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Update Balances

  • Frequency: Weekly
  • Log into Quickbooks and navigate to Transaction->Banking
  • Click Update. (It may be necessary to use the left right arrows to see the status of all bank accounts) After the update, verify success by looking for the word "moments ago" on the bottom right corner of each bank account section along the top of the page

PEX Reconciliation

  • Frequency: Weekly
  • Log into Quickbooks and navigate to Transaction->Banking and select the PEX account
    • Note the date of the last transaction
  • Log into PEX and export to Quickbooks: https://admin.pexcard.com/#/admin/export/quickbooks
    • Select a start date that is one day after the the last transaction in Quickbooks
    • Select an end date that is yesterday (never choose the current date)
    • If this range is > 3 months, then do this process multiple times with smaller date ranges
  • In Quickbooks
    • In the upper right corner, select Update->File Upload
    • browse to the *.qbo file downloaded from PEX
    • Select PEX in the dropdown for account

Transaction Categorization

  • Frequency: Weekly
  • Use only the following accounts for area host and votes transactions:
    • Education (books, fees for 3rd party classes, online subscription fees)
    • Equipment (non-portable equipment/tools >= $1000, mandatory software and associated license fees, annual maintenance subscriptions)
    • Maintenance (break-fix and non-subscription routine maintenance costs/supplies/materials)
    • Software (including license fees)
    • Supplies (normal operations consumables, small tools, materials)
    • Tools (non-portable equipment/tools < $1000, small and portable, reusable equipment)
  • In Quickbooks, transaction class is associated with budgets. This field is optional so make sure the correct one is assigned:
    • Administrative (catch all classification)
    • Arts & Textiles Area (Area host budget)
    • CNC Area (Area host budget)
    • Cold Metals Area (Area host budget)
    • Electronics Area (Area host budget)
    • General Area (Area host budget)
    • Kitchen Area (Area host budget)
    • Hot Metals Area (Area host budget)
    • Votes (<year>): <vote name> (items associated to specific votes)


  • Frequency: Monthly (60 days after month-end)
    • Close out transactions for each month
    • Can be changed so long as year-end reconciliation has not been performed