Capture Every Dollar That Comes In
Not all income comes from invoices. Bank interest, rebates, internal transfers, and other miscellaneous receipts still count towards your revenue. Other Income lets you record these non-billed amounts so your financial records stay complete and accurate.
What Counts as Other Income?
Other income refers to money your business receives that is not from customer invoices. Common examples include:
- Interest Income from bank accounts or fixed deposits
- Bank Rebates such as cashback or promotional credits
- Internal Transfers between your own accounts or entities
- Refunds from suppliers or service providers
- Miscellaneous Revenue like scrap sales or one-off payments
Before You Begin
To record other income, you need at least one payment account set up in Officaid. This is where the income will be deposited.
Adding Other Income
- 1 Go to Finance → Income
- 2 Click the Other tab
- 3 Click the + Add New Income button
- 4 Select the Payment Account where the money was received
- 5 Enter the Amount and select the Currency
- 6 Set the Date the income was received
- 7 Toggle Taxable if tax applies, then select the tax rate
- 8 Choose a Category to classify the income type
- 9 Add optional Remarks to describe the income
- 10 Upload a Receipt if you have supporting documentation
- 11 Click Add Income to save
Adding a Custom Category
If the available categories don't fit your income type, you can create a new one directly from the form.
- 1 Click the Category dropdown
- 2 Click + Add New
- 3 Enter a Category Name
- 4 Add an optional Description
- 5 Click Add Category
Your new category will be selected automatically and available for future income entries. Note that system categories like Interest Income cannot be edited or removed.
Understanding the Fields
- Payment Account is the bank or cash account where the income was deposited
- Amount is the total received (inclusive of tax if taxable)
- Currency defaults to your company's base currency but can be changed
- Date is when the income was received, defaulting to today
- Taxable enables tax tracking if the income is subject to GST or other taxes
- Category helps you classify and report on different income types
- Remarks is a free-text field for additional details
- Receipt allows you to attach supporting documents
Editing or Removing Other Income
To modify an existing record, click the pencil icon in the Actions column. From the edit form, you can update any field or click Remove Income to delete the record entirely.
Exporting Other Income
You can download your other income records as an Excel file. Use the date filter to select the period you want, then click the Download button.
Frequently Asked Questions
Invoice income comes from billing customers for goods or services. Other income covers everything else, like interest earned, refunds received, or transfers between accounts. Both contribute to your total revenue.
In the Other Income list, click the link icon in the Receipt column to download the attachment directly. You can also click the pencil icon to open the record and view or download the file from there.
Yes. Toggle the Taxable switch to enable tax fields. This is useful for income types that may be subject to GST or other taxes, such as certain rebates or service fees received.
What's Next?
Now that you know how to record other income, explore these related guides:
- Managing Payment Accounts - Set up accounts to receive income
- Creating an Invoice - Bill customers for your services
- Finance Reports - View income summaries and trends