My report is showing my premium bonds prize money as "other income" after I followed the AI advice on how to categorise it. But this money isn't taxable, is this correct?

The Premium Bonds prize money showing as Other Income in your monthly report does not automatically mean it will be counted as taxable income. The reporting treatment depends on how the category was set up, including the selected detail type.

Detail types do not affect your accounting reports, such as Profit and Loss or Balance Sheet, but they can affect how information is reported for ITSA submissions.

For accurate reporting, I recommend reaching out to your accountant for guidance on the correct category to use.

You can also refer to this article for more information on account setup: Choosing the right account types in QuickBooks.

Feel free to chime back if you need more help.