Choosing the correct transaction category | Finaloop Help Center
Choosing the correct transaction category
Have trouble choosing the right category for a transaction? We've got you covered. This guide will walk you through how it all works!
Written by Emily Burrows November 11, 2025
Table of contents
AboutHow this guide worksTransaction Categories1. Sales / income transactions2. Inventory / Cost of Goods Sold (COGS) Transactions3. General & administrative expenses4. Salaries & Wages5. Sales & Marketing (S&M)6. Research & Development (R&D) Expenses7. Interest & Financing Expenses8. Other Income & Expenses9. Taxes10. Assets / Liabilities11. Account transfers12. Equity Transactions
About
Finaloop automatically categorizes about 96% of your transactions—so you don’t have to worry about the accounting rules behind the scenes (we’ve got that covered). But for the remaining few, we may need your input to make sure everything lands in the right place. After all, you know your business best.
This guide breaks down the different categories available in Finaloop so you can confidently assign any open transactions and keep your books accurate and up to date.
To understand more about the structure of your financials or our overall Chart of Accounts, check out this guide to learn more.
How this guide works
We’ve broken this guide into sections based on the type of transaction—like Sales/Income, COGS/Inventory, Store Expenses, Car & Truck Expenses, and more. Each section includes a table that shows how each category would appear in your financials.
Here’s what you’ll find in each chart:
Keywords/ Description – Examples of words or phrases that you may use to describe the transaction that shows up in your bank or credit card feed (e.g., Office goods, Office accessories, Office stationary, Business cards, Papers).
Account Name – The specific account the transaction will be categorized to (e.g., Office supplies). Note this may or may not be the same as one of the keywords.
Parent Account – The parent account this account flows into on your financial reports (e.g., Office supplies & equipment).
Report category – The group this account flows into on your financial reports (e.g., General & Administrative (G&A)).
Report Group – A higher-level grouping on your financials (e.g., Operating Expenses).
Report Section – The section the Report Group shows up as in your financials (e.g., Net Operating Profit (Loss)).
Report – The type of financial report it appears on (e.g., P&L).
In addition, each row is in green, red, or white.
Green means it's money-in: the transaction is money coming into your business.
Red means it's money-out: the transaction is money coming out of your business.
White means this category can apply to both money-in and money-out transactions.
You can use this guide to match uncategorized transactions with the right keywords and understand how they’ll impact your financials—without needing to know the accounting rules behind them.
You can also get a good idea by typing a category into your transaction screen and see it how it will be mapped out:
Transaction Categories
1. Sales / income transactions
Sales, refunds, discounts, and other income transactions
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Affiliate marketing income | Affiliate marketing income | Sales - other | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Consulting income | Consulting income | Service & Consulting Income | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Earned commission, Sales commision |
Earned commission | Service & Consulting Income | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Refund retail, Return retail, Refund to customer | Refunds & returns - retail | Refunds & returns | Refunds & returns | Net Sales | Gross Profit (Loss) | P&L |
| Refund wholesale, Return wholesale | Refunds & returns - wholesale | Refunds & returns - wholesale | Refunds & returns | Net Sales | Gross Profit (Loss) | P&L |
| Sales dropshipping | Sales - dropshipping | Sales - dropshipping | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Sales retail, Store sales, Deposit from a customer |
Sales - retail | This triggers a Smart Flow with a few questions. Your answers help us handle it correctly – matching to an existing sale, or adding as new income. | ||||
| Subscription sales, Subscription revenue, Subscription income | Sales - subscriptions | Sales - subscriptions | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Service income | Service income | Service & Consulting Income | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Tips received, Tips from customers | Tip income | Tip income | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Wholesale, Wholesale revenue, Wholesale sales | Wholesale | Sales - wholesale | Sales | Net Sales | Gross Profit (Loss) | P&L |
| Cash payment for store orders, Cash deposit for store orders, Cash deposit for Shopify orders | Cash payment received for Shopify orders | Reduces AR balance for Shopify cash orders. You can also link the payment to a Shopify draft or manual order to prevent double counting of sales. Learn more. | Accounts receivable (A/R) | Current Assets | Assets | Balance sheet |
| Invoice paid by a customer, Invoice payment, Wholesale invoice, Deposit from a customer | Invoice paid by a customer | Link transaction to a specific invoice to prevent double counting of sales. Learn more. | ||||
| Advance from customer, Customer advance payment, Unearned revenue, Deferred revenue | Advance down payment | After you select this, our team will review & categorize correctly. | ||||
| Payout from store, Payout from payment processor, Transfer in from store, Sales payout | Payout from store | This triggers a Smart Flow with a few questions. Your answers help us handle it correctly. | ||||
| Canadian duty drawback, drawback | Canadian duty drawback | After you select this, our team will review & categorize correctly. | Accounts receivable (A/R) | Current Assets | Assets | Balance sheet |
2. Inventory / Cost of Goods Sold (COGS) Transactions
The way transactions are categorized and handled for inventory and COGS depends on which COGS tracking method you're using in Finaloop. To learn more, check out this article.
Purchase-based COGS
| Keyword/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Other cost of sales | Other cost of sales | Other cost of sales | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Other incidental supplies | Other incidental supplies | Other incidental supplies | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Royalties | Royalties | Royalties | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Consignment | Consignment | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Contract manufacturer | Production labor costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Dead inventory | Dead inventory | Dead inventory | Other cost of sales | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Dropshipping, Dropship goods, Inventory dropshipping | Dropshipping | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Dropshipping - Fulfillment, Inventory, Cost of goods sold, COGS | Dropshipping - fulfillment | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Dropshipping - Printing, Inventory, Cost of goods sold, COGS | Dropshipping - printing | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Dropshipping - Production, Inventory, Cost of goods sold, COGS | Dropshipping - production | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Finished products, Finished goods, Product purchase, Inventory, Cost of goods sold, COGS | Finished products | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Graphic design products | Production costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Inventory assembly costs | Production costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Inventory custom fees and services, Tariff | Inventory custom fees and services | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Inventory duties and tax | Inventory duties and tax | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Inventory insurance | Inventory insurance | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Inventory maintenance | Production costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Supplier fees, Inventory vendor fees | Inventory vendor fees | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Manufacturing costs | Production costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Manufacturing labor | Production labor costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Other inventory indirect costs | Other inventory indirect costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Packaging materials, Wrapping materials, Bags, Cartons, Boxes, Envelopes | Packaging materials | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Pallet costs | Pallet costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Printing | Printing | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Product giveaways | Product giveaways | Fixed marketing | Sales & marketing (S&M) | Operating expenses | Assets | P&L |
| Production costs | Production costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Production labor | Production labor costs | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping & freight in, Shipping to warehouse, Freight to warehouse | Shipping & freight-in | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping between warehouses, Freight between warehouses | Shipping & freight-in | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping supplies | Shipping supplies | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping surcharge | Shipping surcharge | Indirect costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Supplies & materials, Raw materials | Supplies & materials | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Wholesale supplier | Wholesale supplier | Direct costs | Product COGS | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Warranty reimbursement from inventory vendors | Warranty reimbursement | Warranty reimbursement | Other current assets | Current Assets | Assets | Balance sheet |
Sales-based COGS
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Other cost of sales | Other cost of sales | Other cost of sales | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Other incidental supplies | Other incidental supplies | Other incidental supplies | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Royalties | Royalties | Royalties | Other Costs of Goods Sold | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Consignment | Consignment | Consignment | Other current assets | Current Assets | Assets | Balance sheet |
| Contract manufacturer | Contract manufacturer | Production labor costs | Other current assets | Current Assets | Assets | Balance sheet |
| Dead inventory | Dead inventory | Dead inventory | Other current assets | Current Assets | Assets | Balance sheet |
| Dropshipping, Dropship goods, Inventory dropshipping | Dropshipping | Dropshipping | Other current assets OR Costs of Goods Sold (depends on dropshiping method) |
Current Assets OR Costs of Goods Sold (depends on dropshiping method) |
Assets OR Cost of Goods Sold |
Balance sheet OR P&L |
| Fulfillment | Dropshipping - fulfillment | Dropshipping | Other current assets | Current Assets | Assets | Balance sheet |
| Printing | Dropshipping - printing | Dropshipping | Other current assets | Current Assets | Assets | Balance sheet |
| Production | Dropshipping - production | Dropshipping | Other current assets | Current Assets | Assets | Balance sheet |
| Finished products, Finished goods, Product purchase, Inventory, Cost of goods sold, COGS | Finished products | Finished products | Other current assets | Current Assets | Assets | Balance sheet |
| Graphic design products | Graphic design - products | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Inventory assembly costs | Inventory assembly costs | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Inventory custom fees and services, Tariff | Inventory custom fees and services | Inventory custom fees and services | Other current assets | Current Assets | Assets | Balance sheet |
| Inventory duties and tax | Inventory duties and tax | Inventory duties and tax | Other current assets | Current Assets | Assets | Balance sheet |
| Inventory insurance | Inventory insurance | Inventory insurance | Other current assets | Current Assets | Assets | Balance sheet |
| Inventory maintenance | Inventory maintenance | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Supplier fees, Inventory vendor fees | Inventory vendor fees | Inventory vendor fees | Other current assets | Current Assets | Assets | Balance sheet |
| Manufacturing costs | Manufacturing costs | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Manufacturing labor | Manufacturing labor | Production labor costs | Other current assets | Current Assets | Assets | Balance sheet |
| Other inventory indirect costs | Other inventory indirect costs | Other inventory indirect costs | Other current assets | Current Assets | Assets | Balance sheet |
| Packaging materials, Wrapping materials, Bags, Cartons, Boxes, Envelopes | Packaging materials | Packaging materials | Other current assets | Current Assets | Assets | Balance sheet |
| Pallet costs | Pallet costs | Pallet costs | Other current assets | Current Assets | Assets | Balance sheet |
| Printing | Printing | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Product giveaways | Product giveaways | Product giveaways | Other current assets | Current Assets | Assets | Balance sheet |
| Production costs | Production costs | Production costs | Other current assets | Current Assets | Assets | Balance sheet |
| Production labor | Production labor | Production labor costs | Other current assets | Current Assets | Assets | Balance sheet |
| Shipping & freight in, Shipping to warehouse, Freight to warehouse | Shipping & freight-in | Shipping & freight-in | Other current assets | Current Assets | Assets | Balance sheet |
| Shipping between warehouses, Freight between warehouses | Shipping between warehouses | Shipping & freight-in | Other current assets | Current Assets | Assets | Balance sheet |
| Shipping supplies | Shipping supplies | Packaging materials | Other current assets | Current Assets | Assets | Balance sheet |
| Shipping surcharge | Shipping surcharge | Shipping surcharge | Other current assets | Current Assets | Assets | Balance sheet |
| Supplies & materials, Raw materials | Supplies & materials | Supplies & materials | Other current assets | Current Assets | Assets | Balance sheet |
| Wholesale supplier | Wholesale supplier | Finished products | Other current assets | Current Assets | Assets | Balance sheet |
| Warranty reimbursement from inventory vendors | Warranty reimbursement | Warranty reimbursement | Other current assets | Current Assets | Assets | Balance sheet |
Unit-based COGS (InventoryIQ)
With InventoryIQ, COGS are recorded when you sell products, based on detailed purchase order (PO) data you manage in Finaloop.
Here’s how it works:
You add a Purchase Order (PO) in InventoryIQ.
This increases your Inventory on the Balance Sheet and also increases a separate account called “Vendor POs - rolling balance.” This account reflects the open balance owed for inventory that’s been ordered but not yet paid for.
When you categorize a payment (from a bank, credit card, or bill) using one of the inventory-related categories listed above, it reduces the “Vendor POs - rolling balance” accordingly.
⚠️ Exception: You can also set rules for specific vendors or categories to treat some transactions as incidentals (e.g., packaging materials or labels). These will:
Increase COGS in your P&L at the time of purchase, and
It won’t impact the Vendor POs - rolling balance.
📌 Key takeaway: COGS will only hit your P&L when you sell products, not when you purchase them, unless you mark a purchase as an incidental expense. Learn more here.
Shipping & fulfillment expenses
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Fulfillment services, 3PL | Fulfillment services | Fulfillment Services Fees | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Pick & pack, Fulfillment services |
Pick & pack | Fulfillment services fees | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Postage | Postage | Shipping & freight-out | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Prep costs, Preparation costs |
Preparation costs | Fulfillment Services Fees | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping back from customers, Shipping costs paid for returns from customers |
Shipping back from customers | Shipping back from customers | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping labels | Shipping labels | Shipping & freight-out | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
| Shipping to customers, Freight to customers |
Shipping to customers | Shipping & freight-out | Shipping & fulfillment | Cost of Goods Sold | Gross Profit (Loss) | P&L |
3. General & administrative expenses
Brick & mortar / physical store expenses
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Pop up store, Pop up shop, Pop up retail | Pop-up store | Brick & mortar store expenses | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Storefront renovation, Storefront maintenance | Store maintainance & renovation | Brick & mortar store expenses | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Store security, Store security alarm | Store security | Brick & mortar store expenses | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Point of sale (POS) supplies, Store supplies, Store equipment | Store supplies | Brick & mortar store expenses | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Car & truck expenses
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Car & truck | Car & truck | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Car insurance, Vehicle insurance, Truck insurance | Car insurance | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Car license, Vehicle license, Truck license | Car license | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Car registration, Vehicle registration, Truck registration | Car registration | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Gas (car & truck), Fuel, Gasoline, Oil | Fuel | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Parking, Garage rent, Valet parking | Parking | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Vehicle repair, Car repair, Vehicle maintenance, Car maintenance, Truck repair, Truck maintenance, Tires | Vehicle repair & maintenance | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Vehicle wash, Car wash, Truck wash | Vehicle wash | Car & truck | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Contractors
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Contractor payment, Independent contractor, Freelancer | Contractor payment | Contractors | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| PEO services, Professional employer organization services | PEO services | Contractors | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Virtual assistant | Virtual assistant | Contractors | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Customer service
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Customer service | Customer service | Customer service | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Customer success, Customer experience, CX | Customer success | Customer service | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Customer support | Customer support | Customer service | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Financial & legal services
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Accountant, CPA, Accounting services | Accountant | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Bookkeeping | Bookkeeping | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| CFO services, Fractional CFO services | CFO services | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Consulting | Consulting | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Financial services | Financial services | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Tax services | Tax services | Financial services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Attorney, Lawyer, Notary | Attorney & notary | Legal services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Incorporation fees, formation fees | Incorporation fees | Legal services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Legal services, Due diligence | Legal services | Legal services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Home office expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Home office expenses, Cable, TV, Electricity, Gas, Insurance, Interest mortgage, Internet, Wifi, Maintenance, Property tax, Real estate tax, Rent, Lease, Repairs, Telephone, Utilities, Water | Home office expenses | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. |
Insurance
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Business insurance | Business insurance | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Insurance | Insurance | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Property insurance, Office insurance, Warehouse insurance | Property insurance | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Shipping insurance | Shipping insurance | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Workers' compensation | Workers' compensation | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Mortgage insurance for business property | Mortgage insurance | Insurance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
License fees & registrations
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| License fees | License fees | License fees, registrations & other taxes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Registration fee, Company registration fee | Registration fee | License fees, registrations & other taxes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Regulatory fees | Regulatory fees | License fees, registrations & other taxes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Office related expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Computer, Office PC, Laptop, Tablet, iPad, Copier | Computers (less than $2,500) | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Computer, Laptop, Office PC, Tablet, iPad, Copier | Computers (over $2,500) | Computers | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Fax machine | Fax machine | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Equipment less than $2, 500 | Office equipment | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Equipment more than $2,500 | Equipment (over $2,500) | Equipment | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Furniture, Office furniture, Fixtures, Table, Desk, Chairs, Safe box (less than $2,500) |
Furniture & fixtures (less than $2,500) | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Furniture, Office furniture, Fixtures, Table, Desk, Chairs, Safe box (over $2,500) |
Furniture & fixtures (over $2,500) | Furniture & fixtures | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Office phone | Office phone | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Office supplies, Office goods, Office accessories, Office stationery, Business cards, Papers, Pens & pencils | Office supplies | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Printer | Printer | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Printer ink, Toner | Printer ink | Office supplies & equipment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Brick and mortar lease | Brick and mortar rent | Rent & lease | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Rent, Lease, Tenancy | Rent | Rent & lease | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Cleaning | Cleaning | Repairs & maintenance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Maintenance | Maintenance | Repairs & maintenance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Renovation | Renovation | Repairs & maintenance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Repairs | Repairs | Repairs & maintenance | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Reimbursements
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Contractor reimbursement, Reimbursement to contractors | Reimbursement to contractors | Reimbursement to contractors | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Reimbursements to owners, Reimbursements to shareholders | Reimbursement to owners | Reimbursement to owners | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Employee reimbursement, Reimbursement to employees | Reimbursements to employees | Reimbursements to employees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Service and other fees
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Payment processor fees | Payment processor fees | Fees - other | Processing Fees | Merchant fees | Cost of Goods Sold | P&L |
| Marketplace fees, Amazon fees, Walmart fees, eBay fees, Etsy fees | Marketplace fees | Service fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Other fees, Other fees | Other fees | Service fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Processing fees, Processing charge | Processing fees | Service fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Service fee | Service fee | Service fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Store fees, Seller fees | Store fees | Service fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Software & subscriptions
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Analytics tool | Analytics tool | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Dues & Subscriptions, Subscription | Dues & Subscriptions | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Inventory management software (IMS), IMS | Inventory management software (IMS) | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Membership fees | Membership fees | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Payment gateway fees | Payment gateway subscription fees | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Software, Application software, App, SaaS, VPN service | Software | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Website domain, Domain renewal, Web domain, Website hosting | Website domain | Software & subscriptions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Travel
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Bike, Scooters | Bikes & scooters | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Flight, Airline | Flight | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Hotel, Hostel, Motel, Airbnb | Hotel | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Lodging, Accommodation | Lodging | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Public transport, Public transit, Train, Rail, Metro, Bus | Public transport | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Rental car | Rental car | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Taxi | Taxi | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Toll fee | Toll fee | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Travel, Transportation | Travel | Travel | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Utilities
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Cable bill, TV bill | Cable bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Electricity bill | Electricity bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Gas bill | Gas bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Internet bill, Wifi bill | Internet bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Mobile bill, Cell phone bill | Mobile bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Telephone bill, Phone bill, Call center fees | Telephone bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Utilities | Utilities | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Water bill | Water bill | Utilities | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Warehouse
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Storage | Storage | Warehouse | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Warehouse | Warehouse | Warehouse | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Warehouse rent | Warehouse rent | Warehouse | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Warehouse supplies | Warehouse supplies | Warehouse | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Warehouse security, Warehouse security alarm | Warehouse security & tech systems | Warehouse | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
Other General & Administrative Expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Donation, Charitable contributions, Charity, Endowment, Gift for charity | Donation | Charitable contributions | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Company wide event, Holiday event, Company event, Company wide vacation, Company vacation, Vacation | Company-wide event | Company events | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Chargeback, Credit card chargeback, Customer chargeback, Write off (refund & no return) | Chargeback | Disputes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Dispute, Customer dispute | Dispute | Disputes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Employee experience | Employee experience | Entertainment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Entertaining clients | Entertaining clients | Entertainment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Entertainment, Company entertainment, Business entertainment | Entertainment | Entertainment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Streaming, Video streaming, Music streaming | Streaming | Entertainment | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Gift to contractor, Gift card to contractor | Gift to contractor | Gifts | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Gift to customer, Gift card to customer, Gift to client, Gift card to client | Gift to customer | Gifts | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Gift to vendor, Gift card to vendor, Gift to supplier, Gift card to supplier | Gift to vendor | Gifts | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Hiring, Recruiting, Job posting | Hiring | Hiring and recruiting services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Management services | Management fees | Management fees | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Groceries, Supermarket, Kiosk, Convenience store, Refreshments | Groceries | Meals | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Meals, Food, Drinks, Beverage, Restaurant, Breakfast, Lunch, Dinner | Meals | Meals | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Fraudulent charge, Scam, Fraud | Fraudulent charge | Miscellaneous | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Miscellaneous, Other expense | Miscellaneous | Miscellaneous | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Test transaction | Test transaction | Miscellaneous | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Operations, Moving expenses | Operations | Other operations expenses | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| IT Services, Technology Services | Technology & IT services | Other professional services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Professional services, Professional fees | Professional services | Other professional services | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Product samples, Samples, Product research, Prototypes | Product samples | Product samples | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Education, Educational event, Course, Online course | Education | Training & education | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Training, Mentoring, Coaching | Training | Training & education | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Uniform, Clothing | Uniform | Uniform & business clothing | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
4. Salaries & Wages
Payroll expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Guaranteed payments, Partner compensation for services, Member compensation for services | Guaranteed payments | Guaranteed payments | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Officer compensation | Officer compensation | Officer compensation | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Bonus to employee | Bonus to employee | Salaries & wages | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Salary, Wages, Payroll, Employee compensation | Salaries & wages | Salaries & wages | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Employee benefits, Employee benefits program, Social benefits, Employee medical expense | Employee benefits | Salaries & wages - employee benefit programs | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Gift to employee, Gift card to employee | Gift to employee | Salaries & wages - employee benefit programs | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Gym, Fitness, Workout class, Pilates, Yoga | Gym & Fitness | Salaries & wages - employee benefit programs | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Medical insurance, Health insurance, Dental insurance | Medical insurance | Salaries & wages - employee benefit programs | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| Wellness | Wellness | Salaries & wages - employee benefit programs | Payroll | Opex | Net Operating Profit (Loss) | P&L |
| 401(k) contribution | 401(k) contribution | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Pension | Pension | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Profit sharing plan | Profit sharing plans | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Retirement plan | Retirement plan | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Employee retention credit, ERC refund | Employee retention credit | After you select this, our team will review & categorize correctly | ||||
| Payroll taxes, Employer taxes, Employee taxes, Unemployment insurance | Payroll taxes | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| IRA contribution, Individual retirement arrangement (IRA), SEP contribution | IRA contribution | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. |
5. Sales & Marketing (S&M)
Variable advertising & marketing
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Affiliate marketing | Affiliate marketing | Affiliate marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Ambassador marketing, Ambassador program | Ambassador marketing | Affiliate marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Mail marketing, Direct mail advertising | Direct mail marketing | Direct mail marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Email marketing, Email campaign | Email marketing | Email marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Influencer, Influencer marketing, Talent fee | Influencer | Influencers | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Outdoor advertising, billboard advertising | Outdoor advertising | Offline advertising | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Print advertising, Brochures, Flyers, Posters | Print advertising | Offline advertising | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Radio advertising | Radio advertising | Offline advertising | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Advertising, Online Marketing Ads, Pay per click (PPC), Performance marketing, Digital marketing, Search engine marketing (SEM), Ad spend, Paid Ads, Paid media, Display ads | Paid online ads | Paid online ads | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Advertising agency, Paid media agency, Paid media consultant, Paid media advisor, Paid media contractor | Performance marketing agencies | Performance marketing agencies | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Social media marketing | Social media marketing | Social media marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Sponsored media | Sponsored media | Social media marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Text marketing, SMS marketing | Text & SMS marketing | Text & SMS marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
Fixed marketing
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Logo design | Logo design | Branding | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Branding, Marketing brand, Business brand | Marketing brand | Branding | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Product brand | Product brand | Branding | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Animations | Animations | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Blog writing, Blog, Blog posts, Article, Content writing, Copywriting | Blog posts & articles | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Graphic design | Graphic design | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Content creation, Content marketing | Other content creation | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Photoshoot, Photography, Photographer | Photoshoot | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Podcast | Podcast | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Search engine optimization (SEO), SEO | Search engine optimization (SEO) | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Video marketing, Videography, Content filming | Video marketing | Content marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Creatives | Creatives | Creatives | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Market research, Market analysis | Market research | Market research | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| CRO agency, Conversion rate optimization agency | CRO agency | Marketing agencies & freelancers | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Marketing agency | Marketing agency | Marketing agencies & freelancers | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Marketing contractor, Marketing freelancer, Advertising contractor, Advertising freelancer | Marketing contractor | Marketing agencies & freelancers | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Marketing software, Marketing app, Marketing tool, Marketing subscription | Marketing software | Marketing software & subscriptions | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Marketing, Other marketing | Other marketing | Other marketing | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Product giveaways shipping | Product giveaways shipping | Product giveaways shipping | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Merchandise display programs | Merchandise display programs | Promotions | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Sales promotions, Coupons promotions | Sales promotions | Promotions | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Trade spend | Trade spend | Promotions | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Public relations (PR), PR, PR event | Public relations (PR) | Public relations | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Pop up booth fee, Pop up application fee, Pop up participation fee | Booth fee | Trade shows & events | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Marketing event, Marketing show | Marketing event | Trade shows & events | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Trade show, Trade fair, Trade exhibition, Trade exposition, Conference | Trade show | Trade shows & events | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Trade show supplies, Trade show items | Trade show supplies | Trade shows & events | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Trade show travel | Trade show travel | Trade shows & events | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Website design, Web design, Landing page design | Website design | Web design & development | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Website development, Web development, Research and development (R&D) website | Website development | Web design & development | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
Sales expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Business development, Biz dev | Business development | Business development | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Commission, Sales commission | Sales commissions | Sales commissions | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
| Sales contractors, Sales freelancer | Sales contractors | Sales contractors | Sales & marketing (S&M) | Opex | Net Operating Profit (Loss) | P&L |
6. Research & Development (R&D) Expenses
R&D / Product development expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| R&D contractor, Research and development contractor, Development contractor | R&D contractor | R&D contractors | Research & development (R&D) | Opex | Net Operating Profit (Loss) | P&L |
| Product design | Product design | R&D expenses | Research & development (R&D) | Opex | Net Operating Profit (Loss) | P&L |
| Research and development (R&D) product, Product development | Research and development (R&D) - product | R&D expenses | Research & development (R&D) | Opex | Net Operating Profit (Loss) | P&L |
| Product quality control | Product quality control | R&D expenses | Research & development (R&D) | Opex | Net Operating Profit (Loss) | P&L |
7. Interest & Financing Expenses
Interest, loan, and financing fees
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Account authorization fees, Account verification fees, ACH verification fees, Bank verification fees | Account authorization fees | Bank charges & fees | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Account authorization fees, Account verification fees, ACH verification fees, Bank verification fees | Account authorization fees returned | Bank charges & fees | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Bank fees, Bank charge, Insufficient funds fees, Overdraft fees, ATM fees | Bank fees | Bank charges & fees | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Credit card fee, CC fee, Debit card fee | Credit card fee | Bank charges & fees | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Foreign exchange (F/X) fees, F/X fees | Foreign exchange (F/X) fees | Bank charges & fees | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Origination fees, Loan origination fees | Origination fees | Interest & financing | Interest & financing expenses | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Interest income, Interest earned | Interest income | Interest income | Interest & financing income | Interest & Financing Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Interest expenses, Interest charge, Loan interest, Loan fees, Financing fees | Interest expenses | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. |
8. Other Income & Expenses
Other non-operating expenses
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Car fines, Parking tickets, Speeding tickets | Car fines | Penalties & settlements | Other expenses | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Lawsuit settlement, Enquiry settlement, Investigation settlement | Lawsuit settlement | Penalties & settlements | Other expenses | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Penalty, Fine, Penalty interest | Penalties | Penalties & settlements | Other expenses | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Cashback credit | Cashback credit | Cashback & rewards | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Rewards, Credit card rewards, Credit card points, Redemption credit | Rewards | Cashback & rewards | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Dividend income | Dividend income | Dividend income | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Grant income | Grant income | Grant income | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Insurance reimbursement, Insurance claim, Insurance refund | Insurance reimbursement | Insurance reimbursement | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Rental income, Lease income | Rental income | Rental income | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Royalties income | Royalties income | Royalties income | Other Income | Other Income (Expenses) | Net Profit (Loss) before taxes | P&L |
| Other income, Other non operating income | Other income | Other income | Other income | Other Income & Expenses | Net Profit (Loss) before taxes | P&L |
9. Taxes
Business taxes
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Estimated federal tax | Estimated federal tax | Federal taxes | Taxes | Taxes | Net Profit (Loss) | P&L |
| Estimated franchise tax, Estimated privilege tax | Estimated franchise tax | Franchise tax | Taxes | Taxes | Net Profit (Loss) | P&L |
| Estimated state income tax | Estimated state income tax | State & local taxes | Taxes | Taxes | Net Profit (Loss) | P&L |
| Foreign tax, Foreign income tax | Foreign tax | Foreign taxes | Taxes | Taxes | Net Profit (Loss) | P&L |
| Excise tax | Excise tax | License fees, registrations & other taxes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Property tax, Real estate tax | Property tax | License fees, registrations & other taxes | General & administrative (G&A) | Opex | Net Operating Profit (Loss) | P&L |
| Federal tax, IRS payment, Internal revenue service | Federal income tax | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Goods and services tax (GST), GST | Goods and services tax (GST) | GST | Tax liabilities | Current Liabilities | Liabilities | Balance sheet |
| Local tax, City tax | Local tax | State taxes | ||||
| Payroll taxes, Employer taxes, Employee taxes, Unemployment insurance | Payroll taxes | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| State income tax | State income tax | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Sales tax, Sales tax submitted | Sales tax | Sales tax | Tax liabilities | Current Liabilities | Liabilities | Balance sheet |
| Use tax | Use tax | Sales tax | Tax liabilities | Current Liabilities | Liabilities | Balance sheet |
| Value added tax, VAT tax, VAT | Value added tax | VAT | Tax liabilities | Current Liabilities | Liabilities | Balance sheet |
10. Assets / Liabilities
Prepaid or accrued expenses
If a transaction relates to a prepaid expense (prepayment/ early payment) or an accrued expense that occurred in the past, you can spread the transaction over a period of time or select the specific day it relates to.
To learn more, check out this article.
Fixed assets / Equipment
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Equipment over $2, 500, Machinery | Equipment (over $2,500) | Equipment | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Land purchased | Land purchased | Land | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Leasehold improvements | Leasehold improvements | Leasehold improvements | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Truck purchased | Truck purchased | Vehicles | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Vehicle purchased, Car purchased | Vehicle purchased | Vehicles | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Building purchased, Office building purchased, Warehouse purchased, Brick and mortar store purchased | Real property purchased | Buildings | Net fixed assets | Long Term Assets | Assets | Balance sheet |
| Building renovation, Office renovation, Warehouse renovation, Brick and mortar store renovation, Real property | Real property renovation | After you select this, our team will review & categorize correctly | ||||
| Sale of vehicle, Sale of car, Sale of truck, Sale of building, Sale of computer, Sale of equipment, Sale of furniture, Sale of fixture, Sale of land, Sale of office, Sale of warehouse, Sale of other fixed asset, Sale of storefront, Sale of truck, Car sale, Truck sale | Sale of fixed asset | After you select this, our team will review & categorize correctly |
Intangible assets
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Intangible asset purchased | Intangible asset purchased | Other intangible assets | Net intangible assets | Long Term Assets | Assets | Balance sheet |
| Sale of intangible asset, Sale of tradermark, Sale of IP | Sale of Intangible asset | Other intangible assets | Net intangible assets | Long Term Assets | Assets | Balance sheet |
| Trademark | Trademark | Trademarks | Net intangible assets | Long Term Assets | Assets | Balance sheet |
| Expenses incurred before the business began its operations, Starting business costs | Startup costs | After you select this, our team will review & categorize correctly |
Investments
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Investment in Crypto, Investment in Cryptocurrency | Investment in Crypto | Investments | Investments | Long Term Assets | Assets | Balance sheet |
| Investment in securities, Investment in shares | Investment in securities | Investments | Investments | Long Term Assets | Assets | Balance sheet |
| Sale of investment, Sale of stocks (shares) | Sale of investment | After you select this, our team will review & categorize correctly |
Other current assets
| Keywords/ Description |
Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Security deposit, Vehicle security deposit, Rent security deposit | Security deposit | Security deposits | Other long-term assets | Long Term Assets | Assets | Balance sheet |
| Security deposit returned, Vehicle security deposit returned, Rent security deposit returned | Security deposit returned | Security deposits | Other long-term assets | Long Term Assets | Assets | Balance sheet |
Personal or related party transactions
To understand more about why personal transactions create a liability, check out this article on how we categorize related party loans.
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Personal expense, Owner expense, Personal | Personal expense | Personal | Due to/from owner | Loan to a related party | Current assets | Balance sheet |
| Personal loan payment | Personal loan payment | Personal | Due to/from owner | Loan to a related party | Current assets | Balance sheet |
| Personal income, Owner's income, Personal | Personal receipt | Personal | Due to/from owner | Loan to a related party | Current assets | Balance sheet |
| Expenses paid for a related party, Expenses paid by the business on behalf of a related business | Related party expenses | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Related party balance - non interest bearing | Loan to a related party | Current assets | Balance sheet |
| Income recieved for a related party, Income recieved by the business on behalf of a related business | Related party income | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Related party balance - non interest bearing | Loan to a related party | Current assets | Balance sheet |
| Expenses paid both for the business and another party | Shared services | After you select this, our team will review & categorize correctly |
Loans
Certain loan transactions will be automatically identified and categorized. For others, you can select one of the following categories:
| Money-In Transactions (i.e., funds received) | Money-out Transactions (i.e., funds paid) |
| Business loan, loan taken, loan, note, promissory note | Loan repayment, Loan payment, Loan paydown, Mortgage payment |
| Owner's loan, Shareholder loan, Founder loan | Owner's loan, Shareholder loan, Founder loan |
| Related party loan, Transfer from a related business, Transfer to a related business, Affiliate loan, Related business loan | Credit line repayment, LOC repayment, Loan repayment |
| line of credit draw, Line of credit, Credit line, Loan, LOC | Car loan payment, Vehicle loan payment |
| Convertible loan, CLA, Convertible note | Related party loan, Transfer from a related business, Transfer to a related business, Affiliate loan, Related business loan |
Accounts Payable / Bill Payment
If you're categorizing a payment that’s paying off a bill (instead of a new expense), make sure to mark it as a bill payment—this helps avoid counting the same expense twice.
Just type something like bill payment, vendor bill payment, or supplier bill payment into the category search. This will trigger a Smart Flow that lets you pick the exact bill the payment is for from a list. It’s a quick and easy way to keep your expenses accurate and make sure your payables are tracked correctly.
Learn more here.
11. Account transfers
Transfers between accounts / Bank transfers / Credit card payments / Cash transfers
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Transfer from another bank account, Transfer between company accounts, Account transfer | Transfer from another bank account | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Transfer from owner (transfer in), Transfer from personal account, Transfer from private account | Transfer from owner (transfer in) | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Transfer out to store or payment processor, Transfer back to store or payment processor, Top up | Transfer out to store or payment processor | After you select this, our team will review & categorize correctly | ||||
| Transfer to another bank account, Transfer between company accounts, Account transfer | Transfer to another bank account | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | ||||
| Transfer to owner (transfer out), Transfer to personal account, Transfer to private account | Transfer to owner (transfer out) | After you select this, our team will review & categorize correctly | ||||
| Credit card payment, Payment for a credit card, Credit card bill payment | Credit card payment | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. |
12. Equity Transactions
Equity/ Capital / Contributions/ Owner Investments
| Keywords/ Description | Account Name | Parent Account | Report Category | Report Group | Report Section | Report |
| Owner's contribution, Capital contribution, Shareholder's contribution, Equity contribution | Owner's contribution | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Capital | Equity | Balance sheet | |
| Owner's draw, Distribution, Dividend distribution, Owner distribution | Owner's draw | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Capital | Equity | Balance sheet | |
| Owner's investment | Owner's investment | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Capital | Equity | Balance sheet | |
| Investor, Investment in the business | Investor | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Capital | Equity | Balance sheet | |
| SAFE, Simple agreement for future equity | SAFE | This triggers a Smart Flow with a few questions. Your answers help us handle the transaction correctly. | Capital | Equity | Balance sheet |
If you have any questions at all, feel free to reach out to support at books@finaloop.com for more help.
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