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Status Answered
Created by AgExpert Support
Created on Feb 14, 2018

Disqus Agexpert Accounting Questions Archive

How do you post interest to a Canola advance? This interest is not paid.

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Debbie!

    In your transaction entry screen, you are going to do a Withdrawal. Enter your date, reference, and description, but leave the total as 0.00.

    In your first line, claim the amount of the CCGA advance interest as an expense. You will need to make sure to type in the amount of interest in the right spot. Create a second line.

    On the second line, set your type to L+, and select your CCGA Advance. This should auto balance, and add to the amount owing on the loan. Record the transaction to complete.

    I hope this helps!

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