Find out how to get the most out of your ZenBusiness Money.
ZenBusiness Money Pro is a service built for self-employed entrepreneurs that tracks all your mileage, expenses, income streams, and tax deductions in real time. ZenBusiness Money Pro helps the average customer save thousands each year on their tax bill by calculating valuable tax deductions and automating their financial records.
1) Link your bank accounts and/or credit cards that you use to manage your business 2) Set up your invoice template 3) Set up your tax profile and 4) enable the ability to set up online payments.
Once you’ve completed these three steps, we recommend going through your expenses and tagging them as Business or Personal. This is the best way to get started with ZenBusiness Money Pro.
You’ll see several tiles that show you real-time data once you start using the product. The tiles include: Profit & Loss, Cash Flow, Expenses, Income, Invoicing, Taxes and Mileage Tracker.
To access any of the pages, click on the tile or click on the page title in the left navigation pane.
Expense Tracking has a full-page view. Select the Expenses tile to launch the page, or select the Expenses page in the left navigation pane.
There are several tiles on the Overview page. Select the Expenses tile to view your total expenses and total expenses for the month in real time. You can also view last year’s data by changing “This Year” to “Last Year.”
An active bank account, your online banking credentials (username and password), and a mobile device that receives texts.
There are several places on the ZenBusiness platform to link your bank account. When you first land on the ZenBusiness dashboard, you’ll be presented with a black pop-up window that’ll prompt you to link your bank account. The other way to link your bank account is by navigating to the ZenBusiness Money Overview page. On the Expenses tile, you’ll see where to link your bank account.
When you begin linking your bank account, first locate your banking institution (Bank of America, Chase, Wells Fargo, etc). You’ll need to enter your banking credentials (username and password), approve sharing your bank account data, and then choose which accounts you want to link. Plaid will display all the accounts that are available to you through that banking institution. For example, if you have a checking account, savings account, and a credit card, you can bulk select all of those accounts at once.
We’ve integrated with Plaid. Your data is secure and will never be compromised. Check out Plaid’s website if you want to know more about their data security:
Yes, you can link an active credit card, as long as the banking institution is supported by Plaid.
Because errors can vary, it’s best to contact our Customer Success agents.
If your online banking credentials or account number has changed, you’ll be prompted to relink your bank account. If you see this message and think it’s an error, please contact our Customer Success agents.
Typically, you’ll see transactions for the last 30 days. Once those expenses have been tagged as business or personal, you’ll be prompted to approve pulling in prior expenses.
Yes, link multiple accounts by selecting all the accounts listed after you’ve entered your online banking credentials. You may see many accounts listed, such as your checking account, savings account, and a credit card account. You may select all three if necessary.
First, you should confirm that the spelling of the bank is correct. If it is, it’s likely Plaid doesn’t support that particular banking institution. This is more common for small credit unions.Take these steps to see if Plaid can make your bank available: https://plaid.com/trouble-connecting/
Generally, any expense not directly related to your business should be marked as “Personal,” so it’s not included in your self-employment tax estimates.
For more detailed info about deductions, check out this IRS article:
The Deduction Finder will scan through all of your expenses and show a grouping of expenses based on certain categories – Very Likely (likely a business expense), Not Likely (not likely a business expense), and Needs Review (we can’t tell if it should be business or personal).
All you have to do is confirm those categories are correct by selecting each transaction in bulk and marking them as Business or Personal. For the Needs Review transactions, make sure to spend some time on those and mark them appropriately.
If you’ve already tagged most of your expenses, the Deduction Finder may not find anything new for you to tag.
Follow these steps to manually tag an expense:
ZenBusiness Money lets you upload a receipt when adding or editing a transaction. The file format for receipts should be an image or a PDF.
To upload a receipt within an expense, select the specific expense from the list. Then select “+ Add a Receipt” and follow the instructions.
When exporting the Expense Detail List Report, there is a column called “Receipt,” which includes a link to each uploaded receipt.
You can split the expense by selecting “Split,” instead of Business or Personal. Indicate the dollar amount that should be counted as a business expense and the dollar amount that should be counted as a personal expense.
Yes, you can create a custom business or personal child category. That means the main categories you see listed are directly related to the Schedule C tax form – so you cannot change or create a parent category. You can add a subcategory like “Etsy account” to the main category of “Advertising.” To create a custom category, follow these steps:
To access the Expense reports, navigate to the Expenses page, select the gear, then select “View Reports.” These reports are available to download or email:
To import your expenses, navigate to the Expenses page, select the gear icon, then select “Import Expenses.”
To access the Expense reports, navigate to the Expenses page, select the gear then select “View Reports.” The following reports are available to download or email:
Expense rules help you automate your expense tracking by automatically tagging transactions from that vendor in the future.
When you begin to tag your expenses, you may see a banner display that says, “Suggested Rule.”
If you think some of your expenses are no longer showing, it’s likely just a filter! While on the Expenses page, change some of the default filters. For example, if you tagged several business expenses as “business” and you no longer see them, change the default filter of “All” to “Business.” Also make sure that you scanned the entire list of expenses, including any additional pages. We never delete your expenses, so if you are unable to find them even after going through these steps, please contact one of our Customer Success agents to assist you.
After you link your bank account(s) and/or credit cards, any additional money that is added to those accounts shows up as income on the Income page. You can tag those deposits as either business deposits or personal deposits. These dollar amounts are all tied to your Profit & Loss tile on the Overview page and your Taxes (estimated tax amounts).
Yes. If you’ve received income through a different bank account, you can add income manually by going to the Income page and clicking “+Add Income.” Complete the following info:
If someone pays an invoice, it should show up as a deposit from your bank account, which will automatically pull into the Income page. Once the deposit is processed, you’ll see it and be able to tag it as business or personal.
Income rules help you automate your income tracking by setting up rules to automatically tag certain deposits for you. For example, if you always want a deposit from Client X to be tagged as business income, setting up a rule will help with that.
To get the most accurate tax estimate in ZenBusiness Money Pro, make sure you set up your tax profile.
You can set up your tax profile one of two ways. When you’re a first-time user, you’ll be presented with a pop-up window on the Taxes page that’lll prompt you to set up your tax profile. Or, you can navigate to the Taxes page → gear icon.
You’ll be able to select the state in which you will file your taxes, your state and federal filing status, number of exemptions, and your annual W-2 salary before taxes. (That’s if you have a salaried job, in addition to owning a business or working as an independent contractor).
Note: ZenBusiness Money Pro’s Tax Engine doesn’t estimate any taxes owed on your W-2 income, since those are already withheld. It’s still important to add your annual W-2 salary so ZenBusiness can estimate your business taxes using the correct bracket(s). If you’re married filing jointly and your spouse has W-2 income, include their annual salary in this field as well.
With ZenBusiness Money Pro, you can track the tax payments you make throughout the year, so your tax estimates can be as accurate as possible. By tracking your tax payments, the Taxes screen will reflect how much you’ve paid and how much you owe.
There are two main ways to track your tax payments:
The following reports are available under the Taxes section:
This is a great question and an important one. We recommend you read this IRS article for specifics and requirements around recordkeeping and what’s deductible:
We include the self-employment tax filing fee in your ZenBusiness Money Pro subscription, both for state (one state only) and federal. We’ve partnered with TaxSlayer to help you file your business taxes. For any questions related to this or TaxSlayer, please visit their Customer Support Page. Call them at (706) 922-6741.
ZenBusiness Money Pro can save you both time and money on your tax filings.
Customers who have purchased ZenBusiness Money Pro receive a free annual tax filing through TaxSlayer (https://www.taxslayer.com/), which includes filing federal taxes plus one state.
During the tax season (January through April), the “File Taxes” button will be available and will also export all of your tax data from ZenBusiness into TaxSlayer’s online platform. This transfer is done automatically, but you can still manually enter any data that you do not have in ZenBusiness, such as prior-year data, additional income, or additional deductions.
Follow these steps to manually track your mileage:
Currently, mileage tracking is only available through our web-based platform and can only be entered manually.
The following reports are available under the Taxes section:
You have the option to set a favorite location under Mileage Tracking. To favorite a location:
You can have multiple vehicles for mileage tracking options. To add another vehicle:
To access the Mileage Tracking reports, go to the Mileage Tracking page, select the gear icon, then select “Reports.” You’ll see the following list:
When you first sign up for ZenBusiness Money Pro and navigate to the Invoicing page, you’ll notice a pop-up that prompts you to set up your invoice template. If you don’t have time to do it then and need to come back to it later, no problem. Just select the gear icon on the Invoicing page and fill out the info:
You can send Invoices through ZenBusiness Money Pro to clients. Here’s how to get started sending Invoices:
Currently, the limit is $2,500. Please contact ZenBusiness support for help in raising your daily invoice limit.
Yes, you can send a quote to a client by creating the invoice. When you’re ready to send it, click “Send as Quote.”
If you’d like to send a client a payment reminder, locate the invoice and select “Send Reminder.” Note that only invoices that have been sent to clients will show this button. You won’t see a “Send Reminder” option on quotes either.
Once you select “Send reminder,” you’ll see a pop-up that says, “A reminder has been sent.” Select “Ok” to close it.
If you need to remove, delete, or cancel an invoice, locate the invoice on the Invoicing page and locate the action button in the “Action” column. Based on the status of the invoice, the action button may be labeled “Edit Invoice” or “Send Reminder.” Either way, select the down arrow to see a list of other options. As long as the invoice is unpaid, select “Cancel,” which will remove the invoice from the list.
The invoice isn’t technically deleted – it’s archived.
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ZenBusiness Money helps you track and manage all your business finances in one place, so you can serve clients better, stay organized, and save time and money on taxes.
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