Why do I have to categorise my account transfers?

Categorising transfers made from your company account makes it even quicker and easier to submit the data for your annual company accounts every year.

There are three different ways you can categorise transfers made from your company account:

  1. Straight after you make a payment from your account

    The easiest way to categorise your transfer is to do it immediately after it has been made. You can choose from the standard categories available, or choose 'other' to add a custom one.

  2. From your company account transaction history

    If you'd prefer to categorise your transfers in batches, you can do so by going through your company account transaction history. All you need to do is click 'Add category' and select from the standard categories available or chose 'other' and add one. We recommend doing this on a regular basis.

    If you need to change a category, you can easily do that by selecting the category assigned to the transaction. Once you do that, you'll be able to change it to a different one if needed.

  3. During your annual accounting data submission

    If you'd like to do all of your transactions in one go, you can also do this at the end of your accounting year. You can also amend any previously categorised transactions if needed.

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