expenses

How do I record the investments I’ve made in mutual funds?

To record the investments you’ve made in mutual funds, you need to create an account to track the investments. Here’s how:

  • Go to Accountant on the left sidebar and select Chart of Accounts.
  • Click + New Account in the top right corner of the page.
  • Enter a suitable Account Name.For example, Mutual Funds.
  • Select Other Current Asset as the Account Type.
  • Enter the Account Code and provide a short Description for the account if required.
  • Click Save.

Now, to record the amount you’ve invested in mutual funds, you need to create an expense. Here’s how:

  • Go to Purchases on the left sidebar and select Expenses.
  • Click + New in the top right corner of the page.
  • Select the Expense Account (Mutual Funds in this case).
  • Enter the other necessary details.
  • Click Save.

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