What is included in Botkeeper's Basic Transaction Categorizations?

Botkeeper codes transactions using historical data, client-level rules, AI, ML, and human oversight, including quality control and exceptions management.

• When deposits are made, they will either be sorted into revenue accounts or matched to customer payments that were already recorded and applied by the client. It is important to note that the match must be exact - a 1:1 match.
• Expenses will either be categorized into expense accounts or matched with vendor payments that have already been recorded by the client. It's essential to note that the match must be precise, a 1:1 match.
• If requested during scoping, loan transactions can be divided into principal and interest. This can be done through either a standard journal entry or an automated journal entry (if applicable), and is only possible when loan documentation is provided.