I have a tiny cashback entry in my bank feed (only 5p!).
I have no recollection of which purchase would have generated it and there is nothing in the bank feed to say where it came from (apart from an implication that it is 1%). I can’t see a likely purchase of around £5 to which it would relate.
Just wondering how to tag it to keep the system happy…?
Hi @Magicbean,
You can leave it untagged until you know what it relates to, you may find there is more information on your actual bank statement if you log into your open banking directly?
There is no harm in leaving it untagged. I wouldn’t like to say how to approach it otherwise, you could tag it as bank charges or interest but you may be best to speak with an accountant to make sure that you are accounting for it correctly.
EDIT: There is an option to tag something as Misc Income, so you could use that option?
Hi @QFBeth,
There’s no more information available in the bank account. There is a reference number but it doesn’t match any other number so it’s no help.
I tagged it as Miscellaneous Income (4900) as you mentioned - I’ll just tell my accountant at the end of the year. I was worried that if I didn’t have it tagged as something by the time I did my VAT return, it would become uneditable afterwards.
Thanks for your help.
Visa has been giving cashback on transactions recently - I had a similar situation and tagged it to the bank fees nominal code
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