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What kind of transactions are included in the Basic Transaction Categorization service?

Basic transactions categorizations include loans, sales tax remittance, inventory contributions, inter-company transactions, and more.

Botkeeper's Basic Transactions Categorizations include:

  • Loans -  will be split based on statement provided by the partner or client and reconciled to the balance sheet
  • Sales Tax remittance - based on history
  • Inventory contributions - based on history
  • Intercompany transactions - based on history
  • Capitalization policy - defaulted with a $2,500 threshold unless partner or client provide a policy for us to follow
  • Manual checks - requires check images for categorization purposes; otherwise these will be assigned to the entity point of contact to complete in the Transaction Manager section of the portal
  • Matching - the following will be managed via 1:1 matching
    • Amazon receipts
    • Deposits or expenses 
    • Note: accuracy is not guaranteed

 Transactions Not Included:

  • Foreign bank accounts
  • Calculation of foreign exchange gains or losses
  • Calculation of unrealized gains or losses
Accounts to be included for transaction categorization must be scoped via the scoping tool in the portal and statements need to be provided by the information cutoff deadlines set in the required information section herein.