Quickbooks

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 expense categories for area host and votes transactions:
  • Education (books, fees for 3rd party classes, online subscription fees)
  • Equipment Purchases (non-portable equipment/tools, software, associated licensing or maintenance subscriptions)
  • Maintenance (break-fix and non-subscription routine maintenance costs/supplies/materials)
  • Supplies (normal operations consumables)
  • Tools (small and portable, reusable equipment)
• In Quickbooks, assigning a department to a transaction is optional, however, budgetary reports for area are generated by filtering by department so it is important to always select the department corresponding to the transaction as follows:
  • Votes
  • CNC
  • Cold Metals
  • Electronics
  • Kitchen
  • Hot Metals