Accrued Interest Paid on Purchases

[tjmom2]

In Proseries how do I enter Accrued Interest Paid on Purchases of stocks in excess of Interest earned?

Thanks

[sjrcpa]

It offsets next year's interest income. Make yourself a carryover note.

[sjrcpa]

Theoretically you are supposed to match up each payment with the particular bond.

[tjmom2]

So do I make a separate interest income entry for each bond and then adjust each one?

[sjrcpa]

I don't.

I make one  entry for this year's offset but my workpapers have it by bond.

I make a carryover schedule for next year's offset.

[tjmom2]

Thank you

[sjrcpa]

You're welcome.