Bookkeeping categories sort transactions into, well, categories! This gives you a clearer picture of your income and expenses, and also helps prepare your books for tax time. We provide some default categories to get you started, but you're free to create your own.
There's no limit to how many categories you can create. However, you might want to look into your region's chart of accounts. Our accounting partners recommend using industry-standard categories to ensure a smooth bookkeeping experience.
How do categories and groups work together?
Think of groups as higher level categories. Within each group, you can add new categories. Holvi’s groups remain fixed – as this is what we use to build your reports – but you can add new categories to groups, as you like.
For example, if you’re paying for a software subscription, you can create a new category for Subscriptions. As this is a business expense, you’d save it to the Business expense group so it appears in the correct reports.