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Categorization Tips

How to Categorize a transaction?

  • How should I categorize cash back rewards? (i.e. using rewards points to pay off my credit card)
  • How do I account for selling my product at a consignment shop?
  • How should I categorize Shopify payouts?
  • How should I categorize costs for product packaging?
  • Are SAFE notes a liability or equity?
  • How do I categorize cash that I contribute to my business to cover bills the business needs to pay?
  • How do I categorize bank test deposits?
  • I received a Grant - how do I categorize this income?
  • I use my bank for online bill pay. How do those transactions get categorized?
  • I received a refund from a vendor. How do I categorize this?
  • Chart of Accounts - What is the "R&D Expense" expense account used for?
  • How should I categorize: costs for events such as expo’s, setting up a booth at a conference, swag, etc?
  • How should I categorize SEO (search engine optimization) fees
  • How should I categorize samples and giveaways?
  • Chart of Accounts - What is the "Trade Spend" account used for?
  • I received a Loan, how do I record that in my books?
  • What is Retained Earnings on my Balance Sheet?
  • I deposited a check and it bounced (the funds were withdrawn from my account). How do I categorized the cash outflow withdrawl?
  • Whether a Simple Agreement for Future Equity (SAFE) qualifies as Qualified Small Business Stock (QSBS)
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