Other income / expense
Money earned or spent outside normal operations: bank interest earned, interest paid, penalties, reconciliation discrepancies.
In Solo Superstars
The 8000s (other income) and 9000s (other expenses) sit below operating expenses on the Income statement so they do not distort how the core business is doing.
Example
Interest earned 40 in the 8000s, interest expense 20 and a 0.03 discrepancy in the 9000s: net other income 19.97.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- non-operating
- below the line
Related
- 9000 Interest Expense — Interest paid on loans, credit cards and lines of credit. An "other expense", below operating expenses.
- 9200 Reconciliation Discrepancies — Small, explained gaps you accept to finish a bank reconciliation instead of hunting for them. Kept in its own account so they stay visible.
- Income statement — Revenue, costs and expenses over a period, ending in net income. The report that says whether you made money.