Overview

Part of the onboarding process is building a complete set of books in QuickBooks Online (QBO) to capture your business income and expense activity as of January 1.

Most of the transaction data to build your books comes from the business checking, savings, credit, and paypal accounts we connect on the banking window in QBO.

The remaining transactions to build your books comes from business transactions that went through personal accounts that we purposely don't connect to QBO.

Most of these remaining transactions are historical because going forward you must run all business transactions through bank accounts that are connected to QBO.

A small portion of these remaining transactions are part of the transition while you stop using your personal accounts for business transactions.

A final type of remaining transactions are mixed transactions. For example, rent is an expense used by both your business and personal life.

Action

1. Export business income and expense transactions as of January 1
from your checking, savings, credit, Paypal, and/or Venmo accounts, or from your previous accounting system. The exported files can be in CSV or EXCEL format. Let us know if you need help navigating your bank's website to export these transactions.

2. Delete personal transactions AND notate mixed used transactions, like rent, used by both your business and your personal life.

3. Drop spreadsheets in your slack channel.

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