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April 14, 2023
Question

Categories

  • April 14, 2023
  • 1 reply
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New to QB and just created account and connected my business bank account. 

 

Ran through most of the transactions yesterday but honestly, I was guessing at a lot of the categories I was assigning to things. 

 

Firstly, is there a comprehensive help guide, focused on UK accounts/businesses, that specifically looks at which category to use for which thing giving a general description/examples that I can use as my trusty guide going forward? As a for instance there's no Director's Wages but presumabley Directors Remuneration fits, then there's various income categories, and Purchases as well, which of these say 4 possible choices, do you pick for your revenue?

 

I'd like to start out from the get-go selecting the correct categories and I fear I've already got loads of them wrong (on the back of which I've already created some auto-categorise rules which are probably totally rubbish and need removing and re-doing!!).

 

Whilst I understand the ultimate guide is to ask your accountant, I can't see any reason why it wouldn't be possible for QB to have created a guide that gives - well - some guidance on the categories so we at least have a fighting chance of getting them right?! 🙂 

 

Anyone can guide me where to look or resources, I'd be so appreciative. 

1 reply

April 14, 2023

Hello DivisionLeader, 

 

Welcome to the Community page, 

 

If you have a look at these article I have found for you, i help they will all help you with your accounts, 

 

Learn about the chart of accounts in QuickBooks Online

Add an account to your chart of accounts in QuickBooks Online

Learn about account types and detail types in QuickBooks Online

Learn common accounting terms