Let's say you manage more than one Facebook page or more than one Twitter account, or multiple Pinterest boards. You most likely have multiple lists, schedules, maybe even post templates and post categories for each of those sites.
Create a New Profile
First, go to Settings -> Profiles, and create a new profile.
For example, if you would like to separate the items (lists, schedules, etc.) of your Facebook "Dogs" page from your Facebook "Cats" page, you could create one "Dogs" profile, and one "Cats" profile.
Once you create a profile, you can switch to it from the dropdown in the top-right corner. Click on the dropdown and select the profile you'd like to switch to.
To switch back to your master profile (your default profile), or to switch to a different profile, simply click on the dropdown again and select a different profile to switch to.
For example, any list you create in the "Dogs" profile will only be available in the Dogs profile.
Similarly, any schedules, post templates or post categories you create in the "Dogs" profile will not show up anywhere else.
Lists in "Dogs" Profile
Lists in "Cats" Profile
If you have any lists which you would like to use in all profiles, you can simply move the list to the Master Profile, or you can switch to the Master Profile, and create a new list there.
Any list that is in the Master Profile will be a Global list, which means it will be available across all profiles.
Similarly, you can make schedules, post templates and post categories global as well.
To do this, simply check the box Make available to all profiles when you're creating the item:
... or edit an existing item and check the box there:
Besides having separate lists, schedules, templates and categories, profile can also have separate account connections.
For example, you might have more than one Facebook account, or more than one Twitter account that you're managing.
You can then create separate profiles for these accounts, and you can connect a different account to each profile from Settings -> Connections.
Google+ Connection on "Dogs" Profile
Google+ Connection on "Cats" Profile