Daily routine and reports
The daily routine is Max's morning note and your short list of things only a person can decide. Reports show the numbers that come out of your books.
Turn on the daily routine
It starts off.
- Open Daily routine and tap Turn on. Only the owner and admins can change it. Other members can read it.
- Pick the run time and your time zone.
- Each morning Max reads what your bank link pulled, sorts new transactions using the category rules you confirmed, matches strong payments to open invoices and bills, and writes a short note.
- Tap Run now to make today's note on demand. You can also include the note in your morning email.
Max refreshes each linked account weekly, or daily if you turn that on. Each refresh is paid from your data balance. If the balance is short, Max skips the refresh and lists it under Needs you. Between refreshes he uses what the bank last sent and says when that was.
You set a monthly limit for routines (it starts at $10). When the limit or your balance runs out, Max stops and tells you. After 14 days with no sign-in the routine pauses and you get one email. It starts again when you sign in.
Needs you
Needs you lists what is waiting for a person:
- funding to decide and deposits to explain
- possible matches, possible duplicates and personal charges, held out of your P&L until you decide
- a new payee to categorize, and unusual or unusually large payments
- a category past its monthly limit
- "Your monthly report is ready" at month end, and the quarterly interest reminder
- last month's statement from each personal card
Items about money stay until you decide. Max never moves money, sends anything, posts an accrual or locks a month on his own.
Close and lock a month
- In Daily routine, tap Close and lock and pick the month.
- It closes only when nothing is held and your books' cash equals the bank statement's closing balance, or you confirm a reconciling entry for the difference.
- After a month is locked, Max refuses any invoice, bill, payment, void, imported bank line or match dated in it, and his automatic categorizing skips it.
- To unlock, the owner or an admin gives a reason, and it is logged. Unlock the newest month first.
The owner, admins and a CPA seat can download the general ledger and the trial balance as CSV.
Reports
Open Reports. The tabs are Monthly report, Profit and loss, Balance sheet, Cash, Sales tax and Reconcile. Below them are the reports Max saved from chat.
- Monthly report: pick a month to see its profit and loss, the balance sheet at month end and the cash position. Tap Print / Save as PDF.
- Profit and loss: every category from your chart of accounts. Pick a period (This month, Last month, This quarter, Last quarter, Year to date, All dates or Custom) and accrual or cash. The owner or an admin can set the default.
- Balance sheet: cash, money owed to you, bills you owe, tax owed, accrued interest, loans and equity. Assets equal liabilities plus equity.
- Cash: for each bank account, the starting balance, money in and out, and the ending balance. It is a cash position report, not a cash flow statement under GAAP.
- Sales tax: tax charged, collected, paid and owed now. The rate is your setting. Max doesn't pick a rate or file returns.
- Reconcile: tap Run reconcile to apply the sure matches. Everything still open is listed with the reason. Mark month reconciled locks the month under the same checks as above.
Every report says it comes from Max's books, the same figures as the other tabs and chat. Ask in chat: "Show me my P&L for last quarter." Tap Open on a saved report to read it, or Delete to remove it.
Not yet
- Matching can guess wrong in close cases, such as the same customer and amount on two invoices. Check Reconcile before you lock a month.
- Reports exported before your books were restarted aren't listed.
- Tax filing and payroll.