How to Use This Manual Start Here
- First identify which account the transaction belongs to, such as
1000 Eastern Bank Checking 9639、1001 Eastern Money Market 8934、2075 AMEX - Amazon。 - Open the matching account section.
- Search by bank memo / description keyword, such as
ADP Tax、TIAA-CREF、EVERSOURCE。 - Enter the transaction in QBO using the Vendor / Category / Notes in this manual.
- If the manual says a report is required, review that report first, such as Payroll Details, Amazon Report, or FACTS detail.
- After posting, reconcile according to the account instructions and confirm
Difference = $0.00。
1000 Eastern Bank Checking 9639 Bank Account
Overview Overview
Bank Account：1000 Eastern Bank Checking 9639
| Bank Description / Memo | Vendor / Notes | Bookkeeping Category / Account | Type |
|---|---|---|---|
NGRID06 | National Grid | 7003-2 Building Expenses:Utilities:Oil and Gas | Utilities - gas |
ENERGY PROVIDER PURCHASE | Nstar Electric & Gas | 7003-3 Building Expenses:Utilities:Electricity | Utilities - electricity |
EVERSOURCE | Eversource | 7003-3 Building Expenses:Utilities:Electricity | Utilities - electricity |
PaymntBrand SV9T deposit | paymnt brand | 4500 Admissions Application Income | Application income |
PaymntBrand SV9T withdrawal | Payment platform fee | Business/Administration:Banking and Credit Card Charges:Banking Fees | Banking fees |
STRIPE TRANSFER | Stripe transfer | 1040 Stripe | Clearing / transfer |
ADP PAYROLL FEES / ADP FEES | ADP - Payroll fees | 5503 Business/Administration:Payroll service fee | Payroll service fee |
ADP WAGE PAY / WAGE PAY | ADP payroll | See Payroll and ADP rules | Payroll wages |
ADP Tax / ADP Tax | ADP tax deposit | See ADP Tax rules | Payroll taxes |
TIAA-CREF | retirement | See Retirement rules | Retirement |
WAGEWORKS FSA RECEIVABLE | WageWorks | 2109 Payroll Liabilities:EE Health FSA Withholding | FSA liability |
WAGEWORKS RECEIVABLE | WageWorks service/admin fee | 5503 Business/Administration:Payroll service fee | Payroll service fee |
MA Health Connec | Mass Health Connector | 6566 Staff:Payroll - Benefits | Health insurance benefits |
UNITED GRPW PREM | United GRPW | 6566 Staff:Payroll - Benefits | Health insurance benefits |
EMPOWER | Empower Annuity Ins Co | 5503 Business/Administration:Payroll service fee | Payroll service fee |
RAMP STATEMENT transfer | Ramp statement payment | 2060 Ramp | Credit card clearing |
AMEX EPAYMENT transfer | Amex payment | 2075 American Express - Amazon | Credit card clearing |
FACTS Remit | FACTS detail required | Review FACTS report before categorizing | Detail review |
Checking / Check | Check transaction | Review check image, then enter manually | Detail review |
Documents / Reports Needed Support
| Transaction / Situation | Supporting Document / Report Needed |
|---|---|
ADP WAGE PAY / ADP Tax | Payroll Details / Payroll Report |
| Separately processed ADP employee payroll | That employee's individual Payroll Report |
TIAA-CREF | Payroll Details + TIAA-CREF payment page |
FACTS Remit | FACTS remittance / detail |
Check / Checking | Check image、invoice、memo |
2075 AMEX - Amazon | Amazon Report, categorize based on Order Net Total |
STRIPE TRANSFER | Stripe payout / detail |
RAMP STATEMENT | Ramp statement / transaction detail |
Payroll and ADP ADP
ADP Wage Pay
ADP WAGE PAY / WAGE PAY is the payroll payment entry. It records employee gross wages, employee deductions, benefit deductions, net pay, and related payroll liabilities.
Use Payroll Details for the amounts. If an employee is processed separately, use that employee's individual Payroll Report.
| # | Account | Where to Find the Amount | Memo / Note |
|---|---|---|---|
| 1 | 6572 Staff:Payroll - Administrative | Wage allocation from Payroll Details | Administrative wages |
| 2 | 6562 Staff:Payroll - Academic | Wage allocation from Payroll Details | Academic wages; usually total employee gross income minus separately identified non-Academic employee amounts. |
| 3 | 6579 Staff:Payroll - Custodial | Wage allocation from Payroll Details | Custodial wages |
| 4 | 2101 Payroll Liabilities:Retirement Withholding | 403(b) plan % | 403(b) |
| 5 | 2101 Payroll Liabilities:Retirement Withholding | Roth 403(b) plan $ + Roth 403(b) plan % | roth |
| 6 | 2102 Payroll Liabilities:Withheld FICA | FED SOCSEC | ss |
| 7 | 2102 Payroll Liabilities:Withheld FICA | FED MEDICARE | medicare |
| 8 | 2103 Payroll Liabilities:Withheld FIT | FED FIT | fit |
| 9 | 2104 Payroll Liabilities:Withheld SIT | MA SIT | sit |
| 10 | 1000 Eastern Bank Checking 9639 | Net Pay | net pay; actual payroll amount paid from the bank, entered as the checking credit. |
| 11 | 6566 Staff:Payroll - Benefits | HEALTH | health insurance |
| 12 | 2106 Payroll Liabilities:Withheld MA ML | MA ML | MA ML |
| 13 | 2105 Payroll Liabilities:Withheld MASS FL | MA FL | MA FL |
| 14 | 6572 Staff:Payroll - Administrative | Employee-specific allocation | Example: E.N. 50% |
| 15 | 6562 Staff:Payroll - Academic | Employee-specific allocation | Example: E.N. 50% |
| 16 | 6572 Staff:Payroll - Administrative | Employee-specific allocation | Example: P. 100% |
| 17 | 2109 Payroll Liabilities:EE Health FSA Withholding | FSA pre-tax $ | FSA |
| 18 | 2110 Payroll Liabilities:EE DCFSA Withholding | Dependent care pre-tax | DCFSA |
E.N. Allocation Rule
If an employee is allocated 50% / 50%, list the allocation separately so it can be reviewed and tracked if the percentage changes later.
| Category | Description |
|---|---|
6572 Staff:Payroll - Administrative | E.N. 50% |
6562 Staff:Payroll - Academic | E.N. 50% |
Chart of Accounts, find the prior ADP WAGE PAY / WAGE PAY split transaction with memo / description net pay, then click Edit -> More -> Copy. Copy the prior entry, keep the prior split categories as a reference, then update each line amount based on the current month Payroll Details / individual employee Payroll Report.ADP Tax
ADP Tax / ADP Tax is the payroll tax deposit entry. Use Payroll Details for tax and employer tax amounts. Do not include Deductions in this entry.
Line 1 uses Debit for Taxes from the Payroll Report. Lines 2-10 use the corresponding tax items from Payroll Details.
| # | Account | Where to Find the Amount | Memo / Note |
|---|---|---|---|
| 1 | 1000 Eastern Bank Checking 9639 | Debit for Taxes from the Payroll Report | adp tax deposit |
| 2 | 2102 Payroll Liabilities:Withheld FICA | FED SOCSEC | fica / ss |
| 3 | 2102 Payroll Liabilities:Withheld FICA | FED MEDICARE | medicare |
| 4 | 2103 Payroll Liabilities:Withheld FIT | FED FIT | fit |
| 5 | 2104 Payroll Liabilities:Withheld SIT | MA SIT | sit |
| 6 | 6563 Staff:Payroll - Taxes | FED SOCSEC-ER | fica match |
| 7 | 6563 Staff:Payroll - Taxes | FED MEDICARE-ER | medicare match |
| 8 | 6563 Staff:Payroll - Taxes | MA SUI-ER | mass unemployment |
| 9 | 2106 Payroll Liabilities:Withheld MA ML | MA ML | MA ML |
| 10 | 2105 Payroll Liabilities:Withheld MASS FL | MA FL | MA FL |
Chart of Accounts, find the prior ADP Tax / ADP Tax split transaction with memo / description adp tax deposit, then click Edit -> More -> Copy. Copy the prior entry, keep the prior split categories as a reference, then update each line amount based on the current month Payroll Report / Payroll Details.Separately Processed ADP Employee Payroll
If an employee is processed separately, ADP WAGE PAY / WAGE PAY and ADP Tax / ADP Tax should use that employee's individual Payroll Report, not the company-level Payroll Details.
ADP WAGE PAY / WAGE PAY and ADP Tax / ADP Tax. But in bookkeeping, the split appears as one transaction with only two lines: wage + employer tax.
| Category | Where to Find the Amount |
|---|---|
6562 Staff:Payroll - Academic | That employee's gross income. |
6563 Staff:Payroll - Taxes | That employee's employer payroll tax; only add FED SOCSEC-ER + FED MEDCARE-ER + MA SUI-ER。 |
Do not include employee withholding taxes, such as FIT, SOCSEC, MEDICARE, SIT, MA ML, and MA FL.
R.G. Example
| Category | Amount |
|---|---|
6562 Staff:Payroll - Academic | $1,219.97 |
6563 Staff:Payroll - Taxes | $117.56 |
Pay Frequency: Biweekly = paid every two weeks.
Retirement TIAA-CREF
TIAA-CREF -> retirement
Use the retirement items in Payroll Details and split into two lines:
Employer Match - 6567
6567 Staff:Payroll - Benefits:ER Matching Retirement
Add the retirement match items under the Employer column:
403(b) % employer matchRoth 403(b) $ employer matchRoth 403(b) % employer match
Employee Withholding - 2101
2101 Payroll Liabilities:Retirement Withholding
Add the employee retirement withholding items under the Deductions column:
403(b) plan %Roth 403(b) plan $Roth 403(b) plan %
Empower Retirement. In Chart of Accounts, find the prior Empower Retirement split entry, then click Edit -> More -> Copy. Copy the prior entry, keep the prior split categories as a reference, then update each line amount based on the current month payroll / retirement details.Payroll Service Fees / Benefits Fees
Payroll Service Fee / Admin Fee
| Bank Memo | Vendor / Description | Category |
|---|---|---|
ADP PAYROLL FEES / ADP FEES | ADP - Payroll fees | 5503 Business/Administration:Payroll service fee |
EMPOWER | Empower Annuity Ins Co | 5503 Business/Administration:Payroll service fee |
WAGEWORKS RECEIVABLE | WageWorks service/admin fee | 5503 Business/Administration:Payroll service fee |
WAGEWORKS RECEIVABLE does not include FSA, so treat it as a payroll service fee.WAGEWORKS FSA RECEIVABLE includes FSA, so it is Payroll Liabilities.
Payroll Liabilities / FSA
WAGEWORKS FSA RECEIVABLE -> WageWorks -> 2109 Payroll Liabilities:EE Health FSA Withholding
This clears the Health FSA withholding deducted from employee payroll.Receivable Do not treat Receivable literally as accounts receivable here; treat it as WageWorks FSA clearing.
Payroll Benefits / Health Insurance
MA Health Connec -> Mass Health Connector -> 6566 Staff:Payroll - Benefits
UNITED GRPW PREM -> United GRPW -> 6566 Staff:Payroll - Benefits
UNITED GRPW PREM is a group insurance premium payment to United Healthcare / United GRPW.
Purpose: employee health insurance benefits.
Utilities Building
Oil and Gas
| Bank Memo | Vendor | Category | Notes |
|---|---|---|---|
NGRID06 | National Grid | 7003-2 Building Expenses:Utilities:Oil and Gas | Gas |
Electricity
| Bank Memo | Vendor | Category | Notes |
|---|---|---|---|
ENERGY PROVIDER PURCHASE | Nstar Electric & Gas | 7003-3 Building Expenses:Utilities:Electricity | Electricity |
EVERSOURCE | Eversource | 7003-3 Building Expenses:Utilities:Electricity | Electricity |
Payment Platforms Income
PaymntBrand
| Bank Memo | Type | Category | Notes |
|---|---|---|---|
PaymntBrand SV9T | Deposit | 4500 Admissions Application Income | Admissions application income |
PaymntBrand SV9T | Withdrawal | Business/Administration:Banking and Credit Card Charges:Banking Fees | Payment platform or banking fee |
PaymntBrand SV9T must be categorized based on whether it is a deposit or a withdrawal.Stripe
STRIPE TRANSFER -> 1040 Stripe
This is a transfer from Stripe balance to the bank, not direct income. Income and fees should be reviewed in Stripe details; the bank STRIPE TRANSFER is only clearing / transfer.
Credit Card / Clearing Transfers Transfer
Ramp
| Bank Memo | Type | Account |
|---|---|---|
RAMP STATEMENT | transfer | 2060 Ramp |
Ramp statement payment or transfer; do not book directly to expense. Categorize expenses based on Ramp details.
American Express - Amazon
| Bank Memo | Type | Account |
|---|---|---|
AMEX EPAYMENT | transfer | 2075 American Express - Amazon |
Amex payment or transfer; do not book directly to expense. Categorize Amazon/Amex expenses from the credit card details.
FACTS Remit Review
FACTS Remit -> review FACTS detail before categorizing.
- Do not categorize based only on the bank description.
- Review the remittance/detail in FACTS.
- Use the detail to determine whether it is tuition, fees, refund, service charge, or another item.
- Use the FACTS detail as the basis for bookkeeping classification.
Chart of Accounts, find a transaction with type Deposit, category -Split-, and blank memo, then click Edit -> More -> Copy. Copy the prior entry, keep the prior split categories as a reference, then update each line amount based on the current month FACTS report.Checks Review
Check transactions should be reviewed using the check image on the last page of the bank statement. Determine the purpose from the payee, memo, invoice, or supporting document, then manually enter the vendor, category, description, and amount.
1001 Eastern Money Market 8934 Bank Account
Bank Account：1001 Eastern Money Market 8934
This is the company's money market deposit account, mainly used to hold funds and earn interest.
| Bank Description / Memo | Bookkeeping Category / Account | Notes |
|---|---|---|
Interest Credit | 4300 Other Income: Bank Interest | Bank interest income |
Book Transfer | 1000 Eastern Bank Checking 9639 | Transfer to / from 1000 Eastern Bank Checking 9639 |
After Posting:Reconcile and confirm Difference = $0.00。
2075 AMEX - Amazon Account
Account：2075 AMEX - Amazon
This account is mainly used for Amazon purchases.
Review the Amazon Report and categorize each transaction based on Order Net Total.
After Completion:Reconcile and confirm Difference = $0.00。