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can you add categories for bills/expenses?
can you add categories for bills/expenses? i'm running an electrical co. so would like a category for materials.
I’m anxious
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Inappropriate?Hi Tom,
Right now you can't cusomise the category list for Bills and Expenses, although this is something we're looking to improve in the future.
We'll have a chat and see if we can add a specific Materials category for the next release.
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This answers the question
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Custom categories is an essential feature that should be hurried along. Being restricted to the categories FreeAgent allows is going to cause headaches come tax time. A real shame because FreeAgent is superior to most in nearly every other regard. -
I would love to see this feature added!
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Inappropriate?Hi Tom,
Why don't use Cost of Sales for now? -
Inappropriate?ok thanks olly. Cost of sales? doesn't that apply to a cost required to get a sale... like the cost of generating a written quote>? i suppose it doesn't matter - if the FAC guys add a materials cat. then i can change previous ones. Thanks stuart. -
Inappropriate?No Tom, cost of sales can (typically) mean lots of things! In your case use it for materials until FreeAgent comes up with that category.
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Inappropriate?What happened to Tom's suggestion?
I just wanted to agree that a general "materials" expense would be great, I buy photography related items, that are not for specific jobs and not a cost of sale, all the time and don't know which category to put them in.
I’m confused
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Inappropriate?Having a "materials" heading would open up FreeAgent to a great deal more businesses.
I’m being assertive!
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Inappropriate?Anna / Stuart,
Would you not think that having "Materials" under Admin Expenses as well as "Materials" in Cost of Sales (which is of course already there) could cause confusion?
Just interested to hear your opinions.
Kind regards,
Emily
I’m curious
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Inappropriate?Rather embarrassingly I had forgotten Materials is a separate heading in Cost of Sales. Sorry to confuse everyone. I use too many charts of accounts!
I’m embarrased
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Inappropriate?regardless of the specific category, the inability to add new categories that are appropriate to a specific business type is a drawback.
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Inappropriate?Thanks for the replies everyone,
Personally I don't think it's confusing to have a materials category in both expenses and cost of sale. I don't use cost of sale much, my kind of photography is a service really. I agree with Gareth that being able to create new categories to suit the business would be best, but for now I would be really happy with a materials in expenses!! I am still on trial, with 17 days left and would love to stay! But what do I do with the expenses that relate to my trade and don't fit under any of the categories?
I am sure I am not the only one.
I’m worried....
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Inappropriate?i agree with gareth...
" Gareth Howell
regardless of the specific category, the inability to add new categories that are appropriate to a specific business type is a drawback. "
I’m unconcerned
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Inappropriate?Re Anna's last post:
I am using freeagent for the first time as a trial. As a freelance sole trader, I guess my accounts are straightforward, but if I can not find a category for an expense, I have just put it under 'Sundries'.
Is this OK? -
Inappropriate?Hello Steve,
As an accountant, I tell my clients to be wary of putting too much into Sundries, because seeing a large amount there can sometimes trigger an inspection by HM Revenue.
What I would do, is try and find another home for your costs as much as you can, and use Sundries as a last resort.
That said, I know there are other accountants who make more liberal use of Sundries than I do. So if you have an accountant, I would talk to him/her as well.
Does that help, please?
Kind regards,
Emily1 Comment Add a comment
This answers the question
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Thanks for the advice Emily. I shall certainly follow it.
Steve -
Inappropriate?I have a graphic designer who designs our publication. Which category should I use for her bills?
I’m confused
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Inappropriate?Hi Christiane,
If your business is to produce the publication (e.g. you're a magazine editor) then I'd put her bills to Cost of Sales.
If your business is different and the publication is for e.g. advertising (so it's your brochure or sales catalogue) then I'd put her bills to Advertising and Promotion, or Stationery.
Does that help, please?
Kind regards,
Emily -
Inappropriate?Thank you, Emily. We produce the newspaper. I used "Subcontractor costs".
I’m confident
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Inappropriate?Hi Christiane,
That's absolutely fine - if you produce the newspaper, the cost needs to appear somewhere in direct costs, and "Subcontractor costs" will do just as well as "Cost of Sales".
Kind regards,
Emily -
Inappropriate?Any news about allowing users to create/delete/modify categories? -
Inappropriate?I'm looking forward to this too. I provide professional services, so I would turn off all the categories irrelevant to my business. And I am in the US, so I would rename and adjust the categories to match our tax requirements. Thanks...
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