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GENERAL QUESTIONS

 

What are Level Bookkeeping Notifications?

Level Bookkeeping Notifications track unusual transactions created or modified in the last 24 hours in your QuickBooks Online (QBO) account to help maintain the accuracy of your bookkeeping. It is best practice to be signed into your QBO account while going through the Level Bookkeeping Notifications to be able to use the included links.

 

What is a Bookkeeping Report?

A Bookkeeping Report is the detailed list of all notifications raised within the last 24 hours by each enabled Bookkeeping Rule managed in the Level web app. Optionally, the full report or specific notifications can be sent via email to ensure bookkeeping compliance issues are resolved as soon as possible!

 

How can I address notifications within the Bookkeeping Reports feed?

Open the detailed report by clicking on a dot on the interactive chart or a line item in the Bookkeeping Reports feed. Hint: if you want to focus on addressing a specific bookkeeping issue, you can filter the chart and reports by ‘Alert Type’ to only show those alerts!

 

Within the report, you will see details for each notification. To view the transaction in your QBO, click on the arrow in the Reporting Date column. Make sure you are logged into your QBO before clicking the link while reviewing the notifications detected by Level.

 

What information is available on the Bookkeeping Report?

The Bookkeeping Report describes the enabled bookkeeping rules that have generated notifications over the past 24 hours, and their significance to bookkeeping best practices. Most importantly, the report will highlight the specific transactions that failed to meet the bookkeeping rules, and provide an external link to the transaction to allow your bookkeeping team to address the issue. The report will summarize the transaction details by ‘Reporting Date’, ‘Transaction Type’, ‘Transaction Number’, ‘Vendor’, ‘Account’, and ‘Amount’.

 

Once the transaction has been reviewed and appropriately addressed, check the box in the ‘Addressed’ column to let your other team members know that it has been resolved!

 

Can I filter the data displayed on the Level Copilot Dashboard?

Yes, the dashboard can be filtered by ‘Alert Type’. Click the dropdown menu in the top right corner to select which ‘Alert Type’ to filter by.

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How do I access the daily reports generated by the Level Bookkeeping Notifications feature?

You can access the daily reports generated by the Level Bookkeeping Alerts feature in the ‘Bookkeeping Reports’ feed. Each report is organized by date, with the number of notifications indicated. A red alert bubble means 0 alerts addressed, orange means some addressed, and green means all addressed.

Is Level a ready-to-go application or will it be customized based on the industry/preference of the company?

Level Copilot is a ready-to-go application that can also be customized based on your company’s bookkeeping needs. Each client can select the Bookkeeping Rules for Level to monitor on a daily basis. To select which rules to monitor, open the Settings window. 

 

SETTINGS QUESTIONS

 

What is available in the Bookkeeping Notification Settings?

Set Preferences, and enable or disable the bookkeeping rules included in your Bookkeeping Report.

Can I turn off the email notifications?

In the top right corner of the Alerts tab, select Settings to edit the Preferences. The default setting is to have the emails Enabled. Change the preference to Pause to turn off the email alerts. The Bookkeeping Reports will still be generated, but no emails will be sent to the recipient groups.

How do I edit the people that receive the Bookkeeping Notification emails?

In the top right corner of the Alerts tab, select Settings to edit the Preferences. From here, click on the Manage Recipient Groups button. You can create groups and add email addresses to each group to receive specific notifications. 

Can I receive notifications for specific transactions or categories that I want to monitor?

Yes, rules can be set regarding alert types. In the Settings window, you can select which Bookkeeping Rules you want to receive email notifications for. Each group can individually subscribe or unsubscribe from a specific bookkeeping rule email notifications.

 

 


 

 

INTERACTIVE CHART QUESTIONS

 

How can I interpret the information displayed on the chart?

Each dot on the chart represents the number of notifications identified on each date. Hover over each dot to view the date and number of notifications. Click on the dot to open the Bookkeeping Report.

 

Can I filter the data displayed on the chart based on specific dates or types of notifications?

Yes. The chart can be filtered by the type of alert or by the report period.

The default setting is “All” alert types and a reporting period from the last 30 days.

 

To filter by Alert Type, click the dropdown menu from the top right corner option labeled ‘Alert Type’. Select the type of notification you would like to view.

 

To filter by Report Period, click the dropdown menu from the top right corner option labeled ‘Report Period’.
 

How often is the chart updated with new notification data?

The chart shows the results of each Bookkeeping Report, which are scheduled to run once a day at the time specified in the Alerts > Settings > Preferences section of the Level web app. 

 

What do each of the color-coded indicators in the feed represent?

A red indicator means 0 notifications addressed, orange means at least 50% have been addressed, and green means all have been addressed.




“TRANSACTION TYPE” QUESTIONS

What is “Transactions Posted to a Closed Bookkeeping Period?"
Receive a notification when a transaction has been posted to a closed bookkeeping period.
To ensure compliance, this specific notification requires extra information. When this Bookkeeping Rule is enabled, you will be required to add the month of the company's financial year end, frequency of bookkeeping tasks for the company (i.e. monthly, quarterly, etc.) and identify the amount of days after the bookkeeping period that the books should be complete.
What is “Vendors with Negative Balances”?

Be notified when a vendor’s A/P balance turns negative.

 

If you use the “Cash” accounting method for your reports, it's likely that these transactions have also resulted in an Unapplied Cash Bill Payment Expense in your profit and loss statement.
 

What are “Customers with Negative Balances”?

Be notified when a customer’s A/R balance turns negative.

What are “Duplicate Expense Transactions”?

An identified expense transaction is created or modified that may have been double counted in your books.

Compare expense transactions and open bills from the same supplier as the alert may have identified an expense that was duplicated or not applied against a bill.

“C/R” represents the cleared status of the transaction. A transaction can have 3 types of cleared statuses:

  • “Blank” (aka Uncleared) - The Uncleared status appears when a transaction is brought into your accounting system by not using your accounting software's bank feed

  • “C” (aka Cleared) - The Cleared status appears when a bank/credit card transaction has come directly from your bank. This could be via a bank feed or from importing a bank statement.

  • “R” (aka Reconciled) - The Reconciled status appears when a bank/credit card transaction in your accounting software has been reconciled to a bank statement. You can reconcile bank transactions through the bank reconciliation feature within QuickBooks Online.

The gray expense rows indicate existing expenses that were identified as potential duplicates, while the dark expense rows are the potential duplicate expenses recently added or modified by the identified user.

What are “Journal Entries”?

Be made aware when a journal entry has been created or modified within your accounting software.

Journal entries are a high risk transaction as they are typically used to hide fraud or if used incorrectly can lead to larger problems in your accounting software, for example journal entries should almost never be posted to Accounts Receivable (“A/R”) or Accounts Payable (“A/R”), instead the features within the A/R or A/P modules should be used to ensure the accuracy of your A/R and A/P reports are maintained.

What is “Missing Bill Numbers”?

A bill has been entered without a bill number.

Inputting bill numbers when you enter data into your accounting software helps prevent duplicate expense entries, and makes finding the documentation a lot easier should you ever get audited. 

What is “Transactions Missing Vendor/Customer Information”?

An expense income, deposit or similar transaction was posted to your accounting software that is missing a vendor or customer name.

Assigning vendor/customer information to your business's transactions has a number of benefits, like reducing the risk of fraud or duplicate entries, and providing extra security should you ever get audited.

What is “Transactions with a New Vendor in Any Account”?

The 'Transactions with a New Vendor in Any Account' alert notifies you when a new transaction is assigned to a new vendor or a vendor not transacted with for at least 13 months. Double-check these transactions to ensure they are correctly posted to the appropriate account. You can review vendors and associated transactions by accessing your QuickBooks Online account under Expenses > Vendors or by clicking this shortcut.

What is “Transactions Missing Classes”?

Classes are most often used to track transactions by department.
 

What is “Transactions Missing Location”?

Location is commonly used to track transactions by physical location where a company may operate from multiple sites or branches.
 

What is “Transactions Missing Product/Service?”

Transactions that have been posted to an account without a product/service.

What is “Transactions Posted to Parent Accounts”?

The 'Transactions Posted to Parent Accounts' rule is important for ensuring all transactions have been correctly assigned to a sub-customer rather than the parent customer in your accounting software for project-based bookkeeping. When items are incorrectly coded to the parent account, it will negatively impact the accuracy of your job costing reports.

 

 

 

“SECURITY ALERTS” QUESTIONS

What is “Transaction Voided”?​

A transaction was voided in your accounting software.

Warning: When a reconciled transaction is deleted it will create a reconciliation difference, and compromise the accuracy of your accounting data.

For a detailed audit history of the voided and deleted transactions, review the QuickBooks Online Audit Log for this report period.

What is “Transactions Deleted”?

A transaction was deleted.

A transaction can have 3 types of cleared statuses:

  • “Blank” (aka Uncleared) - The Uncleared status appears when a transaction is brought into your accounting system by not using your accounting software's bank feed

  • “C” (aka Cleared) - The Cleared status appears when a bank/credit card transaction has come directly from your bank. This could be via a bank feed or from importing a bank statement.

  • “R” (aka Reconciled) - The Reconciled status appears when a bank/credit card transaction in your accounting software has been reconciled to a bank statement. You can reconcile bank transactions through the bank reconciliation feature within QuickBooks Online.

Warning: When a reconciled transaction is deleted it will create a reconciliation difference, and compromise the accuracy of your accounting data.

For a detailed audit history of the voided and deleted transactions, review the QuickBooks Online Audit Log for this report period.

 

 

 

 

“NEW ITEM” ALERTS QUESTIONS

What is “New Product/Service Items”?

Receive notification when a new product or service has been created in your accounting software.

What is “New Vendors Added”?

Receive notification when a new vendor has been created in your accounting software.

 

 

“PROJECT/JOB COSTING” ALERTS QUESTIONS

What is “Expense Transactions Assigned to Customers Not Coded to Cost of Sales”?

Receive a notification when a transaction has been mistakenly treated as overhead.
What is "Cost of Sales Transaction Missing Customer Information"?

A 'Cost of Sales Transaction Missing Customer Information' occurs when a cost of sales transaction lacks essential customer details for proper tracking. It involves direct costs without complete customer information, impacting accurate cost attribution for improved financial analysis.
 

What is “Expense Transactions Assigned to Customers Not Marked as Billable”?

In the last 24 hours, a transaction was identified that is assigned to customers and not marked as “Billable”.

You can mark Expenses, Bills, and Time Charges as “Billable” in QuickBooks Online to quickly create a sales invoice from these transactions. This feature is helpful if you are charging your customers using a “Time and Material” or “Cost-Plus” pricing method.

What is “Billable Expense Transaction without an Attachment”?
Receive a notification when an attachment has not been added to an expense of bill marked as billable.
What is “Time Charges Assigned to Customers Not Marked as Billable”?

A time charge assigned to a customer that is not marked as “Billable”.

What is “Transactions Posted to Parent Customers”?

Non-posting (e.g. estimates) or posting transactions are recorded against a parent customer.

 

Privacy Questions

Do you sell my data?

​No, we do not sell your data. Your privacy and security are our top priorities. All data is securely stored in AWS data centers, ensuring that your information is protected with the highest standards. We use this data solely to provide and improve our services, and it is never shared with third parties for marketing or other purposes.

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