Question please;

I recently opened a Monzo business account and have paid in a total of £865 during May, but this is showing as NET under spotlight view?
Should this not show as Gross?

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Do you have a Tax pot set up?

Do you mean the cashflow view showing Net income? This screen will also show money out. So presumably Net is correct (income minus outgoings).

Green is income, white is money paid out:

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I do 40% goes across to my tax pot, however the NET figure is my gross into the account. I believe my NET should be £519 ?

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Was solely guessing, sorry :sweat_smile:


I think I can see where my confusion is, as per your image which is spotlight when opened.
This image is of my spotlight prior to clicking on it, which made me believe it was NET pay as it says ‘NET this month’ beneath!

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And why is tax pot not included in money out?

It’s a future liability, but it’s not yet been paid out.

Your net income for the month is income (payments into the account plus credit interest) minus outgoings (bills paid, tax paid etc.).

It doesn’t include what you have set aside for future tax liabilities.

I set aside money throughout the year for the annual corporation tax bill (the tall white line on the graph). So my net income for this month is (mainly) the big green invoice payment minus the white corporation tax payment. (Plus a couple of very small incoming and outgoings aren’t really discernable due to the scale of the graph.)

Thanks for your reply, and well explained.
I would prefer the wording ‘NET this month’ not be viewable as that is confusing me as I am reading it as £865 NET this month.