Categorising transactions
What is this?
Once your bank feed is connected and the transactions are fed into the software, you can allocate them to the correct categories which will update the correct boxes on your tax submission form.
Why do I need to split transactions?
This will allow you to keep on top of your income and tax-deductible payments such as business expenses, charitable donations and pension contributions.
How do I categorise a transaction?
To view unassigned transactions: Go to Record Keeping and select View All to see the unassigned transactions.
Select Transactions to Assign: Select the circle next to the transaction(s) you want to assign. You can assign them individually or group them together by selecting multiple transactions. You can filter the unassigned transactions by name, date, bank account, income or expense.
Choose Business Source & Category: From the dropdown menus in the bottom right corner, select the appropriate Business Source and Category for the transaction(s). Select Apply to confirm and assign the transactions.
By selecting the 3 dots on the transaction and selecting Edit you can also add notes and upload an invoice/ receipt to a transaction by uploading via browse files or dragging and dropping your file into the upload box.
Private Transactions
Need help?
If you are still unsure or need further help you can contact your accounting firm or our Digital Tax Software support team by submitting a ticket at the bottom of the page.
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