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ranjit-reel
March 12, 2019
Solved

How do I record a cashable GIC?

  • March 12, 2019
  • 1 reply
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Best answer by qbteachmt

You bought a new Asset with money from the bank, so asset = asset for the accounting. The Check is not posted to Expense, but to Other Asset.

1 reply

qbteachmt
qbteachmtAnswer
March 12, 2019

You bought a new Asset with money from the bank, so asset = asset for the accounting. The Check is not posted to Expense, but to Other Asset.

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