To add a category and link it to a specific accounting account, like a fixed assets account, follow these steps:
1. Enable the Accountant Level features:
- Go to Your Profile > Preferences.
- Select 'Show Accountancy Information': ON
2. Create a new account from the Chart of Accounts page:
- Navigate to the Chart of Accounts page.
- Choose the relevant account type from the drop-down menu:
- Populate the information for the new accounting account:
- Search for account 15800 on your Chart of Accounts page.
- Press the three dots next to the 'Add account' button.
- Select 'Add account' and enter the name of your new account.
- The Account Number will be automatically generated.
3. To create a new category to link it to the new Fixed Assets account:
- Locate the transaction from your Bank transactions page.
- In the 'Category' field, type the name of the account you just created, e.g., 'Property'.
- Select the 'New Category for 15802 Property Purchase'.
- Ensure the new category is linked to the correct 'Parent-category'.
- Press 'Done' to save the new category.
4. Use the newly created category to categorise your transaction so it links to your fixed asset account:
- As expected, your transaction will be accurately reflected in your balance sheet.