IFRS for SMEs / For bookkeepers / Bank transaction categorisation table for IFRS for SMEs

Bank transaction categorisation table for IFRS for SMEs

Each row is one kind of bank statement line. The example is a typical description as it appears on a South African statement. "Where it goes" is the part of the financial statements the line belongs to; "Never" is where it must not end up.

The same table drives the suggestions Sight makes when you categorise a bank statement, so the reasons you see in the app match this page.

Bank statement line	Where it goes	Never	Ref
Transfer between the company's own accounts `TRANSFER TO SAVINGS` (out)	Nowhere in profit or loss: it moves cash between two bank accounts	Income or expenses	7.2
VAT paid to SARS `SARS VAT201 PAYMENT` (out)	Settles VAT payable	Income or expenses	11.13; 29
VAT refund from SARS `SARS VAT REFUND` (in)	Settles VAT receivable	Income or expenses	11.13; 29
PAYE, UIF and SDL paid to SARS `SARS PAYE EMP201` (out)	Settles the payroll liability; the cost was recognised with the salaries	Income or expenses	28.4; 29
Income tax paid to SARS `SARS PROVISIONAL TAX` (out)	Settles current tax payable; the tax charge comes from the tax computation	Income or expenses	29.39
SARS payment without a tax type `SARS EFILING PAYMENT` (out)	A tax liability or asset: find out whether it is VAT, PAYE or income tax	Income or expenses	29
Money from a director or shareholder `DIRECTORS LOAN J SAMPLE` (in)	Loan from a related party (a liability)	Revenue or expenses	33.9; 11
Money to a director or shareholder `DRAWINGS` (out)	Loan to a related party (an asset), unless it is salary or a declared dividend	Revenue or expenses	33.9; 11
Loan received `LOAN ADVANCE` (in)	Borrowings (a liability); a financing cash flow	Revenue or expenses	7.17; 11.13
Loan or vehicle-finance instalment `VEHICLE FINANCE INSTALMENT` (out)	Reduces borrowings; only the interest part is a finance cost	Income	7.17; 11.13
Interest charged `OVERDRAFT INTEREST` (out)	Finance costs	Income	5.5(b)
Bank charges `MONTHLY ACCOUNT FEE` (out)	Operating expenses: bank charges	Income	5.11
Interest received `CREDIT INTEREST` (in)	Finance or investment income	Expenses	11.14A; 5.5
Salaries and wages `SALARIES MARCH` (out)	Employee costs	Income	28.4
Dividend paid `DIVIDEND PAYMENT` (out)	A distribution from retained earnings	Income or expenses	6.3(c)(iii); 7.14
Dividend received `DIVIDEND RECEIVED` (in)	Investment income	Expenses	5.5; 11.14
Asset bought above the capitalisation threshold `LAPTOP PURCHASE` (out)	Property, plant and equipment, depreciated over its useful life	Income or expenses	17.4; 17.10
Rent or lease payment `RENT OFFICE MARCH` (out)	Operating lease expense	Income	20.15
Insurance premium `INSURANCE PREMIUM` (out)	Operating expenses; prepay the part that covers the next year	Income	5.11
Government grant `GOVERNMENT GRANT` (in)	Other income once the conditions are met; a liability until then	Expenses	24.4; 24.6
Refund or reversal `REFUND OVERPAYMENT` (in)	Reverses the original expense, or other income	Revenue from customers	5.11
Receipt from a customer with an open invoice `PAYMENT FROM MEGA TRADERS` (in)	Settles the trade receivable; the revenue was recognised on the invoice	Revenue a second time	11.13; 23
Payment to a supplier with an open bill `BUILD SUPPLIES PAYMENT` (out)	Settles the trade payable; the expense was recognised on the bill	An expense a second time	11.13
Receipt from a customer with no invoice raised `PAYMENT RECEIVED INV 1043` (in)	Revenue	Expenses	23
Everyday running cost `FUEL` (out)	Operating expenses by nature, for example fuel, tolls or repairs	Income	5.11

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