Map Category to QBO Short Term Liability Account
We sell a product that requires maintenance work after the sale. The "Warranty Expense" is recognized in Period 1, offset by a liability account "Warranty Reserve".
When we put expenses in Expensify, I need them to reduce the Warranty Reserve liability account, rather than increase an expense.
When we connect our QBO accounts, it does not let me use a liability account as a Category.
Does anyone have suggestions on how to map our accounts? Currently everything is going to the expenses and I'm manually reclassifying everything but this seems unsustainable.
Answers
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Hi @kate_IC , from a product perspective, Expensify imports a subset of accounts as categories (you can see exactly which in this page, under the Categories heading).
I'm not sure how other customers have handled similar situations, so I'll leave that for them to address!
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The link just says Expensify imports short term liability accounts as a "Journal Entry". Can you explain what that means and how I can find that account in Expensify?
