Understanding the different income categories in Zyclee and how to choose the right one for your income sources.
Categorizing your income helps you understand where your money comes from and makes it easier to:
Regular wages or salary from employment
Income generated from a business or self-employment
Earnings from freelance work or gig economy activities
Income from investments, such as dividends, interest, and capital gains
Income from renting out properties or other assets
One-time or recurring bonuses from employment or performance
Income from retirement pensions or annuities
Income from social security benefits
Income from royalties, such as book sales or intellectual property
Income from educational grants, scholarships, or stipends
Money received as gifts or inheritance
Income from alimony or child support payments
Other income not categorized elsewhere
Always use the same category for the same income source to maintain accurate tracking over time.
Choose categories based on where the income comes from, not just the amount or frequency.
Try to use specific categories when possible. Only use "Miscellaneous" for truly unique or one-off income.
Some categories (like gifts vs. freelance income) have different tax implications. Choose accordingly.
If you have multiple part-time jobs, create separate income entries for each and categorize them all as "Salary" (or the appropriate employment category).
Side projects that generate income should typically be categorized as "Freelance" or "Business Income" depending on the nature of the work.
Regular dividend payments should be "Investments," while one-time stock sales might be better as "Investments" if regular, or "Miscellaneous" if very infrequent.
Let us know if you need more information or have suggestions for improving this guide.