Choose your bookkeeping setup

Simple Tracking

Choose Simple Tracking when you only need to record business income and expenses.

• Record Expenses and Income manually.
• Do not select Pay From or Deposit To accounts.
• Use Profit & Loss, category, transaction-activity, and applicable sales-tax reports.
• Banking, Transfers, Statements, Rules, Reconcile, Journal Entries, Balance

Sheet, Trial Balance, formal General Ledger, and Year End Review are not available.

• Categories are limited to income, direct-cost, and expense account types.
• Transactions do not wait for bank matching.

Simple Tracking does not maintain complete bank, credit-card, asset, liability, or equity balances. It is not a formal double-entry ledger. Home Office, Vehicle, and Rental Property simplified workflows are not available yet.

Continue to Simple Tracking.

Bank Account-Based Tracking

Choose Bank Account-Based Tracking when the Workspace tracks dedicated bank or credit-card balances.

• Expense entry requires Pay From.
• Income entry requires Deposit To.
• .qbo import and Bank Transactions are available.
• Transfers, Rules, and Reconcile are available.
• Manual transactions may participate in bank matching.

A sole proprietor or corporation may use this setup when dedicated business accounts are tracked. Statement workflows use explicit account eligibility rather than legal structure, account name, or account number. Continue to Bank Account-Based Tracking.

Can I change the Tracking Method later?

You can change it only before the Workspace contains active financial activity. xBoox also checks opening balances, bank and statement records, reconciliations, Journal Entries, Year End and specialist working papers, rental-property records, and pending Receipt Capture drafts.

After any of that activity exists, keep the Workspace for its history and create another Workspace for the other Tracking Method. Bank Account-Based Tracking requires a real Pay From or Deposit To for each transaction; xBoox does not guess those accounts for earlier Simple Tracking history. A new Workspace begins its own subscription when it is created. The existing Workspace remains active until its Owner changes or cancels its subscription.