How to record unrealized investment gain?
a, It's a private corporation in Canada.
b, I already have a Business Bank account in QuickBooks Online.
I opened a managed investment account in Questrade, and transferred $6000 from my business bank account.
In QBO, I created an account "Questrade Managed Account", of the type "Long-term Assets - Investments".
So I recorded the transaction as a "transfer" of $6000 from the business bank account to the Questrade managed account.
Question 1: Is this process correct?
At the fiscal year end, the value has increased to $6234. I didn't take it out, so I assumed the gain of $234 is unrealized.
Question 2: Do I have to record such unrealized gain in QBO?
Question 3: If I have to record it, how should I do it properly?
Thanks in advance!