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How to Track Expenses in Money Pro

To track expenses in Money Pro, connect your bank account and transactions import automatically within 3–5 business days of posting. Money Pro categorizes them into IRS Schedule C categories. Review uncategorized transactions using the Deduction Finder, correct any miscategorizations, and add receipts to large transactions. Your expense reports update in real time.

How Automatic Expense Tracking Works

  1. You link your bank account (or credit card) through Plaid
  2. Transactions sync automatically after they fully post to your bank (3–5 business days)
  3. Money Pro identifies the merchant and assigns an IRS Schedule C expense category
  4. You review and correct any miscategorizations
  5. Money Pro learns your corrections and applies them automatically going forward (expense rules)

Using the Deduction Finder

The Deduction Finder is the fastest way to process a backlog of untagged transactions after your initial bank connection:

  1. Go to the Expenses page
  2. Click Find Deductions
  3. Money Pro scans all transactions and groups them:
  4. Very Likely — clearly business expenses
  5. Not Likely — appear personal
  6. Needs Review — unclear (restaurants, general retailers, etc.)
  7. Confirm or override each group in bulk
  8. For Needs Review items, evaluate each transaction individually

Manually Categorizing Individual Transactions

  1. Click any transaction in the Expenses list to open it
  2. Click the current category label
  3. Select the correct IRS Schedule C category from the dropdown
  4. Optional: click Create Rule if prompted, to apply this category to all future transactions from this merchant

Adding Expenses Manually

For cash purchases, expenses from accounts you don't want to link, or expenses from a personal card:

  1. Go to Expenses → click "Add Expense"
  2. Enter: date, vendor name, amount, Business or Personal, category, which business, receipt photo (optional), and whether it recurs
  3. Click Save Details

Attaching Receipts

Attach receipt photos to transactions for audit protection, especially for meals, travel, and equipment purchases:

Mobile app: Open the transaction → tap the camera icon → take a photo or select from your camera roll

Web: Open the transaction → click + Add a Receipt → upload a photo or PDF

Splitting a Transaction

If one purchase includes both business and personal items, use the Split feature instead of marking it entirely as one type:

  1. Click the transaction
  2. Click Split
  3. Enter the dollar amount for the business portion and the personal portion
  4. Save

Expense Rules

Expense rules automate tagging for recurring merchants. When Money Pro suggests a rule after you categorize a transaction, accepting it means all future transactions from that merchant auto-categorize the same way. To manage rules: gear icon → Business Categories.

Frequently Asked Questions

My expenses from 5 days ago still aren't showing. Is something wrong?

Probably not — transactions take 3–5 business days after posting to your bank before they appear in Money Pro. Federal holidays add extra delays. If it's been more than 5 business days, go to gear icon → Banks & Integrations to check your connection status.

Can I add an expense for cash I paid?

Yes — use Add Expense on the Expenses page to manually enter cash transactions. Include the vendor, amount, date, and category. Add a receipt photo if you have one.

What if I paid a business expense from my personal card?

Add it manually via Add Expense, tag it as a business expense, and record the amount. This documents the expense so it's counted in your reports. Consider reimbursing yourself from your business account to keep records clean.

How do I handle business meals?

Categorize them under Meals — enter the full amount paid. The IRS limits the business meal deduction to 50%, but Money Pro tracks the full amount; your tax software or accountant applies the 50% limit at filing time. Add a note with who you met and the business purpose.

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