In this article, we will guide you through the process of how to enter General Investment Income. The following income categories are available:
| General Investment Income | Property Income |
|---|---|
| General Taxable Income | Interest on Deposit |
| Non-Taxable Income | Interest on Late Settlement |
| Other Rental Related Income | |
| Rent from Property |
To process rental income for a property please see our Processing Rental Income article.
Navigate to fund level > Transactions > Fund Income > General investment income
- Select the investment account
- Select the income type from the drop-down menu
- Enter a description (default is Investment)
- Enter the date income is recorded
- Enter the gross amount
- Enter any GST if applicable
- Calc button (will automatically calculate GST)
- Displays the amount of GST claimable (will automatically populate)
- Displays the net amount of the income (will automatically populate)
- Additional Details (displays information relating to the income such as Tax Deductibility and GST category/ GST registration)