

October 7, 2024

Thank you!