Other Income
Overview
This section is designed to allow you to enter details of annual payments received in each accounting period. The
Other income (annual payments)
sheet needs to be inserted.Completing the Sheets
Where you have identified amounts you want to be treated as other income (annual payments) within the
Income statement
, you should analyse these from the Expense and income analysis
or Management expense analysis
sheet in which they arose. Select Other income (annual payments)
from the Analysed as
dropdown list on the row, and develop the Other income (annual payments)
sheet by selecting Insert sheet
from the Insert
menu. An error will show on the sheet until this has been developed.If income tax has already been deducted from the amount received you will also need to develop the
Income tax suffered
schedule. Once this sheet has been developed an additional column will be available to you so you can account for any income tax suffered. The sheet lets you include those amounts which are received within the period but may differ from amounts shown in the Income statement
.The
Business
dropdown at the end of the main table appears if you have more than one Business (trade or property)
and lets you allocate the annual payments to the correct business.