Income Vs. Bank Service charge reversal

Anish Bole on

Hello,

Our bank charged us a $ 10 service fee that they credited
back to us. The problem is that bivio is classifying it as
Income which it really is not. This in turn is showing up in
the tax return as income. I have options to classify it as a
certain type of income but no option to show it as a
"non-income" item in bivio

What do I do ?

-The Weekenders Investment Club

Rip West on

I assume that when they charged you the $10 service fee, you recorded it as an expense. You should record the credit of $10 as a negative expense.

Rip West
Saint Paul, MN

----- Original Message -----

From: Anish Bole

To: club_cafe@bivio.com

Cc: anishbole@hotmail.com

Sent: Tuesday, March 02, 2010 2:43 PM

Subject: club_cafe: Income Vs. Bank Service charge reversal

Hello,

Our bank charged us a $ 10 service fee that they credited
back to us. The problem is that bivio is classifying it as
Income which it really is not. This in turn is showing up in
the tax return as income. I have options to classify it as a
certain type of income but no option to show it as a
"non-income" item in bivio

What do I do ?

-The Weekenders Investment Club

iras1 on

Enter it as a negative expense.

Ira Smilovitz

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In a message dated 03/02/10 15:43:40 Eastern Standard Time, anishbole@bivio.com writes:

Our bank charged us a $ 10 service fee that they credited
back to us. The problem is that bivio is classifying it as
Income which it really is not. This in turn is showing up in
the tax return as income. I have options to classify it as a
certain type of income but no option to show it as a
"non-income" item in bivio

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