Bank compensation fee


I have recently received a credit to my business account from the bank itself. I lodged a complaint and it was their way of compensating me.

I have input a new ‘money in’ transaction under the current account screen and used the nominal code for goodwill however my balance sheet shows it as a liability. Is this correct?

Thanks in advance


Goodwill is more something you purchase when you buy another business. I’d have tagged it as miscellaneous income or something like that, or maybe you can treat it as a credit against your bank charges (ask an accountant if you want a proper opinion).

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Knock it off against bank charges

I’d say that counts as a proper opinion :wink:

lol defo. At present I receive free banking. does that change the answer?

Other Income will do

thank you both for your help :slight_smile:

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