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Manage pre-defined classifications for your actual and forecasted cashflow.
About categories and category mapping
Categories define how financial data is interpreted throughout the portal. By mapping invoices (and their corresponding cash flow transactions) and forecast financial data to a category, you specify the type of income or expenditures they represent. If everything is mapped correctly, you can compare your actual incomes and expenditures with the forecasted ones. Without a category mapping, the system can not reliably determine how a financial item should be treated in such analyses.
Recommendation
When getting started, we recommend comparing the categories you currently use with the ones in the portal.
Default categories
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The portal provides default categories that are flagged with the badge SYSTEM .
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You can not delete default categories.
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There are seven default main categories.
The main categories are:
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Income
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Capital expenditures (CAPEX)
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Depreciation and amortization
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Financing
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Other costs
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Taxes
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Operational expenditures (OPEX)
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The main categories are divided into default subcategories.
Example
The category Taxes contains the default subcategories Property taxes and Income taxes.
User-defined categories
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To accurately represent your company’s cashflow, you may require additional subcategories. You can easily add these in the portal.
Example
You could create the subcategories “Software licensing” and “On-site security” under the main category Operational expenditures (OPEX).
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You can edit or delete any category you have created. However, if a category is already in use, you can not delete it from the list.
Example
If you have created the subcategory “Software licensing” and have mapped financial items to it, it can not be deleted.
Create a new subcategory
Prerequisites
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You are the organization owner or an admin.
Steps
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In platform view, select
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Hover over the desired category, select
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Give the new subcategory a Name.
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Select Create.
The new subcategory now appears in the category list, and you can use it to map your financial items.
Further actions
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Add additional subcategories in the same manner if needed.
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Note
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You can not delete or edit main categories.
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You can not delete subcategories that are already in use, which means:
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You have already mapped transactions with it.
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They are used in a forecast.
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Monitor category-related information on the dashboard
Compare expected and actual cashflow based on categories and subcategories with the following widget: