I’ve got a really complicated situation, in my eyes, and I haven’t got a clue how to tag this bank statement line. I’ve changed and rounded the amounts for simplicity but my details are as follows:
I have imported a single bank statement line with a large amount received from my Solicitor.
Bank Statement line: From Solicitor: Credit £20,700
This amount received consists of the following:
Compensation won for negligence against another solicitor: £25,000
Refund from solicitor of my earlier prepayment/proforma payment which was never allocated: £500
Fees for services of solicitor in this case (NET): £4,000
Fees for services of solicitor in this case (VAT): £800
The original prepayment/proforma payment which I paid a few months back is tagged as a prepayment and not allocated to any invoice.
If anyone can give me guidance how I can tag this £20,700 bank statement credit I would be very grateful and indeed impressed!