I feel tense just typing that word. Rules seem to constrain our spirits when we want to be free and creative. Sometimes they make a whole lot of sense (typically common sense), such as: don't be on the beach during a lightning storm. Sometimes they don't make much sense at all: don't harass Bigfoot (yes, it is a law here in Washington State!).
Now stop harassing Bigfoot and pay attention!
If you use QuickBooks Online, you know how awesome it is to get that daily bank feed/import from your banks into QuickBooks. It makes categorizing your money very, very easy. Sometimes though you have to watch QuickBooks. As it tries to be "helpful" it can sometimes make mistakes. For example, say every few days you go to Chevron to get gas for your car. Every week that charge is imported into QuickBooks Online from your bank and usually it gets the category right (gasoline), you just click "add" and move on. Every now and then, QuickBooks throws a trick and this week it wants to categorize it as "groceries." Whaaaat?
Don't Press Add!
If you watch ESPN then you know Coach Herm Edwards says, "Don't Press Send!" when it comes to tweets, emails, and other forms of electronic communication sent in the heat of the moment. Same is true for QuickBooks Online in that a lot of people just "add" without looking closely at how QuickBooks Online wants to categorize the transaction. Then, when they look at their Mint reports they are shocked at how much was spent on groceries and when they drill down on the amount, they see those miscategorized gas transactions and say "$&*#!"
Ummm, I thought QuickBooks Online was supposed to help me?
It does it's best, it really does. If you've been reading this blog, then you know I keep saying it keeps getting better and better and it is! QuickBooks Online just came out with a new update to help make sure those goof-ups don't happen. It's called Rules and now, with those standard and consistent money transactions that happen every week (going to the grocery store, getting gas, getting office supplies) you can now set up a rule within QuickBooks Online that says something like "always put purchases from Chevron into the expense category 'gasoline'." Or, always book that direct deposit from Disney as "Disney Income."
How do you this? Watch the below video from QuickBooks Online!
Hey, maybe Rules aren't so bad!
Especially when YOU create your own Rules, like you can now with QuickBooks online.
And that is what I want for you. Make your own rules with your money. This is what money tracking systems do for you now. You can customize them so they look and feel right to you. Instead of accepting the general old rules that probably turned you off from money systems, you can make your own new rules! It's really cool.
If you'd like help getting your Mint set-up and customized, give me a call!
Happy Rule Making!