How to properly categorize a payment for property damage to my business?
I did not go through my insurance company for the damages. I actually have 2 payments that I need to categorize. One was for damage that was done to the building, and later in the year I had damage done to my light pole. Once again, neither one of these went through my insurance, it was paid from the other companies. So how do I input this in QBO? Do I show it as income? If so, doesn't that inaccurately reflect my actual income for my restaurant? Thanks in advance for any help.