MK&A Instructions for Coding Uncategorized Income & Expenses

Understanding and Coding Your Uncategorized Transactions

Every month, the team at MK&A prepares a comprehensive suite of financial reports for your business—including your Profit & Loss statement, Balance Sheet, and bank reconciliations—to keep your records clean, accurate, and audit-ready.

Sometimes, bank feeds or receipts come through with ambiguous details that our automated systems or bookkeepers can’t definitively categorize. When that happens, we place those items into an Uncategorized Transactions report rather than guessing.

We rely on your insider knowledge as the business owner to tell us what these items are so we can finalize your books accurately.

How the Process Works

1. We Prepare Your Reports: MK&A compiles your monthly financial statements and flags any items that need your clarification.

2. You Review the Uncategorized Tab: Log into your MKA Secure Document Sharing Portal, open your monthly Excel report, and look for the tab titled “UNCATEGORIZED EXPENSES” (or Income).

3. You Provide Coding Guidance: Add two new column headers in the first available columns to the right of your report:

   • Personal / Business (1st column header)

   • Business Description (2nd column header)

4. Upload to the Portal: Save your updated Excel file and upload the coding guidance information directly into the secure document sharing portal under the FROM CLIENT section.

5. We Edit and Finalize: MK&A will be notified immediately that you have uploaded the information. Your bookkeeper will make the edits in QuickBooks per the details you provided, and your revised financial reports will then be created and uploaded for your final review.

Quick Coding Guidelines

When reviewing your items, use these straightforward rules to update your spreadsheet:

• For Personal Transactions: If an expense was personal and entirely unrelated to your business, simply type the word Personal in the first new column and leave the description blank. No further explanation is needed.

• For Business Transactions: If the expense supports your operations, type a brief, clear description in the second column (for example: ADVERTISING, TRAVEL, or OFFICE RENT).

By taking just a few minutes each month to provide this guidance, you ensure your financial statements and tax deductions remain precise and fully up to date.