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    PaulaF's Avatar
    PaulaF Posts: 1, Reputation: 1
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    #1

    May 2, 2017, 07:57 AM
    What category should I use for an insurance claim payout.
    Our insurance company paid a claim so we could repair a broken piece of equipment. It is not income, and not an expense, How should it be categorized?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    May 2, 2017, 07:14 PM
    You accounted for the cost of the repair so the claim represents an offset to that cost
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