Where do i record an annual bonus that we have received from the bank ?

sales35 · ‎August 05, 2019

Hello , The bank we are with gives a bonus of £25.00 once a year , where and what what category do i record this please ?

Rustler · ‎August 05, 2019

Do a deposit for that amount and use the other income account as the source account for the deposit

sales35 · ‎August 05, 2019

Thank you for your prompt reply. Are you able to advise what i select from the drop down that has the following ?;
No VAT (0% Sales)
No VAT (0% Purchases)
20.0% S (20% Sales)
20.0% S (20% Purchases)
Exempt (0% Sales)
Exempt (0% Purchases)
0.0% Z (0% Sales)

Rustler · ‎August 06, 2019

Sorry I can't help with VAT, we don't have it in Texas

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Where do i record an annual bonus that we have received from the bank ?