How to edit account categories

Summary

How to edit account nominal accounts or codes in Sage Accounting.

Description

Categories group transactions to track business performance. Each category has a Group and Type, which determine how transactions appear in financial reports like Profit & Loss and the Balance Sheet.

Resolution

Edit a category

Go to Settings, Business settings, Chart of Accounts.
Select an account.
Change the category. Scroll down and select Save. The fields marked with an asterisk * are mandatory.

Delete a category

Keep all categories, but you can exclude them from selection lists. An asterisk marks control accounts, which you can’t edit or remove.

Go to Settings, Business settings, Chart of Accounts.
Open the relevant category.
Clear the Included in the Chart checkbox.
Click Save.

Category Fields

This groups the ledger accounts and ensures the correct profit and loss and balance sheet reports.

Profit and loss

Group	Type	Description
Income	Revenue	Income from the things you sell
Income	Other income	Other sources of income
Expenditure	Direct expenses	Costs directly related to things you sell such as packaging, labour charges, import duty etc.
Expenditure	Expenses	Other costs such as staff wages, utility bills, business expenses etc.

Balance Sheet

Group	Category	Description
Asset	Bank	Balance of your bank accounts and credit cards
	Fixed Assets	Value of your assets such as your property, any equipment you own, any company cars or other vehicles.
	Current Assets	The value of your stock and the amount owed to you by your customers.
Liability	Liabilities	Amount you owe to creditors such as the total amount owed to your vendors, the amount owed to the tax authority.
Capital	Equity	Any capital bought into the business such as your profit (or loss)

Account Numbers

This is a number you can use to help you find and sort your categories.

If you've moved from another accounting system, such as Sage 50, match with the codes you’ve used previously.

You can use any number that suits you. By default, we use the following numbers.

Assets = 0001 – 1999
Liabilities = 2000 – 2999
Capital = 3000 – 3999
Income = 4000 – 4999
Expenditure – Direct expenses = 5000 – 5999
Expenditure – Expenses = 6000 – 9999

Visibility

Set categories for specific transaction types, like sales for sales transactions. If a category is missing, check its visibility setting.

When to change the visibility of a category:

EXAMPLE:

You buy office stationery and record it under Office Stationery. After returning items, you must record the refund. Since Office Stationery appears only in Other Payments, you can't select it for an Other Receipt. To fix this, update its Visibility to include Other Receipt.

If an unwanted account appears:

Go to Settings, Business settings, Chart of Accounts.
Click the category you want to check.
Select (or clear) the relevant areas in the Visibility section.
Click Save.