How do I log information on money outside Monzo for my business for Making Tax Digital for Income Tax?

Alongside your Monzo Business account, you may also use cash payments, your personal Monzo account or other bank accounts for your business finances. These transactions still need to be included in the summary that is sent to HMRC, so you can add what we call a manual transaction to record these funds in our submission tool.

To add a manual transaction in the Monzo submission tool:

Tap on Manage money outside of Monzo in the Home screen or the Making Tax Digital section of the app.
This will open the manual transaction overview screen. From here the you can tap on Add a transaction
First, you will need to select whether the transaction is income, an expense or a fee (Use the 'Fee' option when a fee is deducted before the payment lands in your account(s), not including CIS deductions).
Next you must enter the following details:

a name
the amount
when the transaction happened

Next you select a tax category. From this screen you can also add a split if some of the transaction is not business related or if the transaction needs multiple tax categories.

Tap Confirm to then choose whether the tax category applies to:

This payment: only this transaction.
From now on: all transactions from this payee from the date you apply the tax category, not the date of the transaction.
All payments: all transactions from this payee for this tax year.

Please note that if you use the From now on or All payments rules, they will turn opposite transaction types from the same payee into refunds. This means applying either rule to an income transaction marks any expenses as refunds, while applying either rule to an expense transaction marks income as refunds.

This creates the manual transaction and takes you to the details screen for that transaction where you can upload a receipt or add notes. Tap the arrow in the top left to see the list of all manual transactions you have logged.

You can also tap on any manual transaction in this list to open the details and edit the information that you entered.

If you have more complex transactions to log (such as vehicle mileage, CIS or payments with funds deducted before they reached your account, please read through our guide here

How do I log information on money outside Monzo for my business for Making Tax Digital for Income Tax?

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