Other Income
Not all of your business's money comes from selling things. Maybe you run a closet clean-out session, get paid for a sponsored post, or earn an affiliate payout. That's other income. Record it in RelistKit so your profit and loss, and your tax figures, are complete. Other income is part of the Starter, Growth and Pro plans.
Some things aren't other income. Record a sale on the item itself. Equipment you sell goes on your equipment list (see Your Equipment List). Not sure whether something counts? Ask your accountant.
See your other income
- Click Trackers in the top menu.
- Click the Other income tab.
- Choose a period from the dropdown at the top.
The total for the period sits above the list.
Add other income
- Click Add income.
- Under What it was for, describe it, like
Closet styling session. - Enter the Date and the Amount. If you're registered for GST/HST, the amount includes any HST you charged.
- If you're registered and charged tax, enter it under HST you charged (or GST you charged), or click the percentage beside the field to work it out from the amount. Leave it empty if you didn't charge any, like on an affiliate payout from a company outside Canada.
- If you like, add a note, like who paid you.
- Click Add. To add another right away, click Add and add another.
The tax you charged isn't income. It's the CRA's money, so RelistKit leaves it out of your income and puts it with your GST/HST figures.
To change or delete an entry, click the pencil or the bin on its row.
Where it shows up
- Reports → Profit and loss: an Other income line, added to your net profit.
- Reports → Money in and out (Growth and Pro): on the day you got it.
- Reports → Year-end (Pro): line 8230 of your T2125.
- Reports → GST/HST (Pro, if you're registered): in your total sales, with the tax you charged.
Click CSV or Excel on the Other income tab to download the entries for the period you've chosen.
Common questions
The Other income tab has a lock on it.
Other income comes with Starter, Growth and Pro. If you change plans, entries you've already made stay saved, and come back when you're on a plan that includes it.
I'm registered for GST/HST. What's "HST you charged"?
The HST inside the amount you were paid, if you charged it. It goes on your GST/HST return, not into your income.
On the quick method, why is line 8230 more than my entries?
On the quick method, the CRA's 1% credit on your first $30,000 of eligible sales also counts as other income, so RelistKit adds it.