Within LimeBooks there are two category/nominal lists:
1. The master categories
2. The categories for each individual client
Any changes that you make to the master category list will feed through to all clients, whereas any changes made in the individual client category list are just for that client.
To make changes to the master categories click Agent Options, then click Manage Master Categories. Within the category list, you will find:
- New Category button
- The category name
- Accounts header
- PL or BS (profit and loss account or balance sheet item)
- Income toggle (toggle this to on/blue to mark the category as income, otherwise leave toggled off/grey)
- VAT Default
- Accounts Code
- Linked
- Delete icon
New Category button
To add a new category in the chart of accounts for all clients, click the New Category button, enter the details and save, this will then be included in all client category lists.
Category name
Here you can rename the category names to your preference
Accounts Header
This will determine where the category sits in the reports within LimeBooks
PL or BS
This will determine where the category sits in the reports within LimeBooks and whether or not the category is included within the profit/loss calculations
Income toggle
This will determine where the category sits in the income & expenditure report and on the VAT return
VAT Default
The selected VAT rate for the category will pre-populate in the VAT rate box when analysing bank transactions.
Accounts Code
The accounts code is the code that will be exported on your trial balance if choosing to export as CSV, this is then used alongside your accounts production software to enter the closing trial balance figures into the correct nominal/category on your accounts software without the need for manual input.
You will see that there are two options to pre-populate the accounts codes, either TaxCalc or IRIS.
Linked
This column shows that the category is linked to your client list, if this does not say Yes, it may be that LimeBooks is processing to feed through to your client list.
Delete icon
If you want to remove categories from the list, you can do so by clicking the delete icon on the far right.