Hi, We recently opened a savings account to run alongside our 4 main bank accounts.
We have sent a large amount to the savings account in order to receive interest from this sum.
How do we go about tagging/allocating this in order to be able to report on any interest received for our end of year accounts?
First, you would need to create the savings account in the same way you created the current accounts on your QuickFile account.
Next, you enter the transfer amount in your current account and mark it as a transfer between accounts to your savings account.
Then, once you have received an interest payment, you tag this as “Something else not on the list” and select the nominal code for “Bank interest paid”
I hope this helps, but if you have any further questions, please don’t hesitate to ask.
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