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The Bookkeeping Rules applied are not very helpful, what can I do?

Bookkeeping Rules

If the Bookkeeping Rules applied by Level are not very helpful, you can take the following steps to adjust and improve them:

Modify Bookkeeping Rules:

  • Go to the Settings window.

  • Navigate to the Bookkeeping Rules section.

  • Review the existing rules and modify them as needed to better suit your business requirements. You can enable or disable specific rules by toggling the "Enabled?" switch next to each rule.

Assess Your Industry Needs:

  • Consider the specific requirements and financial nuances of your industry. Each sector may have distinct transaction types, compliance standards, and reporting needs.

Evaluate Your Business Processes:

  • Analyze your current bookkeeping processes, including sales management, expense tracking, payroll, and inventory management.

  • Identify areas where automation and rule-based notifications can enhance efficiency.

Check out the Level guide on "How to Determine the Best Bookkeeping Rules for your Business" here.

Stay Compliant and Informed:

  • Ensure that the selected Bookkeeping Rules are aligned with industry compliance standards. This is essential for accurate financial reporting and avoiding penalties.

  • Example: Enabling the "Transactions Voided" and "Transactions Deleted" notifications helps monitor transactions for seamless reconciliation at month-end.

Consult Level Copilot Recommendations:

  • Level Copilot can automatically recommend the best Bookkeeping Rules based on your industry by scanning your QBO once it has synced with Level.

  • You can also access a network of accountants through Level for tailored guidance. Contact Level Support

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