Savings account and interest earned

ytayta Member Posts: 2

Hi,

I gained some interest in a savings account, Wave categorized that as 'uncategorized income'. What's the right way to reconcile this?

Thanks!

edited February 12, 2019 in Accounting

Comments

  • MikegMikeg Member Posts: 292 ✭✭✭

    You can create an income account under your chart of accounts called Interest Income.
    Mike G, CPA
    www.mgfinancial.net
    Better Service - Better Pricing

  • ytayta Member Posts: 2

    Thanks Mike, that's what I did, I wonder why this is not a predefined income account in Waveapp.

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