3 ms·
So let's say I have a $29.99 expense from AMAZON.COM and tag it as a marketing expense. Then I buy something else from Amazon tomorrow for $44.99. Are you tell
by enraged_camel 9y ago
So let's say I have a $29.99 expense from AMAZON.COM and tag it as a marketing expense. Then I buy something else from Amazon tomorrow for $44.99.
Are you telling me that it gets automatically tagged as marketing? Because that seems... naive at best, and hugely problematic at worst (as it can result in a huge amount of expenses getting incorrectly tagged).
- wdaher 9y agoThis is exactly why the human is in the loop and why the solution isn't purely software — to help come up with processes and mechanisms for resolving this sort of ambiguity. (Every outsourced bookkeeper today has this challenge, and there are a variety of options for resolving it, depending on what the customer requires.)
- ckeck 9y agoExactly what I came to ask, because I have at least a handful of vendors (perhaps more) that I have to key in across multiple categories. Rules cannot be applied to these transactions. For the obvious ones, I already have automatic rules build right into QuickBooks Online. What is different here?
- fma 9y agoMy guess...they use quickbooks in the background, which allows you to upload receipts. If the description of your amazon receipt looks like furniture, then they'll mark it as such...if it looks like office supplies...office supplies. I use Wave, which lets you upload receipts and it will perform OCR to extract vendor info, date, total cost. It's not much of a leap to go 1 step further and look at the line items and categorize...again just a guess.