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Setting Up Categories

If you have opted not to use your chart of accounts to import your forecast categories, you can do this manually within GearShift.

Go to your forecast tab and click on 'Profit & Loss'. On the top left, click on 'Add new category'.

Then, you need to enter the name of the category and select what section it falls under on your forecast, i.e. income or expenditure and then pick the header it should come under such as other income, or direct staff costs.

Then you can click either save to save to go on and enter values, save and exit to return to the profit & loss forecast, or save and add new to add another new category.

If you click save, you will be prompted to enter the values for this category. You have the choice to:

  • enter manually
  • enter as a recurring value
  • % of another category

You can also enter the payment terms.

Then click the green 'save' button in the top right of the tab.

To do this for the balance sheet, it is the exact same process.

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