27/08/2026
Balances in accounts like Uncategorised Income, Uncategorised Expense or Uncategorised Asset usually mean there's a transaction that needs your attention.
Here's what to do:
- Run the Account Transactions report for the uncategorised account.
- Review each transaction to identify the correct customer, supplier or bank activity.
- Recode the transaction to the correct income, expense, asset, liability or equity account.
- Reconcile your bank account and review your financial reports to make sure everything is accurate.
These issues are more common than you think, and they can affect your Profit & Loss, Balance Sheet and the accuracy of your tax return.
That's why it's important to review and clean up your books regularly.
Have questions? Drop them in the comments below.
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