Recording Pension Income

How do you record Old Age Security (OAS) income being deposited directly into bank account?

Should I use record deposit but which account is it coming from? It is going into bank. Thanks.

section divider

I'm confused. This site is about bookkeeping for small businesses that are home-based. OAS is is personal income and has nothing to do with business income.

If you are using a program like Quicken to track your personal finances, book the entry as a deposit to your bank. Your offset account/category would be Pension Income ... an income account.

If you are running a business while retired, your OAS income has nothing to do with your business and is not recorded in your business records. I hope you have a separate bank account for your business income and are not co-mingling your personal finances and your business finances.

I hope this helps.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Learning QuickBooks.

Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.

Enjoy A Tea Break With
Me Today. Let's Chat!

Use the search feature to quickly find the
information you're looking for.

Your Learning Curve!


Warm up your tea cup and check out these chats ...

Click on image above to read the chat.

Join Me On Facebook

Help support this site by "liking" me! Here's where I post current information.

Listed Under Websites NOT Local Business.
This website is NOT associated with the business operating in Bonnyville AB.

A Handy Reference