Category for Cashback?

Accounting
1

I have received a £50.00 cheque from a formation company, as there was a £50 cash back offer on when I opened my bank account. How do I account for this?

Thanks

2

that will be other income

3

You can just tag it straight from the bank directly to a nominal code, using the option “something else not on the list”. There should be a nominal code for “other income”.

4

Thanks very much! There isn’t one for other income but there is other creditors and other debtors. is this what you are referring to?

5

You can use ‘Miscellaneous Income’ (4900), that would suffice.

6

Brilliant, fantastic response as usuall! :smiley:

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