Question

I'm using an expensify card for some transactions and they show up strange in my accounts

Forum|Forum|5 years ago
July 12, 2021
1 reply
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Hello:

We have a very small partnership with three owners: Myself, my wife, and our third partner. We all use expensify to track personal expenses. My wife and I typically use an expensify card for expenses, which acts like a debit card in that it passes the expenses through to our bank account (so we don't have to pay a credit card bill at the end of the month). We are able to categorize and see all of these expenses in the expensify app.

On the QBO side, though, many of the transactions just show up as "Expensify" as the vendor (presumably because Expensify bundles charges to save on fees). This is fine, but I don't know how to reconcile the expenses in expensify in order to split the bundled transactions in QBO. Does anyone else have experience doing this and making life easier? Otherwise, it might be better just to open a couple of credit card accounts for myself and my wife and link those to QBO instead.

QuickBooks Online

C

ChristieAnn 11

Hi there, jwir3.

Welcome to the QuickBooks Community. I appreciate you for sharing detailed information about your concern. With this, I'll ensure you're able to reconcile the expenses in Expensify in order to split the bundled transactions in QuickBooks.

There's a Split feature in QBO that allows you to split transactions, such as a large business travel expense between multiple accounts for better tracking. I suggest using that option to break down the bundled transactions before reconciling them.

Here's how:

Go to the Banking menu. Then, choose the Banking section.
Go to the For Review tab.
Select the downloaded Expensify transaction to expand the view.
If the option in the Action column is Match, change the Find match to Categorize.
Select Split next to the Add button. Then, it opens the Split transaction window.
Choose the Categories (the accounts) you want to split the transaction into.
Record an amount for each split.
Select a Vendor for each split.
Hit Apply and accept.

Once done, you can now reconcile your transactions. You can click this article to see the detailed steps on how to perform the process: Reconcile an account in QuickBooks Online.

Please refer to this article to view information on how the reconciliation report summarizes the beginning, ending balances, and lists which entries were cleared and were left uncleared when you reconciled: How do I view, print, or export a reconciliation report?.

Keep in touch if you need further assistance with this, or if there's anything else I can do for you. I've got your back. Have a good day.

J

jwir3Author

Oh, I don't think I was very specific. The problem is that Expensify doesn't group the transactions in a report. In other words, in Expensify, I have a series of transactions that were made on the card. For example, one might be for $50, one for $25, and one for $75. But, Expensify then makes all of these a single transaction to my bank. So all i see is a single $150 transaction which I have to manually split as you mentioned.

But, the expenses show up in Expensify as separate expenses. Is there any way to automate this splitting? Or at the very least, see which expenses were grouped into a transaction in Expensify?

T

TirzahC

Hi there, jwir3.

Allow me to chime in and add additional information about Expensify in QuickBooks Online (QBO

In QuickBooks Online, we can't control if the bank bulks the extensify transaction.QuickBooks will display the description based on what the bank had provided. The best way is you can do the manual split and create bank rules. These rules let you split a transaction and categorize it per class.

I've also added these articles for more details about banking:

I'm just a post away if you need anything else. I want to ensure you're all set. I'll be always around ready to help.

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