What is the difference between Business and Property bank accounts?¶

Every bank account in myaccountant has an account type, which decides what happens when you categorise its transactions:

• Business — linked to a company. Categorising creates income, expense and payment records in your Business section, with GST handled, and feeds into your BAS and reports. Business accounts also get an Invoice Payments tab that matches incoming customer payments to your invoices — see How do I match bank payments to invoices?
• Property — linked to a rental property. Categorising creates rental income, expense and payment records that flow into your Property reports.
• Personal — for personal money. Categorising simply tags the transaction with a personal category in your Personal section; it doesn't create a business or rental record.

You can also create a Super account to keep track of a super fund balance.

You set the account type when you add an account, and can switch it later between Business, Property and Personal using the Edit button on the account (a Super account's type is set when you add it). Business accounts need a company selected; property accounts can be linked to a specific property.

Related guides¶

• How do I add a manual bank account?
• How do I connect my bank?
• How do I categorise bank transactions?