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How do I attach an accrued income item to a producing asset?

If the accrued income is includible in the initial inventory:

  1. Choose Accounts menu > Initial/Supplemental Inventory.

  2. In the Account Category selection box, choose Accrued Income Receivable.

  3. In the Asset Accounts selection box, choose Create New Account.

  4. Select the Producing Asset Category and Name for the asset that produced this accrued income.

  5. Type the amount of accrued income in the Income Amount and/or Principal Amount fields.

  6. Click Done.

If the accrued income is acquired after the inventory date, you can create an accrued income account in Cash Disbursements:

  1. In the Classify As … selection box, select Asset Purchased.

  2. In the Asset Purchased Category selection box, choose Accrued Income Receivable.

  3. In the Asset Purchased Name selection box, choose Create New Account.

  4. The Add New Account dialog will appear.

  5. Type a name for the new accrued income account in the Account Name field.

  6. Edit the Account Description field as needed.

  7. Select the Producing Asset Category and Account for the asset that produced this accrued income.

  8. Click OK to accept, or Cancel to disregard the changes. The Add New Account dialog will close.

  9. Type the amount of accrued income in the Amount (Debit) field.

  10. Complete other fields as required.

  11. Click Accept.

Click Done.

 

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