 Okay, so now let's just take a quick look at some of the issues with regards to investments. Now if you're a business and you have money in the investments, then you have a question of how you're going to report later income or increases and decreases in the investments. So if you're invested in, say, stocks and bonds, for example, then you're going to get dividend income and you're going to get interest income. From a logistical standpoint, you might receive the dividend income and investment income and it might then go into the checking account. If that happens, you might have your bank feeds set up and then as you receive those items, you're going to record them to income on the income statement. When you record those things to income, oftentimes you might not want to put them as normal income at the top of the income statement, but rather at the bottom of the income statement as other income. Why? Because that's not what you normally do in this business for income. This business is selling guitars and whatnot and therefore the investment income is at the bottom because that's just some random income we've got that isn't part of our principal business. So that's the first thing to kind of note. Also, you might roll in the income and reinvest it as you receive the income, which makes it a little bit more complex to record automatically because you're not going to get the bank feeds that are showing you the income as they come in. You'll see them periodically as you check your investments. So then the question is when do I check my investments and how do I alter or adjust my investment accounts as the investment changes over time? Do possibly to the dividends and interest that are accumulating and possibly due to the fact that the underlying stock is changing in value. So one thing to note that QuickBooks is not here. It's not the kind of software where you're going to track the day-to-day investments in the stocks and help you for day-to-day trading. There's other software that you can do that. It's also not a software that's going to be updated. You know, you can't connect it. You might think, well, can't I connect it to my online financial institution like a Vanguard or an eTrade so that it updates other software does that and it's true other software does that, right? So it increases your balance to the market rate. QuickBooks doesn't do that because QuickBooks is an accounting software. The accounting software is designed not just to have the balance sheet balance correct at any given time, but to record the transactions related to it. So you want to record if there was an increase due to income or capital gains, then you're supposed to record the income to get and then double check that the balance matches what is on the statement like you do with a bank reconciliation. You wouldn't want QuickBooks to tie into your bank and say, yeah, there's 128,000 in the account and just change this number to be whatever that is. Why? Because then you wouldn't have entered all the transactions using the double entry accounting system, which are recording and creating the income statement oftentimes. So QuickBooks isn't designed to just make a balance sheet based on what the financial institutions say. It's designed to pull in the transactions possibly to double check all the transactions so that once they are entered, you end up with the ending balance. Now, there is other software. There's like a personal capital, I think has one. I think TurboTax used to be owned by Intuit, but someone else owns it. I haven't used it since they left Intuit, so I don't know much about them at this point. But there is other software that can connect to the financial institutions and just give you a balance, at least per financial institution, and that's kind of nice. So you might actually use both of those tools, the software that gives you just like a snapshot of where you are at, a balance sheet, and then QuickBooks, where you have to adjust from time to time and then record the related income as you make those adjustments. And then you could also use some software that tracks more regularly, possibly just using the platform themselves, E-Trade or a Vanguard or your bank, in order to track the day-to-day activities within a particular fund. So that's something to just be aware of. So for QuickBooks, you might then update it on a monthly basis, and you might go in here and look at your statement, and if it went up, it's going to go up for multiple reasons. You might reinvest the dividends and interest, and you might have capital gains, or it might go down. You might have capital losses. Then the question is, should I adjust this account to the current value? Let's say it was just capital gains. Let's say I'm getting the dividends and interest as income, recording them as income, and then this amount is changing to the statement due to due to market value fluctuation. Should I record that market value fluctuation, or should I keep this at the standard amount at cost? Because you'll note with equipment, we usually keep it at cost. And the argument for the equipment is, the equipment is unique. And so your wear and tear on the equipment is unique. It's an estimate. But if you're investing in market stocks and bonds, they're equivalent to all other stocks and bonds. So at least at that point in time, you know exactly what the value is. So there's actually a good argument then to make the adjustment to market value here, where the argument isn't quite as strong to adjust like your equipment to market value, because you don't know exactly what the market value is. Here you do know what the market value is, even though the market might be wrong in terms of the long term. So then you could adjust it. If you look at the like generally accounting accepting rules for adjusting, there's different rules in terms of whether you're going to hold it short term or long term and whatnot. I'm not going to get into that in detail. I'll just kind of discuss the different ideas you might use. If you say, okay, what if this went up by a thousand, then if you're going to, and we'll do this in the adjusting entries, your issue is going to be, well, if it goes up by a thousand, what am I going to do? Is there a form I can do to record that transaction? No, because there's no, that's not a normal transaction in our accounting process. So we might have to just use a journal entry, which I would think would be an adjusting journal entry that you might do at the end of the month when you get the statements. And you might then increase this if it went up by a thousand. Where's the other side going to go in the double entry accounting system? There's two options. You could create another account in equity that would be the other side, which would record the unrealized gains and losses. That's not usually the easiest method that kind of confuses things. Most people will just write it off to the income statement, meaning income. It's unrealized income. So you might call it unrealized income because you haven't yet sold the stock. And once again, you probably wouldn't put it on the top of the income statement, but rather on the bottom of the income statement as other income, because it's not part of your normal operations. So we'll talk more about that when we get to the adjusting entries. I just also want to point out that if you have your investment here, unlike your personal, say you're using QuickBooks for your personal investments, then the question is, well, how should I break out my investments? Like if I have investments in a whole bunch of different mutual funds or even stocks, should I list out all the stocks in QuickBooks? And generally the answer is no, right? Because that's too much detail. You want to get into all that detail in the software, like at E-Trader, Vanguard, and QuickBooks should give you a summary of where you stand at any given point in time. So one method you might use is if you might use big group categories, like these are my investments in stocks, these are my investments in bonds. That's one way you can do it. Although many people invest in 401k plants that have both stocks and bonds within them, so it's difficult to do that. Another method you might use is that you might record an item per institution. So if you're investing in multiple places, like a Vanguard, an E-Trade, and your bank or something, then you might just say, I'm going to create an investment account and then have a sub-account per institution and just adjust your overall balance on a per institution basis, having all the detail then with the Vanguard statements and possibly with like a personal capital or a quick end kind of report as well to supplement your more detailed investment kind of strategies so that you have an overall investment here.