Accounting treatment for bank switch incentive payment?

Question asked by Richard Martin 6 years ago

I've just switched business bank accounts and will receive an incentive payment from my new bank into my new business bank account. How should I treat that in my sole trader accounts in Clearbooks? Is it treated as income, bank interest or...?

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Hi Richard,

We do not have a specific account code for this I am afraid, though you could create one if you needed to. However, i would advise speaking to an accountant prior to doing this just to ensure the correct way of recording this payment.

Kind regards,

Mohamed Elbediwy.

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6 years ago

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