Accounting Operations

Use accounting operations when transaction review depends on records outside the bank feed. Keep these records aligned with journals, reconciliation, and reports so balances are not recorded twice.

Start with shared master data

Maintain the Chart of Accounts before large imports or automation runs. Banking can display asset and liability accounts; Reconciliation supports eligible balance-sheet accounts, including bank, card, clearing, and loan accounts.

Use Payees and Tags for vendors, customers, employees, classes, locations, and projects. Reuse an existing record where possible. Deactivation preserves historical links; deletion may be blocked when accounting activity refers to the record.

Accounts receivable and payable

Use A/R & A/P for client invoices, vendor bills, balances, and supported QuickBooks imports. Confirm posting accounts, dates, terms, customer/vendor, and status before using a subledger record in reports.

When a bank row represents payment of an existing receivable or payable, match or connect it to the existing accounting activity instead of posting duplicate revenue or expense. Follow Transaction Review.

Fixed assets

Fixed Assets is hidden from the client sidebar by default; use Customize Sidebar to show it. Create assets manually or set them up from journal activity with the acquisition date, cost, account mapping, depreciation or amortization method, and useful-life context. Review the schedule and resulting entries against the general ledger and balance sheet.

See Fixed Assets for setup and posting behavior.

Recurring journals

Use Recurring Journals for stable, balanced general-ledger activity. Review first produces a draft for each due run; Auto-post creates the journal automatically. Pause stops future runs but leaves prior journals, and deleting a template does not delete entries already posted.

Review due or paused schedules before close and check for possible duplicate journals. Closed periods can block a run.

Connect operations to the monthly close

1. Confirm master records and opening subledger balances.
2. Enter current invoices and bills, and record fixed-asset activity.
3. Link bank settlements to existing records instead of duplicating them.
4. Review recurring and adjusting journals.
5. Compare subledger balances and schedules with the general ledger.
6. Reconcile accounts and run financial reports.
7. Resolve or document exceptions before Book Close.

Correct and hand off

Correct the source record and its ledger relationship together. Deactivating a payee or hiding an account does not remove history. Editing or deleting a reconciled journal can make a saved report disagree with the ledger, and deleting a journal is permanent.

At handoff, list outstanding receivables/payables, asset additions or disposals, due recurring entries, mapping exceptions, failed imports, and any report or reconciliation affected by a correction.