How to Classify Transactions and Reconcile Bank Accounts in FreshBooks

Tim Yoder from Fit Small Business demonstrates how classify transactions from your live bank feed and reconcile your bank account in the fourth of five free FreshBooks tutorials. You can find all five FreshBooks tutorials at https://fitsmallbusiness.com/free-fre...

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Chapters
00:00 Intro
00:10 Step 1: Classify expenses imported from your bank account
03:53 Step 2: Reconcile imported bank transactions to FreshBooks transactions
04:03 Match cash outflows to expenses
09:53 Match cash inflows to existing cash collections
12:46 Mark cash inflows that are transfers, owner's equity, or expense refunds