Record income from a deposit
Count money that came in without an invoice, such as a cash sale, interest or a grant, as income straight from the bank line.
Most money in is a client paying an invoice. Some is not: a cash or debit sale at a market, bank interest, a government grant, a tip on top of an invoice. Record Income turns that deposit into income in one step, so your profit and loss and your GST/HST figures include it.
Step by step
- In the menu on the left, choose Banking.
- Find the deposit in Transactions and choose Match.
- At the bottom of the Match Transaction window, under Record Income from This Deposit, choose the Client if there is one, or leave it as None.
- Choose the Category.
- Choose the Sales Tax you charged, or No tax. The line under it shows how the amount splits into tax and income.
- Choose Record Income. A message such as "Income recorded as INV-0042" appears and the line shows as Matched.
What each box means
| Client | Who paid you, if you know and it matters. A client is not needed for interest or a grant. |
|---|---|
| Category | Sales, Services, Interest, Grant or Subsidy, or Other Income. It is written on the income's line so you can see later what it was. |
| Sales Tax | The GST, HST or other tax included in the deposit. The deposit already includes the tax, so Todah works the tax part out of it. Interest and most grants have No tax. |
What Todah records
- A paid invoice, numbered in your normal invoice sequence, dated the bank date, for the amount of the deposit (or what was left of it, on a part-matched line). It shows in Invoices as Paid.
- One line reading the category and the bank's description, for example "Sales: DEBIT SALES DEPOSIT".
- Its notes say "Recorded from a bank deposit". It has no Pay button and is not emailed to anyone.
- It counts as income on your profit and loss, and its tax counts as tax collected on your sales tax report. The line records the tax by name (for example HST), just like an invoice you type in, so it lands on the right GST/HST return lines.
Changing your mind
Choose More actions → Unmatch on the line. Todah removes the income it recorded (the invoice is deleted, because it existed only for this deposit) and says "Unmatched. The income it recorded was removed." The line goes back to Needs attention.
Good to know: If the deposit is a client paying an invoice you already sent, match it to that invoice instead. Recording it as income as well would count the same sale twice.
See also
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