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userbrickproject-uk
November 3, 2021
Solved

Hi all. Our business bank account recently sent us some compensation to say sorry for poor service. Any ideas how this should be categorised please? Thanks so much.

  • November 3, 2021
  • 2 replies
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Original commenter did not share additional details
Best answer by MarkAg

I am not a qualified accountant. I just had this exact question myself and asked our accountant. They set up a new category: 'Other Sundry Income' and used 'No VAT (sales)'. Make a note in the memo what the income was for. 

 

 

2 replies

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Ashleigh1
November 3, 2021

Hello Userbrickproject-uk,

 

Welcome to the Community page,

 

We would advise you speak to a trained and qualified accountant who would be able to help and tell you what it needs to go to as we are not trained accountants just technical support. 

M
MarkAgAnswer
November 3, 2021

I am not a qualified accountant. I just had this exact question myself and asked our accountant. They set up a new category: 'Other Sundry Income' and used 'No VAT (sales)'. Make a note in the memo what the income was for. 

 

 

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    userbrickproject-ukAuthor
    November 3, 2021

    Thanks so much, we really appreciate your input. That sounds like it's about right. Have a lovely evening. 

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