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Bookkeeping Tool

Updated

Bookkeeping

The Bookkeeping tool is your all-in-one bookkeeping solution, built right into your Tailor Brands dashboard. Connect your business bank accounts and credit cards, and it will automatically pull in your transactions, suggest categories, and generate real-time financial reports — so you always know where your business stands without drowning in spreadsheets. 

What's included

  • Track income, expenses, taxes, mileage, and time
  • Connect your bank accounts and credit cards for automatic transaction imports, or upload a CSV manually
  • Auto-categorization with suggested categories for each transaction
  • Financial reports: Profit & Loss, Balance Sheet, Cash Flow, and more
  • Tax estimates based on your categorized transactions
  • Mileage tracking with automatic IRS deduction calculations
  • General Ledger with Chart of Accounts and custom journal entries

Getting started

Step 1: Open the Bookkeeping tool

In your Tailor Brands dashboard, open Finance in the left sidebar and click Bookkeeping Overview.

Step 2: Connect your bank accounts and credit cards

  1. From Bookkeeping Overview, click Transactions in the left navigation.
  2. In the Linked Accounts section, select (+) New account.
  3. In the window that opens, click Continue as guest (entering your phone number is optional), find your bank under Select your institution, and click Continue to login.
  4. Follow the on-screen steps to log in and grant read-only access. If asked to select accounts, choose the ones you want to connect. If prompted for your phone number again, select Continue without saving.
  5. Repeat for any additional bank accounts or credit cards.

Step 3: Categorize your transactions

Once your accounts are connected, the Bookkeeping tool automatically pulls in your transactions and suggests a category for each one. Head to the Transactions tab to review them — you can accept a suggestion with Confirm, or pick a different category from the dropdown before confirming.

Step 4: View your finances

As you categorize, your reports and charts update in real time. Go to Bookkeeping Overview for a live snapshot of your Profit & Loss and expense breakdown, or head to Reports for detailed financial statements.

Managing your bank connections

Connect an additional account

  1. Go to Bookkeeping → Transactions.
  2. In the Linked Accounts section, select (+) New account.
  3. Follow the same steps as the initial setup above.

Unlink an account

  1. Go to Bookkeeping → Transactions.
  2. In the Linked Accounts section, click the account you want to remove.
  3. Select the three dots icon on the right.
  4. Click Unlink account and confirm.

Fix a disconnected account

Bank connections sometimes drop on their own — this is normal and easy to fix.

  1. Go to Bookkeeping → Transactions.
  2. In the Linked Accounts section, click Fix Account next to the disconnected bank.
  3. Select Repair connection and re-enter your credentials.

My bank isn't supported — can I still import transactions?

Yes! If your bank isn't supported, you can upload a CSV file instead.

  1. In Transactions, click the upload button (cloud with arrow) and select Upload transactions manually.
  2. Select the account from the dropdown, or choose Create Account if you haven't set one up yet.
  3. Upload your CSV. The file needs three columns in this exact order: Date, Description, Amount. Use Download a template if you need a formatting guide.
  4. Click Continue, review the transactions, and click Upload transactions when everything looks right.
  5. To upload another file, select Upload another file. When you're done, click I'm done uploading transactions and head to Transactions to start categorizing.

Categorizing your transactions

Keeping your transactions categorized is the most important thing you can do in the Bookkeeping tool — it's what makes your reports, tax estimates, and financial snapshots accurate.

Categorize one transaction at a time

  1. In Transactions, make sure the toggle is set to To Review.
  2. Use the Categorize dropdown on the right to select a category. Suggested categories appear at the top, or scroll down for All Categories.
  3. Click Confirm. The transaction moves to your Categorized list.

Bulk actions

You don't have to go one by one. Select multiple transactions using the checkboxes on the left, then choose from these bulk actions:

  • Bulk Confirm — accept the suggested categories for all selected transactions (available in the To Review tab). Click Confirm, then Confirm All.
  • Bulk Categorize — assign one category to multiple uncategorized transactions at once (available in To Review). Click Categorize, pick a category, then Categorize All.
  • Bulk Recategorize — change the category on transactions you've already categorized (available in the Categorized tab). Click Recategorize, pick a new category, then Recategorize All.
  • Bulk Uncategorize — send categorized transactions back to To Review (available in the Categorized tab). Click Uncategorize, then Uncategorize All.

Use the checkbox in the top-left corner of the transactions list to select everything on the page at once.

Edit a categorized transaction

  1. Switch the toggle to Categorized.
  2. Click the transaction you want to change.
  3. Make your edits in the expanded view and click Update.

Split a transaction

If a single transaction covers multiple categories, you can split it.

  1. In Transactions, click the transaction you want to split.
  2. Make sure the toggle under the date is set to Categorize.
  3. Click Split under the transaction amount. A new line appears — fill in the amount and category for each part.
  4. Click Confirm or Update.

Add a receipt or description

  1. Click the transaction you want to document.
  2. Type notes in the Description field, or click Upload receipt to attach a file.
  3. Click Confirm or Update.

Financial reports

To see your reports, click Reports in the left navigation. Here's what's available:

  • Profit & Loss — shows your revenue and expenses over a time period
  • Balance Sheet — a snapshot of your assets, liabilities, and equity at a point in time
  • Cash Flow Statement — tracks how cash moves in and out of your business
  • Trial Balance — balances of every account in your General Ledger
  • Expense reports — breakdown of expenses by category, vendor, and client
  • Income reports — breakdown of income by client
  • Time & Task reports — breakdown of tracked time by client and task
  • Mileage reports — breakdown of business mileage by client
  • Tax reports — prefilled Schedule C forms and categorized transactions for tax filing

Heads up: Reports only show categorized transactions. If your numbers look off, head to Transactions → To Review and confirm your pending transactions first.

General Ledger

View journal entries

Journal entries are the building blocks of your financial records — every transaction, adjustment, or payment is logged here. To view them, go to General Ledger in the left navigation and switch the toggle to Journal.

Manage your Chart of Accounts

Your Chart of Accounts is the full list of categories used to track your finances — what you earn, spend, own, and owe. It comes with a standard setup, but you can customize it.

Go to General Ledger and switch the toggle to Chart of Accounts.

To add an account:

  1. Click Add Account.
  2. Fill in the fields: Parent, Name, Type (Assets, Liabilities, Revenues, Expenses, or Equity), Sub-type, and Normality. Sub-type and Normality auto-populate based on the Parent you select, but you can edit them.
  3. Click Save.

To edit an account:

  1. Click the pencil icon on the right side of the account.
  2. Make your changes. Note: the Type field is locked after an account is created.
  3. Click Save.

Create a custom journal entry

  1. Go to General Ledger and switch the toggle to Journal.
  2. Click Add Entry and fill in the Date, Amount, and Account name. Use Add next account to add more lines.
  3. Make sure the total Debit equals the total Credit — the entry won't save until they balance.

To reverse an entry, find it in the Journal list and click Reverse.

Mileage tracking

If you use your vehicle for business, the Bookkeeping tool tracks your trips and automatically calculates your deductible amount based on the current IRS standard mileage rate.

Log a trip

  1. Go to Mileage in the left navigation and click Record Trip.
  2. Enter the date, distance traveled, start and end address, purpose (Business or Personal), and vehicle.
  3. Click Save Trip.

Tax estimates

Tax estimates are calculated automatically based on your categorized transactions and Tax Profile. The more up to date your categorized transactions are, the more accurate your estimates will be.

Set up your Tax Profile

  1. Go to Taxes in the left navigation.
  2. Fill in your filing status, annual W-2 income, tip income, overtime income, US state, and deduction information.

View your estimates

Go to Taxes → Estimates to see your projected taxes owed, broken down into federal, self-employment, and state taxes. Expand the dropdowns for a detailed view.

Track tax payments

When you categorize a transaction as a tax payment in Transactions, it automatically appears in Taxes → Payments. For each quarter, you can see the estimated amount owed, total paid so far, and your remaining balance.

Frequently asked questions

My bank just got disconnected. Did something break?

Nothing broke. Bank connections sometimes drop on their own, and it's completely normal. To reconnect: go to Transactions → Linked Accounts, click Fix Account next to the disconnected bank, select Repair connection, and re-enter your credentials.

My bank isn't in the list. How do I get my transactions in?

If your bank isn't supported, you can import a CSV instead. In Transactions, click the upload button, select Upload transactions manually, pick your account, and upload your file. The CSV needs three columns in this order: Date, Description, Amount. Use Download a template if your file isn't formatted that way.

Do I have to categorize every transaction one by one?

Nope! Use the checkboxes to select multiple transactions and use Bulk Confirm, Bulk Categorize, Bulk Recategorize, or Bulk Uncategorize depending on what you need. The top-left checkbox selects everything on the page at once.

I'm trying to save a journal entry and it won't let me. What am I missing?

Journal entries need to balance — the total Debit must equal the total Credit. Go to General Ledger → Journal → Add Entry, fill in your lines, and check that the totals match. Use Add next account to add more lines. Once they balance, it'll save.

I miscategorized an account type. Can I change it?

The Type field (Assets, Liabilities, Revenues, Expenses, Equity) is locked after an account is created. To fix it, create a new account with the correct Type under General Ledger → Chart of Accounts → Add Account, then recategorize your transactions to the new account.

I made a tax payment. How do I record it?

No manual entry needed — just categorize the transaction as a tax payment when it appears in Transactions. It will automatically show up in Taxes → Payments.

My report isn't showing all my transactions. What's going on?

Reports only include categorized transactions. Go to Transactions → To Review and bulk confirm your pending transactions — your reports will update right away.

Where did Invoices go?

Invoicing has moved to a separate section called Sales & Payments.

My Bookkeeping looks different than before. Is something wrong?

Nothing is wrong! We upgraded the Bookkeeping tool to give you a better experience.

How can I cancel my subscription?

To cancel, go to Account → Manage Account → My Purchases and select Deactivate. You can do this at any time.

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