From: Luke <sl...@li...> - 2008-04-17 05:16:02
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This is an accounting question... How are people handling interest payments (incoming), such as from the PayPal money market fund? I have a PayPal account (configured much like a checking account) in the COA, and my plan to date is to just use an AR transaction for each interest payment I encounter while back entering, just as I plan to use an AP Transaction to vendor "PayPal" for credit card charging fees they assess. So, once I know how much PayPal has paid for that period, I can post an AR transaction for that amount, including a payment. However, if there is a more reasonable way, which does not involve so many AR transactions, I'd be interested in hearing about it. I say "so many", because PayPal is not the only such account we have which does this--some checking accounts do it, as do stock trading accounts. Speaking of stock trading accounts: is anyone here tracking a trading account in SL, and if so, what are some of the practices you use for recording transactions in it? Thanks Luke |