Income is the money you receive for your direct or previous effort.

This includes all funds coming to you;

  • Salary;

  • Interest;

  • Dividends;

  • Royalties; and

  • Money repaid to you.

This is also known as money that swells your wallet or purse.


Sometimes there may be no income, but there are always expenses. Having more income than expenses increases a balance sheet.


Further Reading

Income (wikipedia)