Hello
My portfolio is for an Australian self-managed superannuation fund or SMSF. This is a trust that holds the investments on behalf of the beneficiaries.
The trust incurs expenses related to the fund assets e.g. insurance premiums for physical assets such as property. I want to record these not only to capture everything in one place as a record but also to ensure the default cash account reconciles.
I saw a 2007 post that said the easiest way to do this is to record a redemption for the default cash account for each payment. Just checking if this is still the best way to capture such transactions?
Thanks