Many firms receive outside income for Mediation, Speaking Events, etc. to record income other than fee income.
Follow these steps:
- Go to Accounting > Bank > Select Operating Account > Details
- Under the Transaction tab, click Add.
- Complete the deposit, and for the Account use 4150: Other Income, which is a designated income account.
- This account will group the income "above the line" on your Profit and Loss and be included in the calculation of income/loss from activities of the firm.