I have some cash in my business reserve account. Went online this morning to check one or two things and noticed that the reserve account has been credited with a little bit of interest. Would like to check what QF entries will be required (in double entry terms). I know one leg will be to Dr my business reserve account, but am not sure about the Cr entry. Any assistance would be appreciated. thank you.
I would suggest adding a nominal code under sales ‘Interest Received’ and from the bank tagging area tag as “Something else not on the list” and post to that new nominal.
Hello to all,
I red this and other on the subject conversation, and trying to do what you suggestion, but this is what I get:
Do I muddled up with something?
Hi @IrMa
That seems OK to me, with the exception of your ‘Reference’ box. You would just need to enter something in there, something like ‘Bank interest received’.
You may also wish to create a new nominal code as per @Glenn’s post above to keep the interest separate from the rest of your income.
THANK YOU
I have created separate account as you suggested - it is worked this time 
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