Investment income

Question asked by Adrian Sutton 8 years ago

I'm trying to use the 'Money In' facility to explain receipts into a share dealing a/c that I have as one of my CB 'bank' accounts.

Previously I've just done it with Journal entries (Investment Income on the CR side, bank a/c on the debit side) but as I want to use the Import facility to do a whole load in one go from a CSV file, it seems the 'Money In' way is supposed to be the thing to do..

Trouble is: the first field is the "From" field, which is filled from the list of my customers.. but of course there's no 'Customer' as such, since there are no invoices involved.. it's just investment income.

What should I be doing?

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3 Replies

Hi Adrian - I have several clients with similar setups who use a dummy bank account to record a mass of transactions and, as John says, they use a generic entity.

Strictly, in your case, the entities are the buyers of your investments or maybe the providers of income such as dividends or interest. If there's no need to differentiate differing types of income, I'd just use "investors" or a similar simple description.

Best answer
8 years ago

Hi Adrian,

Explaining money in (or money out) always requires an entity, as when completed the system generates a paid invoice pre-fixed REC.

The entity you use does not strictly have to be an actual customer - you can create generic customers to explain multiple transactions or the customer as a name to describe the transaction.

The only way to create a transaction in the system without an entity is as a journal.

8 years ago

Hi Adrian - I have several clients with similar setups who use a dummy bank account to record a mass of transactions and, as John says, they use a generic entity.

Strictly, in your case, the entities are the buyers of your investments or maybe the providers of income such as dividends or interest. If there's no need to differentiate differing types of income, I'd just use "investors" or a similar simple description.

Best answer
8 years ago

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