Personal income outputs are only returned for personal bank accounts and paystubs. Similarly, revenue outputs are only returned for business bank accounts.

 How are Transactions categorized as either Personal Income or Revenue?

• Revenue: As mentioned above, a prerequisite for revenue categorisation is that the bank account is a business bank account. The transaction must also have the following characteristics:
  • It must be a credit transaction.
  • It must not be a self-transfer, an interest payment, or a refund.
• Personal Income: As mentioned above, a prerequisite for personal income categorisation is that the bank account is a personal bank account. Inscribe will soon have a number of personal income subcategories. At the moment, the only subcategory for personal income is SALARY. For a transaction to be categorized as SALARY, it must have the following characteristics:
  • It must be a credit transaction.
  • It must not be a self-transfer, an interest payment, or a refund.
  • It must not be a retirement (e.g. pension) or social security payment.
  • It must contain some text signifier indicating that it is a salary (e.g. Payroll Acme Inc.) or it must follow some common frequency (e.g. weekly, biweekly, fortnightly, monthly).

 Can a Bank Account be manually set to Business or Personal?

Yes. A common use case for this is sole proprietor bank accounts. All indicators may point to the fact that the account is personal, however, you may want to receive REVENUE Credit Insights outputs. To enforce that a customer is a business entity, set the company argument when creating the customer.

 How are the Annual statistics calculated?

In order to calculate annual statistics, period statistics are calculated for each income stream. This is simply the total of the income stream over the time period of the document or open banking data. The frequency of the payments are then considered. Based on this information, it is possible to estimate the annual total for that income stream.

For example, if a paystub is uploaded with dates that indicate a weekly frequency, the estimated annual income can be found by multiplying that amount by 52.