Hi,
Made our first crop insurance claim last year and rec'd a chq from them. How do I record this?
Is it simply a deposit and income? But under insurance proceeds or insurance payments?
thanks
Hi Don & Anna,
It would be entered a deposit to your bank, type income (provided your accountant is okay with this). I think it would be better to create a separate detail or sub-account called crop insurance (and then the name of the insurer). I hope that helps!