Income Accounts

Income accounts track your income throughout a financial year. When a new financial year starts, the balances of your income accounts are set to zero. When you make a sale, it is recorded in one of your income accounts. In the income statement, you see the sum of all your income for the period you have selected.

There are different groups of income:

1. Sales Revenues
2. Other Operating Income
3. Financial Income
4. Extraordinary Income

Sales Revenues

This is the normal income you get from sales of goods or services.

Other Operating Income

This is income obtained from your business operations, but which cannot be categorised as Sales Revenues.

Financial Income

This is interest and earnings received from financial investments.

Extraordinary Income

This is income you don't normally receive from your business operations. Extraordinary Income is not included when calculating your operating profit.