DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Recording bank account interest


#1

We have a bank current account that pays interest; how/where should I record the interest paid as presumably it is classed as income?

I’ve resolved this now myself - sorry to trouble anyone :slight_smile:


#2

That’s great you resolved it!

For those who are in a similar situation, care to share what you did please?


#3

I clicked on BANK ACCOUNT, selected EDIT CURRENT ACCOUNT, selected RECEIVE MONEY.
Entered the receipt details, and under ‘ACCOUNT’ I selected INTEREST RECEIVED etc. then saved. When you know what to do it’s quite easy, it’s knowing where to start and I’m a complete newby to accounts.


#4

Could anyone she any light on how to record interest received in a current account? i have followed the above advice but there isn’t a RECEIVE MONEY option.


#5

I clicked on BANK ACCOUNTS, then open the account I wanted, and there where the RECEIVE MONEY, SPEND MONEY, TRANSFER MONEY AND IMPORT BANK STATEMENT tabs are.
I allocated it to RECEIVE MONEY - then allocated it to the following ACCOUNT - INCOME - INTEREST RECEIVED account.
I cant be sure if the interest account is a default account under income or if I had made it.


#6

I believe @joolshicks mis-stated the process slightly. Rather than clicking on Edit for the account involved, click on the blue figure under Statement Balance. That is where you will seethe spend, receive, transfer, and import buttons.


#7

Open Manager

Under the BUSINESSES tab you should see a window where on the left hand side of the window there is a list of options you have set up such as:
Bank Accounts
Customers
Sales Invoices
Suppliers
Purchase invoices
Credit notes
Payslips etc.

Select BANK ACCOUNTS to open up the list of bank accounts you have registered there (I only have one).

Select the bank account you want to work with; in my case it was my BUSINESS CURRENT ACCOUNT (don’t click the edit button, click the blue name of the account)

It should open a window which looks similar to your bank statement i.e. monies in and out and it is in that window there are buttons for RECEIVE MONEY - SPEND MONEY - TRANSFER MONEY - IMPORT BANK STATEMENT. It is here in this window that you select receive money and enter the interest you’ve received.

Hope this helps


#8

That’s right, it was the blue link for the bank account not the EDIT.


#9

Even, I too not able see the spend money receive money button… When selecting bank account… C
I am using manager.io 15.0.93


#10

You are pretty far out of date–almost three months. The exact process changed a few dozen versions ago. So…update to v15.2.3. Then I think the process described earlier in this thread will make sense.