Self-employed
| Category | Type | Example |
| Sales | income | Money received from your clients or customers who have purchased products or services from your business. |
| Other income | income | Income not included in sales. For example: interest payments from bank accounts. |
| Admin | expense | Stationery and other office costs |
| Advertising | expense | Advertising and marketing costs |
| Bad debt | expense | Money owed to your business that will not be paid back or recovered. |
| Entertaining | expense | Business entertainment costs |
| Equipment depreciation | expense | The reduction in value of equipment owned by your business. For example: a computer or mobile device. These expenses are not eligible for tax relief. |
| Financial charges | expense | Fees and charges from financial providers. For example: charges from banks or building societies. Countingup monthly plan and transaction fees are financial charges. |
| Interest paid | expense | Interest owed or paid on amounts due to suppliers or providers. For example: loans, mortgages or late payments. |
| Other costs | expense | You should only use this for other business expenses when you cannot find a more precise category to use. Can’t find the category you need? Tell us here |
| Premises costs | expense | Costs related to your business premises. For example: rent, rates or utilities. |
| Professional fees | expense | Costs for professional services. For example: accountant, solicitor or mortage broker fees, or filing fees to Companies House. |
| Purchases | expense | Goods you purchase and intend to sell to your customers. |
| Repairs | expense | Repairs, maintenance and renewals of property or equipment for your business. |
| Staff | expense | Wages or salary paid to staff or employees, excluding contractor costs. |
| Tax cost | expense | Cost of taxes |
| Travel | expense | Travel expenses for business. For example: fuel, train, taxi or flight costs. |
| Uncategorised | expense | Costs where the category has not been found. Uncategorised items make your reports and tax estimate in the app less accurate. Make sure you update the category to explain these items and stay on top of your bookkeeping. Can’t find the category you need? Tell us here |
| Equipment | asset | The cost of purchasing equipment to be used by your business. For example: a computer or mobile device. |
| Equipment accumulated depreciation | asset | The total reduction in the value of equipment owned by your business, from when your business first owned the equipment up to a given date. |
| Trade debtors | asset | The value of sales invoices you have issued but have not yet been paid. |
| Cash | asset | The amount of funds held in your Countingup business account (your balance). |
| Petty cash | asset | Money owned by your business you keep in physical form (cash in hand). |
| Prepayments | asset | Something you have paid for in advance where you have not yet received the product or service paid for. Once you receive the product or service you (or your accountant) should update the category as appropriate. |
| Accrued income | asset | Income which has been earned but not yet received |
| Personal use | asset | Goods and/or services consumed personally rather than for the business |
| Suspense | asset | Used to temporarily store transactions for which there is uncertainty about where they should be recorded |
| Trade creditors | liability | The value of bills or purchase invoices you have received but not yet paid. |
| Accruals | liability | The value of services or products your business has received but which you have not yet paid for. Once you make payment, you (or your accountant) should update the category as appropriate. |
| Income in advance | liability | Income the business has received but has not provided the goods or services for |
| VAT | liability | The amount of VAT your business owes or pays to HMRC, or VAT amounts reclaimed from HMRC. |
| Tax liability | liability | The amount your business pays to HMRC for tax and National Insurance. |
| Loan | liability | Money your business borrows. For example: a business loan from a bank. |
| My investment | equity | Money that you have invested in your business |
| Pay me | equity | Money you draw from the business and pay to yourself |
| Retained earnings | equity | The cumulative profit or loss made by your business since your business started. |
Self-employed CIS contractor
| Category | Type | Example |
| Sales | income | Money received from your clients or customers who have purchased products or services from your business. |
| Other income | income | Income not included in sales. For example: interest payments from bank accounts. |
| Admin | expense | No change |
| Advertising | expense | Stationery and other office costs |
| Bad debt | expense | Advertising and marketing costs |
| CIS subcontractors | expense | Payments made to subcontractors under the Construction Industry Scheme (CIS) |
| Entertaining | expense | Business entertainment costs |
| Equipment depreciation | expense | The reduction in value of equipment owned by your business. For example: a computer or mobile device. These expenses are not eligiblie for tax relief. |
| Financial charges | expense | Fees and charges from financial providers. For example: charges from banks or building societies. Countingup monthly plan and transaction fees are financial charges. |
| Interest paid | expense | Interest owed or paid on amounts due to suppliers or providers. For example: loans, mortgages or late payments. |
| Other costs | expense |
You should only use this for other business expenses when you cannot find a more precise category to use. Can’t find the category you need? Tell us here |
| Premises costs | expense | Costs related to your business premises. For example: rent, rates or utilities. |
| Professional fees | expense | Costs for professional services. For example: accountant, solicitor or mortage broker fees, or filing fees to Companies House. |
| Purchases | expense | Goods you purchase and intend to sell to your customers. |
| Repairs | expense | Repairs, maintenance and renewals of property or equipment for your business. |
| Staff | expense | Wages or salary paid to staff or employees, excluding contractor costs. |
| Tax cost | expense | Cost of taxes |
| Travel | expense | Travel expenses for business. For example: fuel, train, taxi or flight costs. |
| Uncategorised | expense | Costs where the category has not been found. Uncategorised items make your reports and tax estimate in the app less accurate. Make sure you update the category to explain these items and stay on top of your bookkeeping. Can’t find the category you need? Tell us here |
| Equipment | asset | The cost of purchasing equipment to be used by your business. For example: a computer or mobile device. |
| Equipment accumulated depreciation | asset | The total reduction in the value of equipment owned by your business, from when your business first owned the equipment up to a given date. |
| Trade debtors | asset | The value of sales invoices you have issued but have not yet been paid. |
| Cash | asset | The amount of funds held in your Countingup business account (your balance). |
| Petty cash | asset | Money owned by your business you keep in physical form (cash in hand). |
| Prepayments | asset | Something you have paid for in advance where you have not yet received the product or service paid for. Once you receive the product or service you (or your accountant) should update the category as appropriate. |
| Accrued income | asset | Income which has been earned but not yet received |
| Personal use | asset | Goods and/or services consumed personally rather than for the business |
| Suspense | asset | Used to temporarily store transactions for which there is uncertainty about where they should be recorded |
| Trade creditors | liability | The value of bills or purchase invoices you have received but not yet paid. |
| Accruals | liability | The value of servcies or products your business has received but which you have not yet paid for. Once you make payment, you (or your accountant) should update the category as appropriate. |
| Income in advance | liability | Income the business has received but has not provided the goods or services for |
| VAT | liability | The amount of VAT your business owes or pays to HMRC, or VAT amounts reclaimed from HMRC. |
| Tax liability | liability | The amount your business pays to HMRC for tax and National Insurance. |
| Loan | liability | Money your business borrows. For example: a business loan from a bank. |
| My investment | equity | Money that you have invested in your business |
| Pay me | equity | Money you draw from the business and pay to yourself |
| Retained earnings | equity | The cumulative profit or loss made by your business since your business started. |
In the Countingup app you can check the meaning of a category by tapping the ‘i’ icon next to it in the category picker.