diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2478d62ac..65ca7558d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,6 +10,7 @@ Changelog for NeoFS Node
 - Do not ask for contract wallet password twice (#1346)
 - Do not update NNS group if the key is the same (#1375)
 - Make LOCODE messages more descriptive (#1394)
+- Basic income transfer's incorrect log message (#1374)
 
 ## [0.28.1] - 2022-05-05
 
diff --git a/pkg/innerring/innerring.go b/pkg/innerring/innerring.go
index 34a36ca3e..19dd98e27 100644
--- a/pkg/innerring/innerring.go
+++ b/pkg/innerring/innerring.go
@@ -600,7 +600,7 @@ func New(ctx context.Context, log *zap.Logger, cfg *viper.Viper, errChan chan<-
 	}
 
 	// create settlement processor dependencies
-	settlementDeps := &settlementDeps{
+	settlementDeps := settlementDeps{
 		globalConfig:  globalConfig,
 		log:           server.log,
 		cnrSrc:        cntClient.AsContainerSource(cnrClient),
@@ -610,10 +610,12 @@ func New(ctx context.Context, log *zap.Logger, cfg *viper.Viper, errChan chan<-
 		balanceClient: server.balanceClient,
 	}
 
+	settlementDeps.settlementCtx = auditSettlementContext
 	auditCalcDeps := &auditSettlementDeps{
 		settlementDeps: settlementDeps,
 	}
 
+	settlementDeps.settlementCtx = basicIncomeSettlementContext
 	basicSettlementDeps := &basicIncomeSettlementDeps{
 		settlementDeps: settlementDeps,
 		cnrClient:      cnrClient,
diff --git a/pkg/innerring/settlement.go b/pkg/innerring/settlement.go
index 597d7de93..713ae3a07 100644
--- a/pkg/innerring/settlement.go
+++ b/pkg/innerring/settlement.go
@@ -35,6 +35,11 @@ type globalConfig interface {
 	AuditFee() (uint64, error)
 }
 
+const (
+	auditSettlementContext       = "audit"
+	basicIncomeSettlementContext = "basic income"
+)
+
 type settlementDeps struct {
 	globalConfig
 
@@ -49,14 +54,16 @@ type settlementDeps struct {
 	clientCache *ClientCache
 
 	balanceClient *balanceClient.Client
+
+	settlementCtx string
 }
 
 type auditSettlementDeps struct {
-	*settlementDeps
+	settlementDeps
 }
 
 type basicIncomeSettlementDeps struct {
-	*settlementDeps
+	settlementDeps
 	cnrClient *containerClient.Client
 }
 
@@ -204,6 +211,10 @@ func (s settlementDeps) ResolveKey(ni common.NodeInfo) (*owner.ID, error) {
 }
 
 func (s settlementDeps) Transfer(sender, recipient *owner.ID, amount *big.Int, details []byte) {
+	if s.settlementCtx == "" {
+		panic("unknown settlement deps context")
+	}
+
 	log := s.log.With(
 		zap.Stringer("sender", sender),
 		zap.Stringer("recipient", recipient),
@@ -226,14 +237,14 @@ func (s settlementDeps) Transfer(sender, recipient *owner.ID, amount *big.Int, d
 
 	err := s.balanceClient.TransferX(params)
 	if err != nil {
-		log.Error("could not send transfer transaction for audit",
+		log.Error(fmt.Sprintf("%s: could not send transfer", s.settlementCtx),
 			zap.String("error", err.Error()),
 		)
 
 		return
 	}
 
-	log.Debug("transfer transaction for audit was successfully sent")
+	log.Debug(fmt.Sprintf("%s: transfer was successfully sent", s.settlementCtx))
 }
 
 func (b basicIncomeSettlementDeps) BasicRate() (uint64, error) {