Hi there
I’m unsure as to how to tag interest from a business savings account. I’ve recently started using one that I opened some time ago but there doesn’t seem to be a category to tag this to. Does anyone have a method for tagging interest please?
Many thanks in advance,
Best regards
Mark
Something not on the list → misc income (or create some other code from your chart of accounts in the “sales” range and use that instead).
In particular you should not treat interest as “payment from a customer” as that would create a sales invoice for it (and include it in your VAT return, if you are registered for VAT).
Thank you Ian. I’m trying to avoid that!
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