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How do I set up Caia's business profile?

When Caia is on for a business, the Caia page opens with Getting to know your business. Caia shows what it has already read from Myaccountant, the ATO and the Australian Business Register, then asks a few questions. Each question is optional. Select Skip for now to leave the rest for later, and you can change any answer afterwards.

The questions

Caia only asks the questions that apply to your business. Step through them with the buttons on each card:

  • Here's what I already know. Caia lists the facts it has read. Select Let's go to continue.
  • What does the business do? Write a sentence or two about what you sell, who you sell to and what you pay for. Select Save and continue. Caia uses this to suggest GST special cases. It is asked only when the business has no description yet.
  • GST special cases. Asked only when the business is registered for GST. See the next section.
  • How do card sales reach your bank? Asked only when Caia finds card payments in your bank lines that are not connected to Myaccountant. Choose Record what lands in the bank if only the money that reaches the bank is recorded, or Record full sales and fees if you connect the card platform, or forward its statements, so each sale and fee is seen. Select Save and continue.
  • Where should I start? Asked for a new business with no books history. See Starting balances.
  • That's everything. I'll take it from here. Select Finish.

GST special cases

Some sales and purchases are treated differently for GST. Caia suggests a few for your kind of business, once it knows what the business does. Nothing is used until you approve it.

For each suggestion:

  • Select Yes, that's right to approve it.
  • Select Change to edit it first.
  • Select Not for us to remove it. An approved case shows Remove instead.

To add your own, select Add your own. Choose This is about (Sales or Purchases) and What happens. The options are GST-free, Input-taxed (sales only), Check each time (purchases only) and Estimate. You can also choose an Account (optional); Any account leaves it open.

Caia tells you what each choice does before you approve it. For example, Check each time means Caia asks you about each of those purchases instead of guessing the GST.

An Estimate needs a method name and a percentage. Only the business owner, or an accountant working in the client's books, can approve one. Read Caia's estimate notice, then tick I understand this is an estimate and the ATO conditions above. before you save.

Starting balances

For a new business, Caia asks what was owed on the books start date. Every amount is optional:

  • Money customers owe you (choose the account)
  • Money you owe suppliers
  • Money owed to the ATO
  • Loan, which you can repeat for each loan, each with its own account

Your bank balances are not included, because Caia reads them from your bank feeds. Caia shows a balancing amount: money customers owe you, less what you owe suppliers, the ATO and lenders. That amount is balanced against Owner's equity. The business needs an Owner's equity account before starting balances can be saved.

Starting balances cannot be changed once the books are locked. To clear them, select Clear the starting balances? and confirm.

Change your answers later

On the Caia page, What Caia knows lists your answers. Select Change answers to go through them again.

The Business profile card also holds:

  • What the business does, which you can edit and save
  • Caia keeps the books from, the start date (see How do I switch Caia on?)
  • Australian Business Register, with Check the ABR. This checks the business's ABN, so the ABN must be added in Settings first. The card shows when it was last checked, and Never registered for GST if the register shows no GST registration.
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