categories on home and business

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  • Updated 5 months ago
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Home & Business 2017.   I have a client who provides files on this product for quarterly BAS.  I only seem to be able to run a P&L by category nymber.  Can I add  category names?  Does this product use account numbers like a
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Trevor Lindsay

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Posted 6 months ago

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Robyn Kelly, Accredited Partner

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The client (or their accountant) must have set up the categories as numbers Trevor.  I had a client similar and I edited each category to still be a number but also have the name after the number. 

Go to Tools > Category List and click on each one to EDIT.  In my case I left the numbers there as the accountant wanted them still but I found it easier with name in there too.

Regards, Robyn Kelly

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Trevor Lindsay

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I have managed to produce P&L reports in Home & business with both categories & descriptions but I am having throuble reading these reports. The P & L report shows income/expenses by category but I cannot work out how to roll foward retained earning (as per the Balance Sheet) based on the full year profit & loss.  Opening RE +/- profit/loss = closing RE   Is there a trial balance report on Home & businss?    Any ideas.  I know I am a newby on this product but I need to raise journals to the practices reporting systems to prepare accounts/yearly BAS & tax return
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Robyn Kelly, Accredited Partner

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Hi Trevor

Firstly, there is no Trial Balance report in Home & Business.

Next what I usually do is a balance sheet report with the Date Range as LAST YEAR and then Interval = YEAR.  The difference in the EQUITY figures at the bottom of the report from one year to the next should be the same as your P&L for that financial year.

Also, there is no way to enter journals in Home & Busniess but I personally create an account called "Accountant Journals" and enter everything through there.

Hope that helps?

Robyn Kelly