Bounce Back Loan Filing - Interest and Rebate

Accounting
1

Hi,

In my bank statement, there are 2 lines being created every month:

  • Bounce Back Loan Interest
  • Starling Loan Interest Rebate

If we add up the amounts, it will be 0. (There is no interest for this loan if I pay it back in the first 12 months.)

How should I tag these entries?

Also, I’ve done what Ian Roberts mentioned in this thread: How do I record the bounce back loan?

Should I ingore these lines I’ve mentioned above then?

Thanks.

2

Hi @Mark_Kajdi

You could tag both of these entries directly to the nominal of “loan interest paid” or you can delete the transactions. But if you want QuickFile to be a true reflection of your bank account then it may be best to tag them.

Hope this helps :slight_smile:

1 Like
3

This topic was automatically closed after 2 days. New replies are no longer allowed.