# fiscal50: full product reference Source: https://www.fiscal50.com/ | Updated: 2026-11-10 fiscal50 is AI-powered bookkeeping and accounting software for small businesses and bookkeepers. It syncs bank and credit card feeds, recommends and explains every categorization, posts double-entry journal entries, reconciles accounts and produces financial statements, with invoicing, bills, inventory, fixed assets, 1099s and month-end close in one place. ## Company fiscal50, Inc, doing business as fiscal50. 6009 W Parker Rd, Ste 149-1248, Plano, TX 75093, United States. Founded 2023. Email support@fiscal50.com. Sister company: Maven Systems (https://www.mavensystems.us), which offers bookkeeping courses and Maven PMP practice management. ## Pricing (USD) ### Starter: $5.50 per month, or $59.50 per year For owners who want clean books without the busywork. 1 user. Fifty: unlimited Instant Answers, 25 AI Assist questions a month. First month free. No credit card required. - Bank integration through Plaid for 1 bank or credit card, Excel import and AI recommendations - Fifty, AI accountant: unlimited Instant Answers and 25 AI Assist questions a month - Invoices in 2 formats, bills and journal entries - Pre-configured chart of accounts, or create your own - Inventory and asset tracking - Financial reports - fiscal50 Academy lessons, guides and quizzes; e-mail support ### Business: $19.50 per month, or $210.50 per year Auto-reconciliation, online payments, 1099 and tax export. Up to 3 users. Fifty: unlimited Instant Answers, 50 AI Assist questions a month, tasks from the chat. - Everything in Starter - Bank integration for up to 5 banks and credit cards - Auto-reconciliation, month after month - Fifty runs tasks from the chat; 50 AI Assist questions a month - Online payments and more invoice formats - Check printing with a live preview - 1099-NEC: Copy B and CSVs for Track1099, Tax1099 and TaxBandits - Tax software export for TaxAct and Intuit - Operational and summary reports, Excel exports - Batch automation: recurring invoices, deferrals, depreciation, reminders ### Business Pro: $30.50 per month, or $329.50 per year More people, locations and companies, plus checkout pages and proposals. Up to 10 users. Fifty: unlimited Instant Answers, 100 AI Assist questions a month, tasks from the chat. - Everything in Business - Bank integration for up to 10 banks and credit cards - Checkout pages: payment links and QR codes, one-time or recurring - Proposals with online approval and progressive invoicing - Add and switch between companies - Prior-year balance sheets and year-over-year comparisons - Up to 10 users, multiple locations and special categories - App integrations (up to 2 apps) - 100 AI Assist questions a month ### Plan comparison (Starter | Business | Business Pro) Bank transactions to books: - Import transactions from Excel or CSV: included | included | included - AI recommendations: included | included | included - Live bank and card feeds through Plaid: included | included | included - Banks and credit cards you can connect: 1 | Up to 5 | Up to 10 - Auto-reconciliation of bank, card and loan accounts: not included | included | included Fifty, AI accountant: - Instant Answers from the fiscal50 guides: Unlimited | Unlimited | Unlimited - AI Assist questions a month: 25 | 50 | 100 - Tasks from the chat (create invoices, bills, payments): not included | included | included Accounting and bookkeeping: - Invoicing and income: included | included | included - Invoice formats: 2 formats | Multiple formats | Multiple formats - Bills and expenses: included | included | included - Online payments: not included | included | included - Checkout pages: payment links and QR codes: not included | not included | included - Proposals with online approval and progressive invoicing: not included | not included | included - Check printing with live preview: not included | included | included - 1099-NEC tracking, Copy B and e-file CSV exports: not included | included | included - Chart of accounts: pre-configured or your own: included | included | included - Journal entries: included | included | included - Inventory management: included | included | included - Asset tracking: included | included | included - Financial reports: included | included | included - Prior-year balance sheets and comparisons: not included | not included | included - Tax software export (TaxAct and Intuit): not included | included | included - Operational and summary reports: not included | included | included - Export report data to Excel: not included | included | included Batch processing automation: - Recurring invoices: not included | included | included - Deferred income and expenses: not included | included | included - Automatic asset depreciation: not included | included | included - Payment email reminders: not included | included | included - App integrations: not included | not included | Up to 2 apps Access and permissions: - Users: 1 user | Up to 3 users | Up to 10 users - Approval workflow: included | included | included - Locations: Single location | Single location | Multiple locations - Special categories: not included | not included | included - Add and switch between companies: not included | not included | included - Bookkeeper login: included | included | included Support and learning: - Email support: included | included | included - fiscal50 Academy: lessons, guides and quizzes: included | included | included Bookkeepers and accounting firms use the fiscal50 Bookkeeper Workspace (register free: https://bookkeepers.fiscal50.com/register/?plan=connect). Plans: Connect (free, 1 seat (the owner)), Practice ($15.50/month, or $13.95/month billed yearly, $167.40 a year, 10% less, up to 4 seats (owner + 3)), Firm ($49.50/month, or $44.55/month billed yearly, $534.60 a year, 10% less, up to 11 seats (owner + 10, contact us for more)). Client fiscal50 licences at partner prices: retail less 15% to 30% depending on licences held. Partner program: 20% revenue share for 12 months per referred or client-paid company, 25% for Gold partners with 10+ active clients, paid through Stripe Connect. ## Bookkeeping and banking ### Banks to Books (https://www.fiscal50.com/automated-bookkeeping/) Banks to Books is the fiscal50 workflow that records your bank and credit card transactions in your books. You connect accounts through Plaid (or add them manually and upload transaction files), and each transaction waits as Pending on the Deposits or Withdrawals tab with an AI recommendation already selected, such as an Income Entry, an Expense Entry or a payment against an existing invoice or bill. You confirm or change the recommendation, open its explanation to see why the AI chose it, and post one transaction, a page, or a queued batch. Anything posted can be corrected later from the Recorded to fiscal50 tab, one transaction at a time or in bulk with Editable Mode. - Connect accounts with Plaid or by file: Sync Bank / Credit Card links bank and credit card accounts through Plaid, and fiscal50 creates a Chart of Accounts entry for each one. Accounts that aren't on Plaid can be added manually and fed with a Web Connect file, the bank's Excel export, a QuickBooks IIF export or the fiscal50 CSV. - AI recommendation on every transaction: For every deposit and withdrawal, the AI suggests the customer or vendor, the income service or expense category, the matching invoice or bill, and the account. Entry suggestions come from how you recorded similar transactions before; invoice, bill and check matches compare the transaction's date, description and amount. - See why the AI chose it: Every recommendation comes with its explanation: the reason, a confidence score and the evidence behind it, such as 8 prior transactions. Check it before you override a suggestion. - Learns from your corrections: Every recording and every changed recommendation is a signal the engine learns from in the background. Click Refresh to re-run the AI so a correction on one transaction reaches similar pending transactions. - Bulk work: multiple-apply, splits and batch posting: The multiple-apply button sets one transaction type and category or account on all selected rows. A single transaction can be split across several accounts or categories, and you can post one row, the whole page, or queue the selection for the next batch. - Credit cards work the same way: A credit card is another account on the Banks tab, with Expenses and Refund/Other Deposits tabs. Card payments made from your bank are detected and marked Auto Record, so they aren't recorded twice. - Fix posted transactions in bulk: On the Recorded to fiscal50 tab, Editable Mode lets you filter, assign a new category or account to many transactions, and click Update Bookkeeping. Edit Transaction changes one item's entry type, category, account, split lines, location, special category or date. - Two kinds of delete: Delete Transaction removes the entry from your books and returns the transaction to Pending so you can record it again. Delete From Bank Feed removes a duplicate or test entry from fiscal50 completely. How it works in fiscal50: 1. Connect or add accounts: Click Sync Bank / Credit Card to link an account through Plaid, or use the down arrow and choose Add Bank Account, then Upload Bank Transactions. fiscal50 creates the Chart of Accounts entries. 2. Pick the month: On the Banks tab, choose All Months or a specific month in the Pending Transactions dropdown, or click the calendar button for a month summary. Transactions arrive as Pending deposits and withdrawals. 3. Review and categorize: On the Deposits and Withdrawals tabs, check the option pre-selected under Add Transaction As and the details under Add Transaction Details. Check the explanation when unsure, change the row if needed, then click Refresh. 4. Post: Click the green Post button on a row, post all selected transactions on the page with the top-right Post button, or choose Queue for next batch. Posted transactions move to Recorded to fiscal50. 5. Correct if needed: On the Recorded to fiscal50 tab, use Editable Mode or Edit Transaction to modify, Delete Transaction to send an item back to Pending, or Delete From Bank Feed to remove it. In the books: Nothing posts until you click Post. Then each transaction becomes a balanced entry against the bank or card account. Statuses: Pending; Auto Record. Rules and limits: - Plaid-linked accounts fetch transactions automatically at regular intervals; manually added accounts get transactions only when you upload a file. - New transactions sync from the point you link an account with Plaid; earlier periods are brought in with Upload Bank Transactions. Uploading a period the sync already covers creates duplicates. - Upload Bank Transactions accepts four formats: the bank's Web Connect file, the bank's Excel export, a QuickBooks IIF transactions export, and the fiscal50-format CSV. A PDF statement is not accepted. - Recommendations are pre-selected but never posted for you; nothing reaches your books until you click Post, post the page or queue a batch. - Manually Logged is never recommended by the AI; you choose it when a transaction was already recorded elsewhere in fiscal50. - Reconcile Check / ACH is used only when the payment was first recorded in fiscal50 as an outstanding item (for withdrawals, a check written through fiscal50 check printing); otherwise use Other Deposits or Other Withdrawals. - Split amounts must total the bank transaction. - Refresh only changes suggestions on pending transactions; it never changes posted transactions. - Only Income Entry, Expense Entry, Other Deposits and Other Withdrawals can be modified after posting. Payment for an Already Created Invoice, Payment for an Already Created Bill and Reconciled Check / ACH payments must be deleted (back to Pending) and recorded again. - Editable Mode changes only the category or account; Assign fills the New Category column and the books change only when you click Apply or Update Bookkeeping. - Delete From Bank Feed is permanent inside fiscal50: the transaction never returns to Pending and can't be recorded again. Q: How do I categorize my bank transactions? A: Click Banks, pick a month (or All Months) in the Pending Transactions dropdown and open the Deposits and Withdrawals tabs. On each row, check the AI-recommended option in Add Transaction As and the details in Add Transaction Details, adjust if needed, then click the green Post. Fix anything posted later from the Recorded to fiscal50 tab. Q: Is the AI recommendation posted automatically? A: No. Recommendations are pre-selected on each row, but nothing is recorded until you click Post, post the page, or queue a batch. Q: Can I change the recommended option? A: Yes. Pick any option in Add Transaction As; the AI learns from your choice. Click Refresh so similar pending transactions pick up the correction. Q: How far back will my bank transactions sync? A: New transactions sync from the point you link the account with Plaid. Bring earlier periods in with Upload Bank Transactions (Web Connect, the bank's Excel export, QuickBooks IIF or the fiscal50 CSV), and avoid overlapping periods so you don't get duplicates. Q: What is the difference between Delete Transaction and Delete From Bank Feed? A: Delete Transaction removes the recording and returns the transaction to Pending so it can be recorded again. Delete From Bank Feed removes it from fiscal50 completely; it never reappears as Pending and can't be recorded again. Q: Do credit cards work like bank accounts in Banks to Books? A: Yes. A credit card is another account on the Banks tab with the same transaction list, AI recommendations, options, splits, posting and corrections. Only the tab names differ (Expenses and Refund/Other Deposits), and card payments from your bank are marked Auto Record. ### Bank reconciliation (https://www.fiscal50.com/automated-bank-reconciliation/) fiscal50 reconciles your bank, credit card and loan accounts for you. Auto-reconciliation predicts each period’s ending balance from your books and the bank feed and checks it against the bank: the balance verdict. When they agree, fiscal50’s AI agents clear the matching transactions, reconcile the period and move straight on to the next one, month after month, until every account is up to date or something needs you, such as an ending balance that doesn’t agree or a transaction that isn’t recorded yet. They stop on that period and tell you exactly why. You can also reconcile any period yourself: enter the statement balance, review what cleared, and complete it when the Difference is 0. - Auto-reconciliation: AI agents reconcile each account period by period without you starting every month, and keep going until every account is current or one needs your attention. - Balance verdict first: Before a period is reconciled, fiscal50 predicts its ending balance from your books and checks it against the bank, so nothing is marked reconciled unless the numbers agree. - Stops with a reason: When it can’t go on, such as a charge that isn’t recorded or a balance that differs, it stops on that period and shows why. Fix it and auto-reconciliation picks up from there. - Automatic clearing: When reconciliation starts, fiscal50 runs an algorithm on each transaction and clears the ones that are correctly recorded and matched on amount, date and account. You only review the exceptions: Pending items to record and Uncleared items to investigate. - Bank, credit card and liability accounts: Bank accounts reconcile by calendar month, credit cards by statement period generated from the card's closing day, and loans or lines of credit by the lender's period. Loans connected through Plaid appear on the Banks tab automatically; others are added with Add Liability Account. - Clear status on every transaction: Each transaction in the period is marked Cleared, Uncleared or Pending, so you can see what is matched, what hasn't reached the bank yet, and what still needs recording. - Locked chain of balances: Periods reconcile in sequence, and each opening balance is locked by the previous completed period. Completing a period marks it Reconciled, unlocks the next one and carries the ending balance forward. - Details and Summary reports: Completed periods get a Details Report (beginning, clearing, uncleared and ending balances plus every cleared and uncleared deposit and withdrawal) and a Summary. Both export to Excel. Reconcile a period yourself: 1. Open Reconciliation: Go to the Banks tab, click the three-dot menu next to the bank, credit card or liability account and select Reconciliation. A summary screen lists each period with its status. 2. Enter the ending balance: Select the month or statement period, type the ending balance from the statement, and click Start Reconciliation (Resume Reconciliation on later visits). Changes save automatically. 3. Work the exceptions: fiscal50 auto-clears matched transactions. Record Pending items from the Deposits or Withdrawals screen, and tick Select for clearing for Uncleared items that are on the statement. 4. Complete the period: When the Difference is 0, Complete Reconciliation becomes active. Click it to mark the period Reconciled and unlock the next one. 5. Open the reports: On the summary screen, click the icon under Details Report or Summary for a completed period, and use the Excel button at the top right to export it. In the books: Reconciliation posts nothing by itself. Clearing only marks transactions as matched; a Pending item posts when you record it from Deposits or Withdrawals. Statuses: Not started; In progress; Completed; Cleared; Uncleared; Pending. Rules and limits: - Periods reconcile in sequence: the previous month, statement or period must be Completed first. - The first month of a financial year needs the previous year's reconciliation completed. - Bank Opening Balance is locked by the previous completed period; a wrong opening balance can only be fixed in the one-time first-time setup (No → correct balance → Save → upload previous uncleared transactions). - Auto-clearing needs amount, date and account to match; anything else stays Uncleared until it is fixed or ticked in Select for clearing. - Pending transactions (in the feed but not recorded in fiscal50) must be recorded from Deposits or Withdrawals before they can clear. - Complete Reconciliation is active only when the Difference is 0. - The credit card closing day is set once per card; individual statement dates can still be edited. - For a loan, only the principal portion of a payment reduces the liability and clears against the lender's statement. - Details Report and Summary icons appear only for completed periods. - Reconciliation posts nothing by itself: clearing only marks transactions as matched, and recording Pending items posts them through Deposits or Withdrawals. Q: What does auto-reconciliation do? A: For each account, fiscal50 predicts the period’s ending balance from your books and checks it against the bank. When they agree, its AI agents clear the matching transactions, reconcile the period and move on to the next, month after month, until the account is up to date or something needs you. Q: Why did auto-reconciliation stop? A: It stops on the first period where the books and the bank don’t agree yet, for example an ending balance that differs or a bank transaction that isn’t recorded in fiscal50. It shows the period and the reason; fix it and it carries on from there. Q: How do I reconcile my bank account? A: Banks tab › the bank's three-dot menu › Reconciliation. Pick the month, enter the ending balance from the bank statement, click Start Reconciliation, record Pending items and tick Uncleared ones on the statement until the Difference is 0, then click Complete Reconciliation. Q: What is automatic transaction clearing? A: When reconciliation starts, fiscal50 runs an algorithm on each transaction and clears the ones that are correctly recorded and matched, so you only review exceptions: Pending items to record and Uncleared items to investigate. Q: Why wasn't a transaction cleared automatically? A: Auto-clearing needs amount, date and account to match. A different date, a rounding difference or a wrong account keeps it Uncleared. Fix the recording, or tick Select for clearing if it is on the statement. Q: Do I have to reconcile months in order? A: Yes. You must complete the previous month before moving to the next, because each month's opening balance is locked by the month before it. The first month of a financial year needs the previous year's reconciliation completed. Q: How do I reconcile a credit card? A: Banks tab › the credit card's three-dot menu › Reconciliation. The first time, select the card's closing day so fiscal50 can generate the statement periods. Then select the statement period, enter the statement ending balance, Start Reconciliation, clear or record until the Difference is 0, and Complete Reconciliation. Q: Does reconciliation post anything to the books? A: No. Clearing only marks transactions as matched. Recording Pending items posts them through Deposits or Withdrawals, and completing a period locks its ending balance. Q: Can a bookkeeper see reconciliation status for every client? A: Yes. In the fiscal50 Bookkeeper Workspace, the reconciliation view shows a month-by-month grid for each client’s banks and cards and flags anything posted or deleted after a reconciliation. Open the client’s books with Log in to finish a period. ### Register (https://www.fiscal50.com/account-register/) The Register shows every transaction in one account, such as a bank account, a credit card or another account in your chart of accounts, in date order with the balance after each one and the account’s ending balance at the top. Pick the account from the dropdown, or open it from the Register link in Chart of Accounts. Each row shows the date, the type with its check or reference number, the name with its account and the memo, and the amount under Deposit (DR) or Payment (CR). Add a transaction straight into the list with Quick entry or open the full form with + Add Entry, search, sort and filter the list, and use the menu on any row to open and edit that transaction. - Any account, one dropdown: Choose the bank, credit card or other account at the top of the page. Its number and name stay in the header next to the ending balance. - A running balance on every row: Each transaction shows the account balance after it, so you can see exactly when the account went up or down. Negative balances show in red brackets. - Deposits and payments side by side: Money in sits under Deposit (DR) and money out under Payment (CR), with the date, type, check or reference number, name, account and memo on the same row. - Quick entry: Click + Quick entry to type a transaction straight into the register: date, type, check number, name, account, memo and amount. Save it and it takes its place in date order. - The full form when you need it: + Add Entry opens the full entry form for a transaction that needs more detail. - Edit from the row: The ⋮ menu on each row opens that transaction so you can change it. The register and its running balance update after you save. - Search, sort and filter: Search any text, sort by date, type, deposit or payment, choose how many rows to show, and use the filter to narrow the list. - Room to work: Full screen gives the register the whole window when you are working through a long month. Add a transaction with Quick entry: 1. Open the Register: Click Register in the top menu, or the Register link next to an account in Chart of Accounts. 2. Pick the account: Choose the bank, credit card or other account in the dropdown at the top. 3. Click + Quick entry: A new row opens at the top of the register. 4. Fill in the row: Enter the date, type, check or reference number, name, account, memo and the deposit or payment amount. 5. Save: The transaction drops into date order and every balance after it is recalculated. Q: What is the Register? A: A list of every transaction in one account in date order, with the balance after each one and the account’s ending balance at the top. It works like a checkbook register for any account. Q: Which accounts have a register? A: Bank accounts, credit cards and the other accounts in your chart of accounts. Pick the account in the dropdown, or use the Register link next to the account in Chart of Accounts. Q: What do Deposit (DR) and Payment (CR) mean? A: Deposit (DR) is a debit to the account, such as money coming into a bank account. Payment (CR) is a credit, such as money going out. The Balance column adds them up row by row. Q: What is the difference between Quick entry and + Add Entry? A: Quick entry adds a transaction in a row right inside the register. + Add Entry opens the full entry form for transactions that need more detail. Q: Can I edit a transaction from the register? A: Yes. Open the ⋮ menu on its row to open the transaction and change it. The running balance updates when you save. Q: How do I find a transaction? A: Type any text into Search, sort a column such as Date or Payment (CR), or use the filter button to narrow the list. ### Journal entries (https://www.fiscal50.com/journal-entries/) Add Journal Entry is where you post anything that isn’t an invoice, bill or payment: accruals, depreciation adjustments, reclassifications, owner contributions and corrections. Each entry has a Document No., Transaction Date and Memo, an optional Payee and Ref/Check No., and as many account lines as you need, each with a debit or a credit. The totals at the bottom show whether debits equal credits before you save, and you can attach the document behind the entry. View Journal Entries lists what you’ve posted so you can open and edit an entry, and entries can also be imported in bulk, including bank journal entries. - The basics, every time: Document No., Transaction Date and Memo are required on every entry, so each one can be found and explained later. - Payee and reference: Name the payee and add a Ref/Check No. when the entry relates to someone you pay or a specific document. - As many lines as you need: Pick an account on each line and enter its debit or credit. The + button adds another line for a split entry. - Find the account fast: The filter button beside each account box narrows the list, so the right account is a few clicks away even in a long chart of accounts. - Totals before you save: Debit and credit totals add up at the bottom of the entry. An entry posts only when the two are equal. - Attach the backup: Click to upload a file attaches the invoice, estimate or schedule behind the entry, so the reason stays with the numbers. - A new account without leaving: + Add Chart of Accounts at the top adds a missing account while you are writing the entry. - View, edit and import: View Journal Entries lists every entry so you can open and edit it. Import Journal Entries and Import Bank Journal Entries bring many in at once. Post a journal entry: 1. Open Add Journal Entry: Go to Journal › Add Journal Entry. The Document No. is filled in for you. 2. Fill in the header: Set the Transaction Date and type a Memo; add a Payee and Ref/Check No. if they apply. 3. Add the lines: Pick an account on each line and enter its debit or credit. Click + for more lines. 4. Check the totals: The Debit and Credit totals at the bottom must match. 5. Attach and save: Attach the supporting document if you have one, then click Save. In the books: A journal entry posts exactly the lines you enter. Here, October’s utilities are accrued before the bill arrives. Q: When should I use a journal entry? A: For anything that isn’t an invoice, bill or payment: accruals, depreciation adjustments, reclassifications between accounts, owner contributions and corrections. Q: Do debits have to equal credits? A: Yes. The totals at the bottom of the entry show both, and an entry posts only when they are equal. Q: Which fields are required? A: Document No., Transaction Date and Memo. Payee and Ref/Check No. are optional. Q: Can I edit a journal entry after saving it? A: Yes. Open it from View Journal Entries, make the change and save. Q: Can I import journal entries? A: Yes. Import Journal Entries brings many entries in at once, and Import Bank Journal Entries brings in bank journal entries. Q: Where do journal entries show up? A: In the general ledger, the Journal report and the register of every account the entry touches, and in your financial statements. ### Fifty, AI accountant (https://www.fiscal50.com/ai-bookkeeping-assistant/) Fifty is the assistant built into fiscal50. Ask it how to do something and it answers from fiscal50's own user guides, with numbered steps, a link to the lesson and a Take me there button that opens the screen. It can also run tasks from the chat, such as creating an invoice, entering a vendor bill or recording a payment, and shows a summary for you to confirm before anything is created. Curated Instant Answers are free and unlimited; AI Assist answers have a monthly allowance that depends on the plan. - Answers from the fiscal50 guides: Instant Answers come from about 6,900 answers prepared from the fiscal50 user guides and lessons. They are free and unlimited. - AI Assist: On plans that include it, AI Assist is the default mode: each question gets an answer written from the fiscal50 guides, marked as an AI answer with the guides it is based on, and counted against a monthly allowance. Switch to Instant for free curated answers. - Take me there: Answers about a screen carry a button that opens that screen in fiscal50, for example "Add customer invoice". Most fiscal50 screens have one. - Tasks from the chat: Fifty can create records for you: create and e-mail an invoice or an invoice reminder, add a customer, vendor, payee, product, service, expense category or chart-of-accounts account, enter a vendor bill, record a customer or vendor payment, write a check, create a checkout page or a proposal, upload a bill or receipt, add a journal entry, send a vendor bill payment reminder, and record an asset sale, write-off or depreciation. - Confirm before anything is saved: Fifty asks for what it needs one question at a time, then shows a summary. Nothing is created until you confirm it. - Reports and answers about your books: Ask for figures such as profit for a period, revenue, expenses, receivables, payables, bank balance, a balance sheet, a trial balance or an income statement, and Fifty reads them from your books. - Lessons in the same place: Answers about a screen link to its Academy lesson and user guide, so you can learn the screen properly when you need to. In the books: Fifty posts nothing on its own. A task saves the record through the normal fiscal50 screen, after you confirm, so the entry is that screen’s own. Rules and limits: - Instant Answers are free and unlimited on every plan. - AI Assist questions per monthly period: Starter 25, Business 50, Business Pro 100, bookkeeper and multi-company accounts 100, trial accounts 20. The period starts on the day the account was created and rolls month to month. - When the AI Assist allowance is used up, Fifty switches to Instant Answers for the rest of the period. - Tasks from the chat are available on Business, Business Pro and bookkeeper accounts, with no monthly cap on completed tasks. They are not available on Starter or multi-company accounts. - Every task that creates something shows a summary and waits for you to confirm it. - Fifty never posts or approves anything from the Bookkeeper Workspace; there it only reads and suggests. Q: What is the difference between Instant Answers and AI Assist? A: Instant Answers are prepared answers taken from the fiscal50 guides; they are free and unlimited. AI Assist, the default on plans that include it, writes each answer from the guides, shows the guides it used and counts against your plan's monthly allowance. You can switch between the two in the chat. Q: How many AI Assist questions do I get? A: Per monthly period: 25 on Starter, 50 on Business and 100 on Business Pro (bookkeepers 100). When they run out, Fifty switches to Instant Answers until the period resets. Q: Can Fifty change my books without asking? A: No. For every task, Fifty collects the details, shows a summary and waits for you to confirm before anything is created. Q: What does Take me there do? A: It opens the fiscal50 screen the answer is about, so you can do the task straight away. Q: Which tasks can Fifty do? A: Create and e-mail invoices and invoice reminders, add customers, vendors, payees, products, services, expense categories and chart-of-accounts accounts, enter bills, record payments in and out, send vendor bill payment reminders, write checks, create checkout pages and proposals, upload bills and receipts, add journal entries, and record asset sales, write-offs and depreciation. It can also answer questions about your figures and run reports. ### Integrations (https://www.fiscal50.com/integrations/) fiscal50 connects to the services your money already runs through. Link bank, credit card and loan accounts through Plaid and their transactions sync into Banks to Books. Connect Stripe to take card and bank payments on invoices and checkout pages, and to record every Stripe payment, fee and payout in your books automatically. Bring payroll in from Gusto’s CSV report, move from QuickBooks Online or Desktop by uploading its exports as they are, including customers, vendors, items and the chart of accounts, and upload Web Connect, Excel or IIF bank files for any bank. - Stripe syncs and posts automatically: Once Stripe is connected and your recording preferences are set, fiscal50 syncs your Stripe transactions and posts them to your books; there is nothing to import by hand. Transactions that can't post automatically wait as pending and are recorded from a monthly summary. - You choose the Stripe accounts: Recording Preferences maps Stripe Balance to an asset account, Stripe Fees to an expense account and Stripe Income to an income account. You can change them at any time; new choices apply to transactions posted from then on. - Secure Stripe sign-in: You sign in on Stripe's own window at connect.stripe.com, so fiscal50 never sees your Stripe password. - Gusto payroll from one CSV: Upload Gusto's Full Summary Report with Import Payroll. fiscal50 lists each employee's wages, taxes, net pay, deductions and reimbursements and builds the payroll journal entry for you. - Preview before you post: Record opens a Journal Entry preview showing every account and amount; nothing reaches your books until you click Verify & Post. - Payroll clears without double-counting: When net pay and tax payments leave your bank, fiscal50 recognizes payroll payments and recommends the clearing or liability account, so the withdrawal is never recorded as a second expense. - Bank and credit card feeds through Plaid: Sync Bank / Credit Card links accounts through Plaid, and fiscal50 creates a Chart of Accounts entry for each. Transactions are fetched automatically at regular intervals. - File upload when there's no live connection: Manually added accounts accept the bank's Web Connect file, the bank's Excel export, a QuickBooks IIF transactions export, or the fiscal50 CSV format. How it works in fiscal50: 1. Open App Integrations: Click Apps in the main menu. If you already have apps connected, click Add External Apps to see the Stripe card. 2. Connect Stripe: Click + Add on the Stripe card, enter your Stripe account's email address, click Continue, then sign in and authorize the connection in Stripe's window. 3. Set recording preferences: In the Stripe row, click Recording Preferences, choose the asset, expense and income accounts for Stripe Balance, Stripe Fees and Stripe Income, and click Apply. 4. Let transactions sync: fiscal50 syncs and posts Stripe transactions automatically. When Total Transactions and Transactions Recorded match, everything is posted. 5. Record anything pending: Click Pending Transactions in the Stripe row and use the Record pending Transactions icon for any month with pending transactions. In the books: Stripe activity posts to the accounts you choose in its recording preferences. Gusto payroll posts when you review and post the preview. Statuses: Active. Rules and limits: - Stripe sign-in happens on connect.stripe.com; allow pop-up windows for fiscal50 if the window doesn't open. - Stripe requires the business owner or someone with significant management responsibility to complete its setup. - Stripe recording preferences apply to transactions posted from the time you set or change them, so set them straight after connecting. - Stripe transactions can't be edited from the list; delete only tests or duplicates. Deleting removes the journal entry but doesn't touch Stripe. - A Stripe payout arriving in the bank is recorded against Stripe Balance, not as income. - Gusto payroll is imported from Gusto's Full Summary Report in CSV format. Saving it parks it in Pending Payrolls; Record, then Verify & Post, puts it in your books. - Remove Payroll is for an uploaded payroll that hasn't been recorded; Delete Payroll deletes a recorded payroll and its journal entry. - Payroll bank withdrawals are recorded as Other Withdrawals against the clearing or liability account, never as an expense. - Plaid-linked accounts fetch transactions automatically at regular intervals, starting from the point you link; earlier periods are uploaded from files. - Bank transaction upload accepts four formats: Web Connect, the bank's Excel export, QuickBooks IIF and the fiscal50 CSV. Q: Do I need to import Stripe transactions? A: No. Once Stripe is connected and your recording preferences are set, fiscal50 syncs and posts your Stripe transactions automatically. Q: Does fiscal50 see my Stripe password? A: No. You sign in on Stripe's own window at connect.stripe.com and authorize the connection; fiscal50 never receives the password. Q: How do I record a Stripe payout to my bank? A: When the payout appears in Banks › Deposits, record it against the Stripe Balance account. The income was already recorded when the payment synced. Q: Which Gusto report should I upload? A: The Full Summary Report for the payroll, in CSV format. Upload it with Import Payroll in the Gusto CSV row on the App Integrations screen. Q: Why shouldn't I record payroll withdrawals as expenses? A: The expense was already recorded when you posted the payroll entry. Recording the withdrawal against the clearing or liability account avoids counting it twice. Q: My bank isn't in the Plaid list. What can I do? A: Add the account manually (the down arrow next to Sync Bank / Credit Card › Add Bank Account) and bring transactions in with Upload Bank Transactions. You can try Link with Plaid later. ## Sales and getting paid ### Invoicing (https://www.fiscal50.com/invoicing-software/) fiscal50 invoices are built in a live template editor: choose the customer, add product or service lines, and the sales tax fills in from your Sales Tax Setup for that item in the customer's state. An invoice can be Normal, Recurring (generated on a schedule, with optional approval) or Deferred Income (revenue spread over 1 to 60 accounting months), and a Normal invoice can be a retainer billed in advance. When you save, fiscal50 debits Accounts Receivable and credits revenue and sales tax payable, and it can email the customer a Pay Invoice Now button and a no-login invoice page. Payments are recorded against one or several invoices, with partial payments, overpayments kept as customer credit, discounts and tax withheld. - Live invoice templates: Choose Classic Emerald, Indigo Night, Golden Ledger or Pearl Minimal; Golden Ledger and Pearl Minimal each offer four colors. The template and color are saved with the invoice and used in the editor, email, hosted page, PDF and previews. - Automatic sales tax: When you pick an item or change the customer, fiscal50 looks up your Sales Tax Setup for that product in the customer's state and fills in the Tax % on the line. You can override it on any line. - Recurring invoices with optional approval: A Recurring invoice generates invoices on a Daily, Weekly, Monthly or Yearly schedule, up to 500 invoices. With Approval Required, each generated invoice waits for your review in Alerts and transactions. - Deferred income: A Deferred Income invoice posts now and spreads the income evenly across 1 to 60 accounting months, recognized at the start, mid or end of each month. - Retainer invoices: Switch on Retainer invoice to bill a client in advance. The invoice gets one locked line with your Retainer service and posts to your retainer liability account instead of income. - Pay Invoice Now and a hosted invoice page: Once Online Payments Setup is complete (Stripe status Active and the Stripe accounts mapped), Send payment link adds a Pay Invoice Now button to the email (card or US bank account). View Invoice opens a no-login page that shows the latest version and paid status, and marks the invoice Viewed. - Flexible customer payments: Record one payment against several invoices as one deposit, take partial payments, keep overpayments as customer credit, and apply discounts or tax withheld. - Every invoice in one list: View All Invoices filters by status and date, searches with an exact-match option, exports to Excel, and offers edit, delete, receive payment, reminders, PDF download, replicate, refunds, returns and attachments per row. How it works in fiscal50: 1. Open Create Invoice and pick a template: Click Sales, then Invoices, then Create Invoice. Hover a thumbnail in the template gallery to preview it, then click it (or Use this template) to open the editor in that design. 2. Choose the invoice type: Normal is a one-time invoice. Recurring generates invoices on a schedule, and Deferred Income spreads the income over the accounting months you choose. Recurring and Deferred Income accept services only. 3. Choose the customer, dates and number: Under Bill To choose the customer; their billing address, email and saved terms fill in. The invoice date defaults to today, the terms calculate the due date, and the suggested invoice number can be changed if it stays unique. 4. Add line items: Click + Add Line and pick an item from your catalog, grouped by category and tagged Product or Service. Rate, description and quantity prefill, and the Tax % fills in from Sales Tax Setup for the customer's state. 5. Choose delivery, preview and save: Turn on Email this invoice on save and, once Online Payments Setup is complete, Send payment link. Check the Invoice, Email and PDF previews, then Save, Save & Receive Payment or Save & New. In the books: Saving an invoice books the receivable. Cash moves only when the payment is recorded. Statuses: Invoice status (View All Invoices): Pending; Invoice status (View All Invoices): Paid; Invoice status (View All Invoices): Partially Paid; Invoice status (View All Invoices): Deleted; Invoice status (View All Invoices): Incomplete; Invoice status (View All Invoices): Refunded; Invoice status filter (View All Invoices): Overdue; Due Date marker (View All Invoices): Overdue; Due Date marker (View All Invoices): Due today; Customer opened the hosted invoice page: Viewed; Income status: Pending; Income status: Paid; Income status: Partially Paid; Income status: Pending Clearance; Scheduled invoice status: Active; Scheduled invoice status: Pending; Scheduled invoice status: Deleted; Payment status: Active; Payment status: Pending Clearance; Payment status: Incomplete; Payment status: Deleted; Payment status: Refunded. Rules and limits: - Rate: $0.00 to $999,999,999.99. Shipping, line amount and invoice total: up to $999,999,999.99. - Qty / Hrs: whole numbers, 1 to 100,000 (flat-rate services fixed at 1). Tax %: 0 to 100. - Lines per invoice: up to 100. Line description: up to 1,000 characters. Memo and addresses: 500 characters each. Terms & conditions: 2,000 characters. - Invoice number: 1 to 20 characters (letters, digits, - _ /), unique. - Invoice date: 01/01/2000 to one year from today. Due date: on or after the invoice date, within 2 years of it. - Recurring: start date tomorrow or later; a schedule generates at most 500 invoices; services only. A schedule can be deleted only while Occurrences Completed is 0, and edits apply only to invoices created from then on. - Deferred Income: 1 to 60 accounting months, limited by your open periods; services only. Completed realization months cannot be canceled or deleted. - Retainer invoices: Normal invoices only, exactly one line locked to your single active Retainer service. - Email recipients: up to 5 addresses per field (To / Cc / Bcc). Send payment link is available once Online Payments Setup is complete: Stripe status Active and the Stripe Balance and Stripe Fees accounts mapped. - Saved invoices never re-fetch tax rates until you change the customer or an item. No state on the customer, or no active rate, means 0% tax. - Only active and pending invoices can be edited or deleted; deleted invoices are marked Deleted and may be recovered. Paid invoices can't be edited or deleted — use Refund. Refund is for paid and partially paid invoices; Regular and Damaged Return for item invoices only. - Payments can only be recorded for active invoices. A payment's Customer and Bank can't be changed after saving; deleting a payment makes its invoices unpaid again. Q: How do I record deferred revenue on an invoice? A: Use the Deferred Income invoice type on Create Invoice. The invoice posts normally and the income is spread evenly across the accounting months you choose — 1 to 60, limited by your open periods — recognized at the start, mid or end of each month. Deferred Income invoices accept services only. Q: What do the invoice statuses mean? A: Pending: created, awaiting payment. Overdue: past the due date. Paid: fully paid. Partially Paid: some payment recorded, balance due. Deleted: nullified (recoverable). Incomplete: not finished yet. Refunded: a paid or partially paid invoice that was refunded. Q: Can I record a payment from the invoice itself? A: Yes. Click Receive Payment in the invoice's row, or choose Save & Receive Payment when creating the invoice. Q: Why don't I see the Send payment link toggle? A: Online Payments Setup isn't complete yet: Stripe must show Active and its accounts must be mapped under Sales › Invoices › Online Payments Setup. Q: Can a retainer invoice be recurring? A: No. Retainers are Normal invoices only. For a repeat retainer, use Replicate in the invoice's Action menu on View All Invoices and update the dates. Q: What happens if a customer pays too much? A: The extra amount appears in Credits/Over Payment and stays on the customer's account as a credit for future invoices. ### Proposals (https://www.fiscal50.com/proposal-software/) A fiscal50 proposal lists the products and services you plan to deliver, with prices, tax, shipping and a total, and your customer approves or declines it online. The customer opens it from an email, confirms their identity with a verification code, and needs no fiscal50 login. Once a proposal is approved, you create one-time, progressive or recurring invoices straight from it, and fiscal50 tracks how much has been invoiced and how much is still pending. A proposal is a quote, so nothing posts to your books until you create invoices from it. - Online approval, no customer login: fiscal50 emails the customer a secure review link. They enter a verification code sent to their email, review the proposal and attachments, then approve or decline it. They never need a fiscal50 account. - One-time or recurring proposals: One-time proposals cover a single engagement or purchase and can include products and services. Recurring proposals cover an ongoing service billed on a schedule and include services only. - Optional customer edits: Switch on Customer can edit when approving to let the customer change product quantities, change hours on hourly services and remove lines. They can never change rates or tax percentages. - Attachments and comments: Attach engagement letters, scopes of work or other files the customer can open while reviewing, and add comments that appear on the proposal page. - Responses in the Alerts and transactions bell: Approvals and declines, with the customer's comments, appear in the Alerts and transactions bell and in the Needs your attention card on your dashboard. Clicking one opens the Proposals list at that proposal. - Progressive invoicing: Bill a one-time proposal in several installments. You choose which lines, and how much of each, go on every invoice, and fiscal50 tracks what is pending. - Invoices that match what was approved: Create Invoice opens the normal invoice screen pre-filled from the proposal. The customer and each line's item, rate, quantity or hours and tax are locked; only descriptions can change. - Proposal Invoices tracking: One list shows every invoice created from proposals, with Installment N of M, Pending on proposal and Shipping incl. How it works in fiscal50: 1. Open Create Proposal and pick the customer: Go to Sales → Proposals and click + Create Proposal. Choose the Customer and check the email shown underneath, because the review link and verification code go there. 2. Choose the proposal type: Choose One-time for a single engagement or purchase (products and services), or Recurring for an ongoing service (services only). Switching to Recurring removes product lines. 3. Add the lines: Click + Add line for each item and pick it in Product / service. Products are quantity × rate, flat-rate services are the rate (quantity stays 1), and hourly services are hours × rate. Set tax % per line and add a description. 4. Set edits, attachments, comments and shipping: Decide whether the customer can edit when approving, attach any documents, write comments for the customer and enter any shipping charge. fiscal50 calculates the Subtotal, Sales tax and TOTAL as you type. 5. Save & Send for Approval: Save keeps the proposal without emailing it. Save & Send for Approval saves it and emails the customer a secure review link. In the books: A proposal is a quote, so nothing posts until you create invoices from it. Each invoice then posts like any other. Statuses: Sent; Approved; Declined. Rules and limits: - A customer and the customer's email are required to send; every proposal needs at least one line. - Recurring proposals can include services only; switching to Recurring removes product lines. - The review link expires 7 days after it is sent; re-send the proposal to issue a new link. - Customers must enter a verification code before seeing the proposal. - A comment is required to decline and optional to approve. - Each proposal gets one decision; re-send it to ask again. - With customer edits on, the customer can change product quantities and hourly-service hours and remove lines; rates and tax are always read-only. - Only approved proposals can be invoiced; Create Invoice is active only then. - One-time proposals give one-time or progressive invoices; recurring proposals give recurring invoices only, starting tomorrow or later. - Invoice lines from a proposal are locked except their descriptions, the customer is locked, and tax comes from the proposal rather than automatic state sales tax. - Each line is capped at what is pending, the total invoiced can never exceed the proposal total, and shipping is billed exactly once. - A proposal does not post to the books; nothing posts until you create invoices from it. Q: Does my customer need a fiscal50 account to approve a proposal? A: No. They open the proposal from the email link and confirm with a verification code. Q: What is the verification code? A: A one-time code fiscal50 emails to the customer's address, which they must enter before seeing the proposal. The address is partly hidden on screen, and Resend code sends a fresh one. Q: Can my customer change my prices? A: No. Rates and tax percentages are always read-only for the customer. If you allow edits, they can only change product quantities, change hours on hourly services and remove lines. Q: What is progressive invoicing? A: Billing a one-time proposal in several invoices. You choose which lines and how much of each go on each invoice, and fiscal50 tracks what is pending. Q: Can I invoice more than the proposal total? A: No. Each line is capped at what is pending, and the total invoiced can never exceed the proposal total. Q: Does a proposal affect my books? A: No. A proposal is a quote; nothing posts until you create invoices from it. ### Checkout and online payments (https://www.fiscal50.com/online-payments-and-checkout/) fiscal50 takes online payments through Stripe: in Online Payments Setup you connect Stripe, wait for Stripe to verify your account (Pending, then Active), and map a Stripe Balance asset account and a Stripe Fees expense account. Once that is done, invoices can carry a Pay Invoice Now button and you can create checkouts — payment pages you share as a link or QR code, or open on your own screen to take payment in person. The customer pays by card or US bank account without a fiscal50 login and gets a printable receipt. fiscal50 then records the payment, creates a paid invoice with the same items and posts it to the account mapped to Stripe, so there is no invoice to prepare and no payment to record by hand. - Shareable payment pages: Share a checkout as a payment link by email, text or chat, let the customer scan its QR code, or click Take Payment Now to take the payment on your own screen in person. - Paid invoice and posting done for you: When a payment succeeds, fiscal50 records it against the checkout, creates a paid invoice with the same items, amounts and tax, and posts it to the account mapped to your Stripe account. - Products, flat-rate and hourly services: Add as many items as you need: products are quantity × rate, flat services are one fixed fee, and hourly services are hours × rate. - Recurring checkouts: Switch on Charge on a schedule and choose Weekly, Monthly or Yearly. The customer pays the first charge on the page, then the card is charged automatically, and each renewal gets its own paid invoice. - Payment page options: Require a phone number or billing address, and optionally let the customer change quantities or hours. Rates and tax can never be changed by the customer. - Guided Stripe setup: A red, amber or green banner on Online Payments Setup tells you the next step, and fiscal50 checks with Stripe automatically until your account moves from Pending to Active. - Stripe payouts for bank reconciliation: View Payouts lists each transfer Stripe sent to your bank with its date, amount and statement descriptor, so you can match Stripe deposits when reconciling. - One list for every checkout: Sales › Checkouts shows Collected, Payments, Online and Paid cards, status and date filters, search, and Actions to share, edit, turn offline or online, and delete. How it works in fiscal50: 1. Connect Stripe: Go to Sales → Invoices → Online Payments Setup and click Connect. Complete Stripe's form (business details and tax ID, owner or representative, payout bank account) and submit. The status shows Pending until Stripe verifies the account, then Active. 2. Map your Stripe accounts: Once the status is Active, click COA Mapping, choose an asset account for Stripe Balance and an expense account for Stripe Fees, and click Apply. The banner turns green: "You're all set!" 3. Create a checkout: Go to Sales → Create Checkout. Enter a Checkout title, choose a customer or leave it blank for a walk-in, and add items with + Add item, checking Qty/Hrs, Rate and Tax %. 4. Set options and save: Set the payment page options, switch on Recurring if needed, write a Success message, and click Save & Share. 5. Share and get paid: In the Share window copy the payment link, show the QR code, or click Take Payment Now. After payment, fiscal50 records it and creates the paid invoice. In the books: When a customer pays, fiscal50 creates the paid invoice and records the payment to the Stripe Balance account you mapped. Statuses: Online Payments Setup status: Pending; Online Payments Setup status: Active; Online Payments Setup banner (green): You're all set!; Checkout status: Online; Checkout status: Offline; Checkout status: Paid; Customer receipt label: PAID. Rules and limits: - Checkouts and Send payment link need Stripe status Active and accounts mapped in Online Payments Setup; checkouts also need products and services set up. - Status is Pending from Connect until Stripe verifies the account; fiscal50 checks with Stripe automatically — no refresh or support needed. - COA mapping is available only once the status is Active; Stripe Balance takes an asset account and Stripe Fees an expense account, and the list shows only accounts of the right type. - Maximum single payment: $999,999.99 (Stripe's limit). - Product quantity on the payment page: whole numbers from 1 to 999. Hours: 0.25 to 999, up to two decimal places. - Item description: up to 500 characters. - Payment methods: card or US bank account; recurring checkouts are card only, because bank-account payments cannot be charged automatically. - One-time checkouts can be paid once, then are marked Paid; Turn Online reopens them. - Rates and tax are set by you; customers can never change them. - The link and QR code always open the latest version of the checkout; editing and saving puts a checkout back online. - Deleting a checkout removes it from the list; payments already received and their invoices stay in your books. - A payout is usually less than customers paid (Stripe deducts its fees) and may combine several payments, e.g. $100 paid − $3.20 fees = $96.80. Q: Does my customer need a fiscal50 account to pay a checkout? A: No. They open the link, pay securely and get a receipt without logging in. Q: How can my customer pay? A: By card or US bank account. Recurring checkouts accept cards only. Q: Do I need to create an invoice or record the payment after a customer pays? A: No. fiscal50 creates a paid invoice automatically with the same items and amounts, and posts the payment to the account mapped to your Stripe account. Q: Why is my Online Payments Setup status Pending? A: Either your Stripe setup is not finished, or Stripe is still verifying your account. After you submit Stripe's form, fiscal50 checks with Stripe automatically and changes the status to Active once Stripe verifies it. Q: Why is my Stripe payout less than what my customers paid? A: Stripe deducts its processing fees before sending the payout, and it may group several payments into one transfer to your bank. Q: Can a checkout link be paid more than once? A: A one-time checkout can be paid once; it is then marked Paid and the page shows it is already paid. Turn Online reopens it. A recurring checkout charges the customer's card automatically weekly, monthly or yearly. ### Customer management (https://www.fiscal50.com/customer-management-software/) fiscal50 keeps your customers in one Customers list with each one’s credits, current balance and status. Icons on every row open that customer’s dashboard, ledger and timeline, and the Action menu creates an invoice, receives a payment or sends an invoice reminder e-mail. The Customer Dashboard shows monthly and annual revenue, pending invoices, total credits and the amount due, with monthly sales and the items bought. Money a customer pays before you invoice them is kept as credit and applied to their next invoice or payment. Add customers one at a time with a quick or detailed form, or import many at once. - One list with credits and balances: One row per customer with DOJ, Credits, Current Balance and Status. Sort by Current Balance to see who owes you the most. - A dashboard for every customer: Monthly Revenue, Annual Revenue, Pending Invoices, Total Credits and Total Amount Due, monthly sales for the year and the items they buy, with All Income and Invoices tabs. - Timeline and ledger: The Timeline shows invoices, advances and payments in date order from the day the customer was created. The Ledger lists every transaction with the running balance. - Everyday actions from the row: The Action menu creates an invoice, receives a payment, opens Advance Transactions or sends an invoice reminder e-mail without leaving the list. - Advances become credit: Record money paid before you invoice with Receive Advance. It shows in the customer’s Credits and can be applied on their next invoice, up to the credit available, or on their next payment. - Quick or detailed add, plus import: Add a customer in seconds with the quick form or capture contact details, addresses and terms with the detailed form. Import Customers brings in many at once. - Sales tax from the customer’s state: The customer’s State fills in sales tax on their invoices automatically when you have a sales-tax rule for that state. - Receivables in one place: The Receivables Dashboard, A/R Aging, Sales by Customer and the Customer Statement show what is owed, how old it is and who your best customers are. Add a customer: 1. Open Add Customer: Go to Sales › Customers and click + Add Customer for the quick form, or the arrow next to it for the detailed form. 2. Name the customer: Choose Company or Individual, enter the company and contact names, and pick or type the Display name used in lists and on invoices. 3. Set terms and state: Choose Terms (Due on Receipt, Net 15, Net 30 or Net 60) and the customer’s State, so sales tax fills in on their invoices. 4. Add an opening balance: Enter what the customer already owed you when you started with fiscal50; it becomes the opening balance in their ledger. 5. Save and invoice: Click Save. The customer appears in the list, and Create Invoice in the Action menu starts their first invoice. Q: What is the difference between a customer’s Credits and Current Balance? A: Credits is money the customer has available to use, such as advances or overpayments. Current Balance is the amount the customer currently owes you. Q: What does the Customer Dashboard show? A: Monthly Revenue, Annual Revenue, Pending Invoices, Total Credits and Total Amount Due for that customer, a chart of their monthly sales, the items they buy, and All Income and Invoices tabs. Q: How do I record money a customer pays before I invoice them? A: Use Receive Advance on the customer’s row. The amount is kept as credit and can be applied on their next invoice, up to the credit available, or on their next payment. Q: Can I import my customers? A: Yes. Import Customers brings many customers in at once, including a customer list exported from QuickBooks. Q: What happens to an overpayment? A: An amount received beyond the invoices you selected on Receive Payment becomes customer credit, ready to use on a later invoice. Q: Can I send a customer a statement? A: Yes. The Customer Statement report lists a customer’s invoices, payments and balance for the dates you choose, and exports to Excel or PDF. ## Expenses and payables ### Bills and expenses (https://www.fiscal50.com/expense-tracking-software/) fiscal50 tracks expenses from the vendor bill to the payment. You record bills on one Create Vendor Bill screen — regular expense, capital asset, accrued, deferred, recurring or inventory — with each line posted to the expense account its category is mapped to. Bills and receipts can be uploaded from a computer or phone, or e-mailed in; fiscal50 reads the vendor, date, amount and document number and attaches each document to the matching bill, payment or bank feed transaction. You pay one or more of a vendor's bills in a single payment by cash, check, ACH or card, with discounts, tax withheld, partial payments and overpayments handled, and the Payables Dashboard shows what you owe, what is overdue and your days payables outstanding (DPO). - Six kinds of bill on one screen: Regular expense, capital asset, accrued, deferred, recurring and inventory bills are all created on Create Vendor Bill. A bill can be Recurring, Accrued or Deferred, but only one of these at a time. - Accrued and deferred timing: Record an accrued bill as an estimate at month-end and correct the amount when you pay it. A deferred bill holds a prepayment as a prepaid expense and moves an equal share to expense each month. - Recurring bills and schedules: Switch Recurring Bill? to Yes and choose Daily, Weekly, Monthly or Yearly with start and end dates; fiscal50 creates each bill automatically and lists the schedule on Scheduled Bills, where you can view, edit or cancel it. - Bill and receipt capture: Upload PDF, JPG, JPEG, PNG, HEIC or HEIF files (up to 5 MB each), or e-mail them in from your registered address. fiscal50 reads the vendor, date, amount and document number and attaches receipts to payments or bank feed transactions and bills to bill records. - Link what didn't match: For an unmatched document, attach it to an existing payment, or choose Record bill payment & attach receipt to record a payment for a bill from the receipt's details. - Pay several bills in one payment: Tick any number of one vendor's unpaid bills and record one payment by Cash, Check, ACH or Credit/Debit Card, with Discount Applied per bill, Tax Withheld, partial payments and overpayments kept as vendor credit. - Expense categories mapped to accounts: Every sub-category maps to an expense account in your chart of accounts, so each bill or payment line posts to the right account; add categories from the bill with + Add New Expense Category. - Payables Dashboard: Total Vendors Payables, Total Bills, Payment Due and Overdue Payment cards, a monthly DPO chart, Expense and Inventory Payables by vendor, and a Payment Due list with a Payment button on each bill. How it works in fiscal50: 1. Enter the bill header: Go to Expenses › Bills › Create Bill, keep Expenses selected, and fill in Vendor, Number, Issue Date, Terms, Due Date and Memo; set Expense Type or Recurring Bill? if needed. 2. Add the lines: Click Next, then Add Items › Regular Expenses (category, description, amount) or Capital Assets Expenses (category, description, QTY, rate). Attach the vendor's bill with Click to upload a file. 3. Save the bill: Click Save, or use the arrow for Make Payment or Save & New. The bill appears on the Bills screen, ready to pay. 4. Capture the receipt: Upload the receipt on Expenses › Bill & Receipt Uploads or e-mail it in; fiscal50 matches it, or you link it from the Action column. 5. Pay the vendor: On Expenses › Payments click + Make Vendor Payment, choose the vendor, date, method and bank, tick the bills, then Save and Confirm. In the books: Each bill line posts to the expense account its category is mapped to; paying the bill clears the payable. Statuses: Bill status: Pending; Bill status: Paid; Bill status: Partially Paid; Bill status: Overdue; Bill status: Deleted; Bill status: Incomplete; Payment status: Active; Payment status: Pending Clearance; Payment status: Approval Pending; Payment status: Closed. Rules and limits: - Vendor, Number, Issue Date, Terms, Due Date and Memo are required on a bill; Next unlocks the lines. - A bill can be Recurring, Accrued or Deferred — only one of these at a time. Deferred bills apply to expense categories only. - Only pending bills can be edited or deleted; paid bills are locked. The vendor and bill type can't be changed after saving. Deleted bills move to the Deleted filter. - On a deferred bill, months already recognized can't be cancelled or deleted. - Cancelling a recurring schedule stops future bills; bills already created stay. - Uploads and e-mails: PDF, JPG, JPEG, PNG, HEIC, HEIF; 5 MB per file when uploading, 5 MB per e-mail when e-mailing. - Bills and receipts can also be e-mailed in. They must come from the user's registered fiscal50 e-mail address, and the receiving address (one for receipts, one for bills) sets the document type. - Uploading a bill does not create the bill, and uploading a receipt does not record a payment by itself; documents attach to records that exist (or use Record bill payment & attach receipt). - One payment covers one vendor; tick as many of that vendor's bills as you like. Only unpaid (active) bills can be paid. - A smaller Amount Paid leaves a bill Partially Paid; an overpayment becomes vendor credit applied to later bills. - Changing a category's account mapping doesn't move amounts already recorded. - DPO = (Accounts Payable ÷ Cost of Goods Sold) × days in the period. Q: Can a bill be both recurring and deferred? A: No. A bill can be recurring, accrued or deferred — only one at a time. Q: How do I correct an accrued bill when the real bill arrives? A: Pay the accrued bill and adjust the amount when you record the payment so it matches the actual bill. fiscal50 adjusts the expense for any difference. Q: Which file formats can I upload, and how large? A: PDF, JPG, JPEG, PNG, HEIC and HEIF. The limit is 5 MB per file when uploading, and 5 MB per e-mail when e-mailing. Q: Why wasn't my document matched? A: The payment or bill may not be recorded yet, the details may be hard to read, or the type may be wrong. Link it yourself using the Action column. Q: Can I pay several bills at once? A: Yes, for one vendor. Tick each of that vendor's bills on the payment screen and fiscal50 applies the payment to each bill and records it as one payment from your bank. Pay a second vendor separately. Q: What happens if I pay more than the bill? A: The extra shows in Credits/Over Payment and stays as a credit with the vendor, applied to later bills until it is used up. ### Vendor and payee management (https://www.fiscal50.com/vendor-management-software/) fiscal50 keeps your vendors in one Vendors list with each one’s credits, current balance and status. Icons on every row open that vendor’s dashboard, ledger and timeline, and the Action menu creates a bill, makes a payment or opens Advance Transactions. Advances paid to a vendor are held as credit and applied when their bill arrives. Vendors can be marked for 1099 tracking, and a vendor’s SSN is encrypted when saved and shown masked. Payees are everyone else you pay directly, such as employees, tax agencies and landlords, each with a type, their own transaction list and 1099 tracking; every vendor is also available as a payee. - One list with credits and balances: One row per vendor with DOJ, Credits, Current Balance and Status. Sort by Current Balance to see which vendors you owe the most. - A dashboard for every vendor: What you spend with the vendor by month and year, their pending bills, your credit with them and the amount due, with All Expenses/Other Transactions and Bills tabs. - Ledger and timeline: The Ledger lists every transaction with the vendor and the running balance; the Timeline shows bills, advances and payments in date order. - 1099 tracking per vendor: Tick Track payments for 1099 and the vendor always appears in 1099 Filings with a 1099 badge. Tracking never changes their bills or payments. - Protected SSN field: A vendor’s SSN is encrypted before it is stored, kept in a secure vault and shown masked. The full number is used only when you generate the Form 1099. - Vendor advances as prepayments: Pay a deposit with Pay Advance. It is recorded as a prepayment and held as credit with the vendor, then applied when their bill arrives. - Payees for direct payments: Employees, tax agencies, landlords and one-off contractors you pay without a bill, each with a type: Vendor, Employee, Tax Agency / Government or Other / General Payee. - Payee transactions and 1099: Payee Transactions lists every payment to a payee with its journal entry, and 1099 tracking works for payees too. Add a vendor: 1. Open Add Vendor: Go to Expenses › Vendors and click + Add Vendor for the quick form, or the arrow next to it for the detailed form. 2. Name the vendor: Choose Company or Individual, enter the company and contact names, and pick or type the Display name used in lists, on bills and on checks. 3. Enter the tax ID: Enter an EIN for a company or an SSN for an individual. You can skip it for now and add it before you file the vendor’s Form 1099. 4. Set terms and opening balance: Choose Terms (Due on Receipt, Net 15, Net 30 or Net 60) and any Opening Balance you already owed. The detailed form also takes the address and bank details. 5. Turn on 1099 tracking and save: Switch on 1099 tracking if you may need to file a Form 1099 for the vendor, then click Save. In the books: A vendor advance is kept as a prepayment until the bill arrives, then applied to it. Q: What is the difference between a payee and a vendor? A: A vendor sends you bills to pay later. A payee is anyone you pay, usually directly without a bill, such as an employee, a tax agency or a landlord. Every vendor is also available as a payee. Q: What payee types are there? A: Vendor, Employee, Tax Agency / Government and Other / General Payee. Payee Transactions lists every payment to a payee with its journal entry. Q: Is a vendor’s SSN kept secure? A: Yes. It is encrypted when saved, stored separately in a secure vault and shown masked. Lists and reports show only the last 4 digits; the full number is used only when you generate the vendor’s Form 1099. Q: Do I need a vendor’s SSN or EIN to add them? A: No. It is only needed before you file their Form 1099. Collect it on a Form W-9. Q: Is a vendor advance an expense? A: Not yet. It is recorded as a prepayment asset. The expense is recorded when the vendor’s bill arrives, and the advance is applied to that bill. Q: Where do I upload a vendor’s bills and receipts? A: On Expenses › Bill & Receipt Uploads, or by e-mailing them in. fiscal50 reads each document and attaches it to the matching bill, payment or bank transaction. See Bill and receipt uploads. ### Bill and receipt uploads (https://www.fiscal50.com/bill-and-receipt-uploads/) Every bill and receipt lands on Expenses › Bill & Receipt Uploads. Upload PDF, JPG, JPEG, PNG, HEIC or HEIF files up to 5 MB each from a computer or a phone, or e-mail them in from your registered fiscal50 address. fiscal50 reads the vendor, date, amount and document number and attaches each document to the matching record: receipts to payments or bank feed transactions, bills to bill records. A document that didn’t match waits in the list with nothing under Attached To. Choose what to do with it in the Action column, pick the record under Link to Record and click Record Transaction. - Upload from a computer or phone: PDF, JPG, JPEG, PNG, HEIC or HEIF, up to 5 MB each. A phone photo of a receipt can be uploaded as it is. - Or e-mail it in: Send bills and receipts from your registered fiscal50 e-mail address. The envelope button shows the addresses, and the one you send to tells fiscal50 whether it is a bill or a receipt. - Read for you: The vendor, date, amount and document number are read from the document, so you don’t type them. - Attached where it belongs: Receipts attach to payments or bank feed transactions; bills attach to bill records. Attached To shows Payment Record or Bill Record. - One click to the transaction: The eye icon under View Transaction opens the payment or bill the document is attached to. - Nothing left behind: A document that didn’t match waits in the list. In Action, map it to an existing transaction or record a payment against a vendor bill, pick the record in Link to Record, then click Record Transaction. - Find any document: Search by file name, filter with Status & Type and switch the year. The download icon next to each file name gives you the original. - Bills and receipts, both: File Type shows Bill or Receipt for every document, whether it was uploaded or e-mailed in. Upload a receipt and match it: 1. Open the uploads list: Go to Expenses › Bill & Receipt Uploads. 2. Upload the file: Click Upload, choose the file and set its type to Receipt (or Bill). Or e-mail it in from your registered address. 3. Let fiscal50 read it: fiscal50 reads the vendor, date, amount and document number and attaches the receipt to the matching payment or bank transaction. 4. Check Attached To: Payment Record or Bill Record means it is filed; the eye icon opens that transaction. 5. Finish any that didn’t match: Pick an option in Action, choose the record in Link to Record (the eye icon previews it) and click Record Transaction. In the books: Uploading a bill or receipt posts nothing by itself; the bill or payment it is attached to carries the entry. When you record a payment from an unmatched receipt, that payment posts like any other. Q: Which files can I upload, and how large? A: PDF, JPG, JPEG, PNG, HEIC and HEIF. The limit is 5 MB per file when uploading and 5 MB per e-mail when e-mailing. Q: How do I e-mail documents in? A: Click the envelope button on Bill & Receipt Uploads to see the addresses, then send the document from your registered fiscal50 e-mail address. The address you send it to tells fiscal50 whether it is a bill or a receipt. E-mails from other addresses can’t be linked to your account. Q: Does uploading a bill create the bill? A: No. Uploading a bill attaches it to an existing bill record, and uploading a receipt attaches it to an existing payment or bank transaction. For a receipt with no payment yet, record the payment from the Action column. Q: Why wasn’t my document matched? A: The payment or bill may not be recorded yet, the details may be hard to read, or the type may be wrong. It waits in the list; match it yourself from the Action and Link to Record columns. Q: Can I upload from my phone? A: Yes. Open fiscal50 in your phone’s browser and upload the photo as it is; HEIC, JPG and PNG are supported. Q: Where can I see the document later? A: On Bill & Receipt Uploads, where the download icon gives you the original, and on the transaction it is attached to. ### Check printing (https://www.fiscal50.com/check-printing-software/) fiscal50 prints vendor checks onto pre-printed laser check stock straight from your recorded payments. You create one check setup per bank account, choosing one of three supported US Letter templates and fine-tuning where the date, payee name, amount, amount in words and memo print. Any bill payment or Make Other Payment recorded with Check as the payment method can then be previewed with its real details and printed, either one at a time or as a batch from one bank account in a single PDF with one check per page. Your bank details, MICR line and signature line stay on the pre-printed stock; fiscal50 prints only the payment details. - Three supported check layouts: Templates for Middle Multi-Purpose Laser Computer Checks (CDM489), Laser Top QuickBooks Checks without Lines and Laser Top QuickBooks Checks with Lines, all on US Letter paper. - One check setup per bank account: Each setup holds the check template and the exact position of every printed field for one bank account, so an operating account and a payroll account each get their own layout. - Field positions in inches with a live preview: Move the Date, Payee name, Amount (numeric), Amount in words and Memo by X and Y in inches, up to 0.25 inch from the template default; the Live preview updates as you type. - Test print on plain paper: Test print (PDF) creates a sample check to print on plain paper, lay over a real check and hold up to the light, so you can check alignment without wasting check stock. - Checks from bill payments or other payments: Any payment with Check as the payment method can be printed: a vendor bill payment, or a Make Other Payment for spending with no bill behind it. - Preview with the real payment details: The Print Check window shows the check on the stock image with this payment's real date, payee, amount, amount in words and memo before you print. - Batch printing in one PDF: Filter the Payments list by bank, tick the checks and click Print selected checks to get one PDF with one check per page, in list order. - Amount in words in US format: The amount in words is written as dollars in words followed by the cents as NN/100, for example "One thousand two hundred thirty-four and 56/100", and long text wraps to fit the line. How it works in fiscal50: 1. Create the check setup: Go to Expenses › Checks › Check Print Setup, enter a Setup name and choose the Bank the checks are drawn on. 2. Choose the template and test print: Choose the Check template that matches your check stock; its default positions fill in. Click Test print (PDF), print on plain paper and lay it over a real check. 3. Fine-tune and save: If one field is slightly out of place, adjust its X or Y in inches, watch the Live preview, test again, then click Save. 4. Record the payment by check: Pay a bill with Check as the payment method, or use Make Other Payment with Payment Method Check, entering the Bank and the Check No. printed on the stock you will load. 5. Print one check or a batch: In the Payments list click Print Check in the payment's row, or choose a bank in the bank filter, tick several checks and click Print selected checks; choose the template, click Print and print the PDF at actual size. In the books: Printing a check posts nothing by itself. The check is the payment, and the payment carries the entry. Statuses: Payment status: Active; Payment status: Pending Clearance. Rules and limits: - One check setup per bank account. - Choosing a template fills default positions; changing the template resets them to that template's defaults. - Each field can move up to 0.25 inch in any direction from the template's default; make small steps (0.05 inch) and re-test. - Only the payment details print (Date, Payee name, Amount, Amount in words, Memo); bank details, the MICR line and the signature line must be pre-printed on the stock. fiscal50 cannot print on blank check paper. - All three templates are laser check stock on US Letter paper; print on a laser printer at actual size (100%), portrait, with Fit to page / Shrink to fit turned off. - Print Check appears only on payments made with Check as the payment method. - Batch printing is per bank account: checkboxes appear only after a bank is chosen in the bank filter. - A batch prints as one PDF, one check per page, in list order. - Issue Date prints as the check date, Memo on the memo line, and the vendor's display name as the payee. - Check cleared? stays No until the bank pays the check, then Yes. Q: What check stock can I use? A: Laser checks matching one of three templates: Middle Multi-Purpose Laser Computer Checks (CDM489), Laser Top QuickBooks Checks without Lines, or Laser Top QuickBooks Checks with Lines, all on US Letter paper. Q: Does fiscal50 print the bank account and routing numbers? A: No. These are pre-printed on your check stock, along with the signature line. fiscal50 prints onto pre-printed check stock only, not blank check paper. Q: Do I need a separate setup for each bank account? A: Yes. Each check setup is linked to one bank account. Q: How do I print several checks at once? A: Filter the Payments list by bank, tick the checks, click Print selected checks, choose the template and click Print. You get one PDF with one check per page, in list order. Q: Why are my checks misaligned? A: Usually because the PDF was scaled. Print at actual size (100%) and make sure the paper guides are snug. If a single field is off, adjust its X or Y; if everything is badly out of place, choose the right template. Q: Which payments can I print checks for? A: Payments made with Check as the payment method: bill payments and payments made with Make Other Payment. ### 1099 tracking (https://www.fiscal50.com/1099-tracking-software/) fiscal50 prepares Form 1099-NEC from the payments you have already recorded. For the tax year you choose, it adds up each recipient's non-card payments by payment date, compares them with the year's threshold ($2,000 for payments made in 2026, $600 for earlier years), and flags anyone with a missing TIN, address or vendor name. You can print recipient copies (Copy B) on plain paper, download a 1099 Detail report in Excel or PDF, and export a CSV in a Generic, Track1099, Tax1099 or TaxBandits column layout to upload to your 1099 filing service. fiscal50 prepares your 1099 information but does not file it with the IRS for you. - Mark vendors and payees for 1099: Tick Track payments for 1099 on a vendor (or switch on the 1099 toggle on the quick form); payees have the same SSN, EIN and 1099 tracking fields. Tracked recipients always appear in 1099 Filings with a green 1099 badge. - Protected SSNs: A vendor's SSN is encrypted before it is stored, kept in a secure vault apart from the vendor record, shown masked to the last 4 digits, and unlocked only when you generate the vendor's Form 1099. - Box 1 totals by payment date: Box 1 — Nonemployee comp. is the total paid by check, ACH or cash in the tax year, counted by payment date. Card payments are shown separately and left out of Box 1 because card processors report them on Form 1099-K. - Threshold and issue checks: Each recipient gets a status: Ready to file, Below threshold, Missing TIN, Missing address or Missing vendor name. Recipients with an issue can't be printed until it is fixed. - Summary cards and filters: Tracked for 1099, Above threshold, Needs attention and Reportable total cards sit above the list, and the filter narrows it to groups such as Ready to file or Needs attention, each with a count. - 1099 Detail report: Download every payment behind each vendor's total in Excel (.xlsx) or PDF, with Type, Date, Ref #, Payment Method, Card? and a running Balance, and each total split into non-card and card amounts. - Print Copy B: Print one recipient's Copy B from their row, or Print All for one PDF covering every recipient at or above the threshold with no issues. - CSV export for e-filing: Export CSV in a Generic layout or the column layout of Track1099, Tax1099 or TaxBandits, with a field-mapping guide, to upload to your 1099 filing service, which files Copy A with the IRS. How it works in fiscal50: 1. Set up each recipient: On each contractor's vendor or payee record, set Vendor Type, enter the EIN (NN-NNNNNNN) or SSN (NNN-NN-NNNN), the mailing address, and tick Track payments for 1099. 2. Add your payer details: Open Expenses › 1099 Filings. If the Payer details banner says your EIN is missing, type it in the Payer EIN box and click Save. 3. Choose the tax year and fix issues: Choose the Tax year, filter to Needs attention, and edit each vendor or payee to add a missing TIN, address or name, then return to 1099 Filings. 4. Check the numbers: Click 1099 Detail and download the Excel or PDF report to see every payment behind each total. 5. Deliver and file: By January 31, Print or Print All to produce Copy B for recipients, and Export CSV in your filing service's format to e-file Copy A. In the books: 1099 Filings is a report and an export. It posts nothing, and tracking a vendor changes none of their bills or payments. Statuses: Ready to file; Below threshold; Missing TIN; Missing address; Missing vendor name. Rules and limits: - Threshold: $2,000 for payments made in 2026; $600 for earlier years. The screen shows the threshold for the selected year. - Payments count in the year they were paid, not the year of the bill. - Card payments are excluded from Box 1 (reported on Form 1099-K) unless Include credit card payments in Box 1 is turned on in the CSV export; it is off by default. - One TIN per recipient: an SSN for individuals or an EIN for businesses; shown masked to the last 4 digits. - A recipient appears in the list when 1099 tracking is on, or when their non-card payments reach the year's threshold. - Recipients with an issue (Missing TIN, Missing address, Missing vendor name) can't be printed until it is fixed. - Print All and the CSV include only recipients at or above the threshold with no issues. - fiscal50 prints Copy B only, on plain paper. Copy A must be e-filed (through a filing service using the CSV) or printed on official red-ink forms. fiscal50 does not file with the IRS. - The CSV cannot be uploaded directly to the IRS IRIS system, which uses its own template. - Each PDF starts with a disclaimer page; remove it before sending forms to recipients. - An SSN or EIN is not needed to add a vendor or record bills and payments; turning on 1099 tracking without one shows a reminder but still saves. - 1099 tracking does not change any bills or payments; it only controls how the vendor is treated in 1099 Filings. - Usual federal deadline: January 31 of the year after the tax year; a weekend or holiday moves it to the next business day. State rules vary. Q: Does fiscal50 file my 1099s with the IRS? A: No. It prepares recipient copies and a CSV you upload to a 1099 filing service, which files with the IRS. Q: What is the 1099-NEC threshold? A: For payments made in 2026, $2,000. It was $600 for earlier years. The screen shows the threshold for the selected year. Q: Why are credit card payments not in Box 1? A: Card processors report those payments on Form 1099-K, so they are excluded to avoid double reporting. You can include them in the CSV by turning on Include credit card payments in Box 1; it is off by default. Q: Which year does a payment count in? A: The year it was paid, not the year of the bill. A bill dated in December and paid in January counts in January's year. Q: Which CSV formats are available? A: Generic, which works with most importers, and column layouts for Track1099, Tax1099 and TaxBandits. Choose Generic if your filing service isn't listed. Q: Is the vendor's SSN kept secure? A: Yes. It is encrypted when saved, stored separately in a secure vault, and shown masked. Lists and reports show only the last 4 digits; the full number is used only when you generate the vendor's Form 1099. ## Inventory and fixed assets ### Inventory (https://www.fiscal50.com/inventory-management-software/) fiscal50's inventory module follows your products from the vendor bill to the customer invoice. Every vendor bill with product lines becomes a vendor order that adds stock when you mark it received, and every customer invoice with products becomes a sales order tracked for shipping, payment and returns. Current Inventory shows each product's sales price, average cost, re-stock threshold, stock on hand, quantities to be shipped and still pending, and lets you adjust stock for shrinkage or advertising against the purchase it came from. Reports value your stock at average unit cost and show every movement behind a product's quantity. - Inventory Dashboard: Orders to be shipped, orders to be received, total orders, your five top-selling items, a monthly Stock In vs. Stock Out chart, and a table of every product with quantities and prices. - Add or import products: Add a product with its category, SKU, description, units on hand and cost price (the opening balance is calculated), or import many from an Excel file in the QuickBooks® item list layout. - Re-stock thresholds: Set a re-stock threshold per product; when Current Inventory runs down to it, the cell turns red so you can see what to re-order. - Stock by purchase and adjustments: See which vendor bill each unit on hand came from, and reduce stock with Shrink Inventory (lost, damaged, stolen, expired) or Advertising (samples, displays, giveaways) at that purchase's unit cost. - Sales orders and returns: Every customer invoice with products appears as a sales order with shipping and payment status. Record a Normal Return (back into stock) or a Damaged Return (expensed); the customer is credited automatically. - Receive vendor orders: Every vendor bill with products appears as a vendor order; Receive Inventory with the arrival date adds the products to stock and clears them from Pending (Yet to be received). - Inventory Value Report: Total and available stock per product as quantities and dollar values at average unit cost, for any period you choose, with export to Excel. - Item Stock History: Every movement behind a product's quantity — Opening Entry, Purchased, Sold, Normal Return — with the customer or vendor and invoice number. How it works in fiscal50: 1. Add your products: On Inventory › Dashboard click + Add Items and enter Category, SKU, Description, the Unit on hand, Cost Price and Sales price/rate — or use Import Items with the QuickBooks® sample file layout. 2. Buy stock with an inventory bill: Record a vendor bill with product lines (Expenses › Bills › Create Bill, Inventory selected). It appears on Inventory › Vendor Orders as Pending. 3. Receive the goods: When the delivery arrives, click Receive Inventory on the vendor order, set the Date it arrived and click Save; the units join Current Inventory. 4. Sell and ship: Invoice the customer with product lines; the sale appears on Inventory › Sales Orders. Answer Yes when fiscal50 asks whether the order has shipped. 5. Handle returns and value your stock: Record Normal or Damaged Returns from the order's Action menu, and use the Inventory Value Report to value stock on hand at period end. In the books: Stock is bought on a bill and its cost moves to Cost of Goods Sold when the items sell. Statuses: Pending; Paid; Received; Active; Inactive. Rules and limits: - Required when adding a product: Category, SKU and Description. - Opening Balance = Unit × Cost Price (50 × $20.00 = $1,000.00). - Current inventory = Total qty. − quantity sold (120 added, 51 sold → 69). - Import file: Excel in the QuickBooks® item list layout (download the sample). - Only vendor bills with product lines become vendor orders; a purchase recorded as a regular expense adds no stock. - Receive Inventory records the whole order with one date; partial receipts aren't described. Receiving updates stock only — pay the bill separately. - Shipping is recorded on the customer invoice, not on the Sales Orders list. - Normal Return puts goods back into stock; Damaged Return treats them as an expense. Paid invoice → credit applied to the customer; unpaid invoice → credit note applied to the invoice. - Return Amount = Return Quantity × Rate. - Adjust against the purchase the units actually came from, so the value removed matches what you paid. - Inventory values use average unit cost: Total Inventory = Total Qty. × Average Unit Cost; Available Inventory = Available Qty. × Average Unit Cost. - Exports contain exactly what you are viewing (search and filters applied). Q: What is the difference between Total qty. and Current inventory? A: Total qty. is the total quantity added to stock. Current inventory is what you have on hand now — the total quantity minus the quantity sold. Q: Why is a product's Current Inventory shown in red? A: Its stock has run down to its re-stock threshold. It is time to re-order. Q: What happens when I receive a vendor order? A: Its status changes to Received and its products are added to your Current Inventory. Use the date the goods actually arrived. Q: What is the difference between a Normal Return and a Damaged Return? A: A Normal Return is for goods that can be sold again — they go back into your inventory. A Damaged Return is for goods that can't be sold again — they are treated as an expense instead. Q: How is the customer credited for a return? A: If the invoice is already paid, a credit is applied to the customer. If it isn't paid yet, a credit note is issued and applied to the original invoice amount. Q: How is the inventory value calculated? A: The quantity multiplied by the Average Unit Cost — never the Sales Price. ### Fixed assets (https://www.fiscal50.com/asset-management-software/) fiscal50 keeps a fixed asset register that is filled from your purchase bills: each bill line with an asset (capital expense) category becomes an asset, with the bill date and amount carried over. You set up each asset with straight-line depreciation (Class Life, Total Basis, Salvage Value, Monthly or Annually), then let fiscal50 create the entries on schedule for approval (Auto) or post them yourself (Manual), one asset or a batch at a time. From the same register you record regular or capital maintenance, sell an asset with the gain or loss worked out, write it off, and review every transaction posted against it. The Depreciation Report lists every posted depreciation entry by asset and category, with totals and a category breakdown. - Assets created from bills: An asset is created when you record the bill for buying it, using an asset (capital expense) category on the bill line, so the purchase and the asset stay linked from the start. Each asset-category line becomes its own asset. - Straight-line depreciation setup: Set Class Life, Total Basis and Salvage Value per asset and choose Monthly or Annually. Yearly depreciation = (Total Basis − Salvage Value) ÷ Class Life; monthly = yearly ÷ 12. - Auto or Manual posting: With Auto, fiscal50 creates depreciation entries on schedule and sends them for approval in Needs your attention; with Manual, you post depreciation yourself from the Fixed Assets screen. - Batch depreciation: Tick several assets, check or change each Depreciation amount, then click Apply depreciation and choose the date to post it for. - Regular or capital maintenance: Record repairs paid straight from a bank account: regular maintenance is expensed to the category you choose, capital maintenance is added to the asset's value. - Sell with gain or loss: Record a sale with the sale amount, quantity, date and Deposit to account; the asset's cost and accumulated depreciation come off the books and the difference from its remaining value is recorded as a gain or loss. - Write off: Write off an asset that is damaged beyond repair, lost or scrapped: its remaining value is recorded as a loss, and it is marked as disposed and no longer depreciated. - Depreciation Report: Every posted depreciation entry by asset and category, with Total depreciation, a By category bar and breakdown with each category's share, and Category and Date filters that work together. How it works in fiscal50: 1. Record the purchase bill: Go to Expenses › Bills, click + Add Bill, and add a line with an asset (capital expense) category, a description and the amount. Save the bill; the asset appears in the register. 2. Set up the asset: On Assets › Asset Management, click Setup (Edit) in the asset's row, enter Class Life, Total Basis and Salvage Value, choose Monthly or Annually and Auto or Manual, then click Apply. 3. Post depreciation: Tick the assets, check the Depreciation amounts and click Apply depreciation, or use ⋮ › Depreciation on one asset and click Save depreciation. Auto entries post once approved. 4. Record maintenance: Click ⋮ › Maintenance, enter the date, choose Regular or Capital maintenance, the Payment method and Bank account, add expense lines, check the Total and save. 5. Sell or write off: Click ⋮ › Sell to record the sale amount, Sale date and Deposit to account, then Record sale; or ⋮ › Write off, enter the Write-off date and click Write off asset. In the books: Depreciation moves no cash. A sale takes the asset and its accumulated depreciation off the books and posts the gain or loss. Rules and limits: - Assets are created only by a vendor bill line with an asset (capital expense) category; Date added = bill date, Invoice value = bill amount. There is no add button on the Fixed Assets screen. - An asset must be set up (Setup (Edit) → Apply) before depreciation, maintenance, sale or write-off; until then an asset setup alert shows in Needs your attention. - The only depreciation method is Straight-Line Depreciation. - Straight-line: yearly = (Total Basis − Salvage Value) ÷ Class Life; monthly = yearly ÷ 12. - Auto depreciation entries appear as Depreciation items in Needs your attention and on the All alerts and transactions screen, and post only once approved. - Apply depreciation becomes available once at least one asset is ticked. - Writing off marks the asset as disposed and stops its depreciation. - Entries in an asset's Transactions window are locked; correct them at the source (such as the bill) or with a journal entry. - The Depreciation Report lists posted depreciation only — not maintenance, sales or write-offs. Its date filter offers only preset periods (Past 3, 6 or 9 months, Past year, All dates). - The register exports to Excel. Q: How do I add a new asset? A: Record the bill for buying it: Expenses › Bills › + Add Bill, with a line that uses an asset category. The asset then appears in the asset register. Q: Why can't I depreciate, sell, or write off an asset? A: The asset hasn't been set up yet. Click its Setup (Edit) button, complete the Configuration set up window, and click Apply. Q: What is the difference between Auto and Manual depreciation? A: With Auto, fiscal50 creates depreciation entries on schedule and sends them for approval. With Manual, you post depreciation yourself from the Fixed Assets screen. Q: What is the difference between regular and capital maintenance? A: Regular maintenance is upkeep and is recorded as an expense. Capital maintenance improves the asset and is added to its value. Q: What happens when I sell an asset? A: Its cost and accumulated depreciation are removed from your books, and any difference between the sale price and its remaining value is recorded as a gain or loss. Q: Why isn't my asset's depreciation in the Depreciation Report? A: Depreciation appears only once it is posted. If the asset is set to Auto, the entry may be waiting for approval in the Needs your attention list. If it is set to Manual, post it from the Fixed Assets screen. ## Reports and closing ### Financial reports (https://www.fiscal50.com/financial-reporting-software/) fiscal50 prepares its financial reports from your books each time you open one or apply a filter, so the Balance Sheet, Income Statement, Trial Balance and Cash Flow always show what is posted. You choose the dates by date range, month or fiscal year, and the Balance Sheet, Income Statement and Trial Balance switch between Cash and Accrual with one click. The Balance Sheet, Income Statement, Trial Balance and Cash Flow can show periods side by side in up to 60 columns of years, quarters, months, weeks or dates; the Balance Sheet, Income Statement and Cash Flow add the change in dollars and percent. The statements export to Excel or PDF and the General Ledger to Excel, and clicking an account name opens its ledger, where a transaction can be corrected. - Main statements one click apart: The Balance Sheet, Income Statement, Trial Balance, Cash Flow and Historical sit as tabs under every report title, with More statements, Accountant, Receivables, Payables and Analysis menus for the rest. The dates, accounting method and columns you chose come with you to most reports you open from there. - Cash or Accrual: Reports open with your company's accounting method, and the Cash | Accrual switch reloads the report at once. The Cash Flow uses the indirect method, starting from accrual net income, so it has no Cash / Accrual choice. - Compare periods in columns: Choose Multiple columns and a Display type of Years, Quarters, Months, Weeks or Dates; a report holds at most 60 columns. With 2 to 6 columns, the Balance Sheet, Income Statement and Cash Flow add Change $ and Change %, comparing each column with the one before it. - Income statement by location and special category: The Income Statement by Location & Special Category splits income, cost of goods sold, expenses and Net Earnings into up to 12 columns, each a location, a special category or both. Its All column is the company total and equals the Income Statement for the same dates and method. - Drill down and correct: Clicking an account name opens its ledger in fiscal50, with every transaction and the running balance. Edit, then Update, corrects the transaction; apply the filter again to see the change in the report. - Excel and PDF exports: Export uses the filters you applied: Detailed keeps every line, Summary leaves out only the sub-ledger accounts so the totals match. Excel keeps the first column and headings frozen, and a wide PDF turns to landscape. - Receivables, payables and analysis: A/R Aging and A/P Aging show what is owed by Current, 1–30, 31–60, 61–90 and Over 90, while the Analysis menu holds the common-size statements, Financial Ratios, Cash Position and the working capital reports. - Historical balance sheets: Upload prior-year trial balances or balance sheets (Excel or CSV) for years before your books start. They are kept as locked snapshots outside the general ledger and appear as (Historical) years in the Historical Comparison and in the Years view of the Balance Sheet and Income Statement (the Income Statement only for years uploaded as a trial balance). How it works in fiscal50: 1. Open the report: Click Reports in the main menu, open the group that holds the Balance Sheet and click Balance Sheet. It opens as of today, in one column, with your company's accounting method. 2. Open the filter panel: Click Filter to set the Accounting Method, Filter by, Display By and the dates. Changes in the panel wait for Apply filter. 3. Choose the time: Set Filter by to Date, Month or Fiscal Year, then pick a ready-made range in Select date range or type the dates as mm/dd/yyyy. 4. Compare periods in columns: Set Display By to Multiple columns, choose a Display type such as Months and a range such as Last 3 months, then click Apply filter. Change $ and Change % show with 2 to 6 columns. 5. Export or drill down: Click Export for Excel or PDF, Detailed or Summary, or click an account name to open its ledger and correct a transaction. In the books: Reports post nothing. They are prepared from your posted books each time you open one, and a correction made from a ledger posts through that transaction. Statuses: New; No data; (Historical); Locked; Matched; Unmatched; Warning. Rules and limits: - Reports are prepared from the books each time they are opened or a filter is applied. - Total Assets always equals Total Liabilities & Stockholder's Equity, and Total Debit must equal Total Credit on the Trial Balance; if either ever differs, a message shows above the report. - A report holds at most 60 columns; Change $ and Change % show only with 2 to 6 columns. - The Income Statement by Location & Special Category holds up to 12 columns; columns can overlap, so they don't add up to All. - Income and expense accounts start at zero each financial year; earlier years' profit is in Retained Earnings, and this year's profit shows as Net Income in equity. - The Trial Balance leaves out closing entries. - The Cash Flow uses the indirect method and has no Cash / Accrual choice; its Net income is the Income Statement's accrual Net Earnings for the same dates. - Exports use the applied filters; Summary leaves out only the sub-ledger accounts, so totals match the Detailed file. - Reports never change the books; only Edit → Update in the ledger does. - The report window closes 30 minutes after the report was last prepared, 8 hours after it was opened, or at sign-out. - A report window prepares up to about 30 reports or files a minute, a few at a time. - Historical snapshots: only fiscal year-ends before the books start date, one year per upload, Excel or CSV up to 10 MB / 5,000 rows; more than 10 unmatched rows blocks the import; snapshots are locked after import. - Historical snapshots are stored outside the general ledger — no journal entries, no change to opening balances or the books start date. Q: What is the difference between Cash and Accrual on the reports? A: Accrual counts income and expenses when they are earned or incurred, so unpaid invoices and bills are included and receivables and payables show. Cash counts them only when money is received or paid. Switch with Cash | Accrual on the report, or under Accounting Method in the filter panel. Q: How do I compare the last three months on the Balance Sheet? A: Open Filter, choose Multiple columns, Display type Months and Select date range Last 3 months, then click Apply filter. Last 3 months counts this month so far and the 2 before it. Q: Why don't Change $ and Change % show? A: The change columns show only when the report has 2 to 6 columns. They are also hidden when Show the change, which is ticked at first, has been unticked in the filter panel. Q: How do I see the transactions behind an amount? A: Click the account's name. Its ledger opens in fiscal50 with every transaction and the running balance: the General Ledger for a ledger account, or its own ledger for a sub-ledger account. Q: Why doesn't Downtown + Airport + Online equal All on the Income Statement by Location & Special Category? A: Some lines have no location, such as a deposit straight to interest income or a bill entered without one, so they show only in the All column. Columns can also overlap when you mix locations and special categories. Q: Do historical snapshots change my books? A: No. They are stored separately from your general ledger. They don't create journal entries or change your opening balances or books start date. ### Month-end close (https://www.fiscal50.com/month-end-close-software/) fiscal50 closes your books month by month, or a whole fiscal year at once, from Configuration › Month End Closing and Year End Closing. Before a period can close, a Pre-Closing Verification checklist confirms that every bank and credit card transaction for the period is recorded and every bank and credit card account is reconciled. It also flags anything else still pending, such as invoices, asset depreciation, transactions waiting for approval or inventory. When every item is cleared, Start Process closes the period: its status changes from Open to Closed, nothing dated in it can be created, edited or deleted, and reports for it still run with figures that no longer change. - Pre-Closing Verification checklist: Each period opens a checklist that shows Action needed until each item is resolved, with a cleared counter (for example 0 of 2 cleared) and a progress bar. Start Process stays faded until every item is cleared. - Bank checks built in: Bank Transactions checks for bank and credit card transactions not yet recorded, and Bank Reconciliation checks that every bank and credit card account is reconciled for the period. Review opens the pending items so you can resolve them. - Flags anything else that's pending: Extra checklist items appear only when something else is pending for the period, such as invoices, asset depreciation, transactions waiting for approval, or inventory. - Locked periods: Once a month or year is closed, no transactions dated in it can be created, edited or deleted, so the figures you reported on can't change. - Month by month or a whole year: Month End Closing closes one completed month at a time. Year End Closing closes every month of a completed fiscal year in one step, after the same checklist. - Closes in order: Close Month appears only on the next month due, and the next month becomes available once it has ended. The Close Date records when each month was closed. - Reconciliation that feeds the close: Bank accounts reconcile month by month, credit cards statement by statement, and loans period by period. fiscal50 auto-clears matched transactions, so you handle only the exceptions until the Difference is 0. How it works in fiscal50: 1. Open Month End Closing: Click the Configuration (gear) icon at the right end of the main menu, then Month End Closing. The Closing Process screen lists the completed months of the selected fiscal year. 2. Click Close Month: Click Close Month on the next month due. The Start Process screen opens with the Pre-Closing Verification checklist for that month. 3. Clear each item: Click Review next to Bank Transactions and record each pending transaction, complete the bank reconciliation for every bank and credit card account, and resolve any other item. The note under Start Process says what is still blocking. 4. Start Process: When every item is cleared, click Start Process and confirm. You may be asked to enter your fiscal50 password again. 5. Check the month is closed: On the Closing Process screen the month's Status reads Closed and its Close Date is filled in. In the books: Closing posts nothing and moves no balances to Retained Earnings. It locks the period, so nothing dated in it can be created, edited or deleted. Statuses: Open; Closed; Action needed. Rules and limits: - Only completed periods can be closed: a month after it has ended, a year after the fiscal year has ended. The current and future periods can't be closed. - Periods close in order: February can be closed only after January is closed; an earlier year must be closed before a later one. - Bank reconciliation is mandatory: every bank and credit card account must be reconciled for the period before it can be closed. - Every checklist item must be cleared before Start Process becomes available. - Closed periods are locked: transactions dated in them can't be created, edited or deleted. - Reports still run for closed periods, and their figures don't change. - Confirming Start Process may ask you to re-enter your fiscal50 password. - Sub users need the matching feature access to close months. Q: Which software helps a bookkeeper close the books for multiple clients faster? A: fiscal50 closes each client’s month after a Pre-Closing Verification checklist confirms that bank transactions are recorded and accounts reconciled. Bookkeepers who manage many clients use the fiscal50 Bookkeeper Workspace, where every client’s close sits on one board with checks that tick themselves from fiscal50 data and a second person’s sign-off (Practice and Firm plans). Q: What should a month-end close checklist include? A: In fiscal50 the checklist confirms every bank and credit card transaction is recorded and every bank and credit card account is reconciled, then flags anything else pending for the period, such as invoices, asset depreciation, transactions waiting for approval or inventory. The month-end close checklist page lists the full set of steps, including a client onboarding checklist for bookkeepers. Q: Does closing a month post an entry to Retained Earnings? A: No. Closing posts nothing and moves no balances. It locks the period so nothing dated in it can be created, edited or deleted. Income and expense accounts start at zero each financial year, and earlier years’ profit shows in Retained Earnings. Q: Can I add or edit transactions in a closed month? A: No. A closed month or year is locked. Transactions dated in that period can't be created, edited or deleted. Q: Can I close the current month? A: No. A month can be closed only after it has ended. Only completed months appear on the Closing Process screen. Q: Can I skip a month? A: No. Months are closed in order. The Close Month button appears only on the next month due to be closed. Q: Is bank reconciliation required before closing? A: Yes. Every bank and credit card account must be reconciled for the period before it can be closed. Q: Why is the Start Process button faded? A: At least one checklist item still shows Action needed. The note under the button tells you what must be done first. Q: Does closing change my reports? A: No. Every report still runs for closed periods, and their figures no longer change. ### Tax software export (https://www.fiscal50.com/tax-software-export/) fiscal50 exports your year-end books in formats for TaxAct and Intuit tax software. Exports cover C corporations, S corporations, LLCs and sole proprietorships, so the figures you or your tax preparer enter come straight from reconciled, closed books. - TaxAct and Intuit: Exports shaped for the tax software small businesses and preparers already use. - Entity aware: C corporation, S corporation, LLC and sole proprietorship exports. - From closed books: Close the year first and export figures that will not change underneath you. Q: Which business types are supported? A: C corporations, S corporations, LLCs and sole proprietorships. ## Control and scale ### Approvals and user access (https://www.fiscal50.com/approvals-and-user-access/) fiscal50 holds transactions for approval in two cases: automated entries such as recurring invoices, deferred income or expense and depreciation, and user-entered invoices, bills and payments whose transaction type has an approval workflow. Everything waiting shows under Needs your attention in the header and on the All alerts and transactions screen, where you review the details and approve, disapprove or edit before approving. Workflows are set per transaction type with Approver 1, Approver 2 and so on, and each approver sees an item when it reaches their turn. Sub users sign in with their own email and see only the modules, features, reports and tools you give them. - Needs your attention, from any screen: The approvals icon in the header shows a dot when items are waiting and opens the Needs your attention list, one row per type and date. The list refreshes automatically every few minutes and also appears as a card on your dashboard. - One screen for every approval and alert: All alerts and transactions groups the items of one type raised on one date. Filter by Category, Type, Status or Date (the last 3, 6, 9 or 12 months) to work through one type at a time. - Approve one, many or a whole row: Approve or disapprove a single transaction in the details window, every pending transaction with Approve All or Disapprove All, or a whole row from the main screen. Approved transactions are processed; disapproved ones are not. - Edit before you approve: For types that can be edited, such as recurring customer invoices, Modify opens the transaction so you can change dates, rates, quantities or lines, Preview it and Update. Changes apply to the invoices the schedule generates. - Multi-level approval workflows: In Configuration › Settings › Approvals, set the number of approvers and Approver 1, Approver 2 and so on for Customer Invoice, Customer Invoice Payment, Vendor Invoice and Vendor Invoice Payment. A transaction is completed only after the final approver approves it. - Approval for automated entries: Recurring invoices and automated deferred income or expense entries can be set to wait for review before they are processed, and depreciation entries wait before they are posted. - Sub users with their own sign-in: Add an employee, bookkeeper or accountant in three steps — Details, Access and Review. Each sub user signs in with their own email and password, so you never share yours. - Feature-level permissions: On the Transactions tab each feature has two permissions, Add and View, edit & delete; on the Reports & tools tab each report, dashboard or tool is switched on or off. A sub user adding others can give only the access they have themselves. How it works in fiscal50: 1. Add the people: Open Configuration › Sub Users › Add User, enter their name and the email they sign in with, choose their access, then click Create user and send invite. 2. Set up the approvers: In Configuration › Settings › Approvals, click the gear on a transaction type, choose Select no. of approvers, pick Approver 1, Approver 2 and so on, and click Save. 3. Open Needs your attention: Click the approvals icon in the header. Click a row to jump straight to it, or click See all alerts and transactions. 4. Review the details: Click View Details on a row to see every transaction in the group; use Modify on a pending item that needs changes, then Update. 5. Approve or disapprove: Click Approve or Disapprove on each transaction, or use Approve All or Disapprove All. Approved transactions are processed and show Approved. In the books: Approval posts nothing extra. An approved item is processed as normal and posts its own entry; until then it waits. Statuses: Pending; Approved; Full access; No access; Not available; Draft; Invite sent; Created; User created; Available. Rules and limits: - User-submitted transactions go for approval only when an approval setup exists for their transaction type; types without one are recorded straight away. - Approvers review in order — Approver 1, then Approver 2 and so on; each sees the item when it reaches their turn, and the transaction is completed only after the final approver approves it. - Approvers are chosen from the users on the account, including sub users. - Recurring invoices and deferred income or expense entries wait for approval when Approval required is Yes; depreciation entries wait before they are posted. - Approved transactions are processed; disapproved transactions are not processed. - Approve All and Disapprove All act on every pending transaction in the window; approved items have no further action. - Edits to a recurring invoice apply to the invoices its schedule generates, not only to this occurrence. - Alerts (asset setup pending, asset depreciation pending) clear once the underlying item is resolved. - General Settings apply to the whole company; Reports Configuration and Batch Job save as you change them, approval setups save with Save. - No Approvals section on the Settings page means your user access doesn't include approval setup. - Sub user names: letters (including accented), spaces, apostrophes, periods and hyphens, up to 50 characters, starting with a letter; email up to 254 characters and new to fiscal50. - Nothing is saved until Create user and send invite; at least one permission, module or Reports & tools switch is required. - A sub user can give only the access they have themselves; anything else is greyed out (Outside your own access). Q: Why is a recurring invoice waiting for approval? A: Approval required is on for recurring invoices, so each invoice the schedule creates waits for approval before it is processed. Q: Will a transaction go for approval if no approvers are set up? A: No. A transaction goes for approval only when an approval setup exists for its transaction type. Otherwise it is recorded straight away. Q: Can I approve everything at once? A: Yes. In the details window, click Approve All. You can also approve a whole row from the All alerts and transactions screen. Q: Does disapproving delete the transaction? A: No — it simply isn't processed. Automated items stay unprocessed; user-submitted ones can be corrected and resubmitted. Q: Can more than one person use my fiscal50 account? A: Yes — add each person as a sub user under Configuration (gear) › Sub Users › Add User. They work in your books with their own email and password and see only the modules, features, reports and tools you turn on. Q: Why are some checkboxes greyed out when I add a sub user? A: You're a sub user yourself, and those items are outside your own access. You can only give access you have; ask the account owner if the person needs it. ### Multiple companies (https://www.fiscal50.com/multi-company-accounting/) fiscal50's Companies module lets the main user of an account add other businesses to the same login, each with its own books, address and subscription on the main company's plan and billing cycle. You add a company from Settings › Companies with its name and United States address, see the price, any multi-company discount, the sales tax and the amount charged today, and pay with the saved card or a new one. The switch-company icon in the top bar then moves you between companies, and sub users get the same access in a new company as in the main one. Added companies can later be cancelled, deactivated, reactivated or removed from their cards on the Companies screen. - One login, several sets of books: Every company you add gets its own books, its own address and its own subscription. After you switch, everything you open — transactions, reports and settings — belongs to that company. - Switch from the top bar: The switch-company icon next to the fiscal year lists your companies, the current one in bold with a tick. Each browser tab works in one company, and a tab left behind shows "You switched company in another tab" with a button to reload it. - Clear price before you pay: The Subscription for this company panel shows the plan, any multi-company discount, the sales tax for the new address and Charged today, with the renewal amount underneath. The total is worked out again when you pay, and a changed total must be confirmed. - Saved card or a new card: Pay with the card saved for your main company, or use a new card for that company's subscription only. The secure card form is drawn by the card processor, so fiscal50 never sees the card number. - Guided setup for each new company: After the payment the new company opens on its configuration screen — business type, industry and fiscal year. Until it is finished, it carries a Setup pending badge and a Finish setup button. - Cancel, deactivate, reactivate or remove: Cancel subscription keeps a company open until the paid-through date; Deactivate closes it at once and keeps the books; Reactivate is free until the paid-through date; Remove is final and needs REMOVE typed. - Sub users carry over: Sub users you have when you add a company get the same access in it as in your main company, and a sub user who can open two or more companies switches between them the same way you do. How it works in fiscal50: 1. Open the Companies screen: Log in with the main user of the account, click Settings in the main menu, then click Companies. 2. Enter the name and address: Click + Add Company, type the Company name (2 to 60 characters), start typing the street in Address line 1 and pick the suggestion; check City, State and ZIP. 3. Check the price panel: Read the plan, any multi-company discount, the sales tax for the new address and Charged today, with the renewal amount underneath. 4. Pay: Keep the saved card and click Pay and add company, or choose Use a new card and click Continue to card payment. Wait for "Company added". 5. Finish the setup: The new company opens on its configuration screen: complete the business type, industry and fiscal year so it is ready to use. In the books: Each company has its own books. Adding, switching or deactivating a company posts nothing to any of them. Statuses: Main company; Main; Active; Will not renew; Deactivated; Ended; You are here; Setup pending; Company added; Payment received; Your company is ready. Rules and limits: - Only the main user of the account sees Companies and adds or manages companies; sub users and bookkeeper sessions cannot. - Add Company requires the main company to have an active paid subscription with a saved card. - An added company is on the main company's plan and billing cycle; it cannot be on a different plan. Changing the plan in Billing changes only the main company. - Only US addresses are accepted; sales tax is worked out from the new company's address, on the price after the discount. If the tax can't be worked out, nothing is charged. - A card is never charged twice for the same company. - The secure card form stays open 35 minutes. - The switch-company icon appears once a login can open two or more companies; each browser tab works in one company. - The main company is never switched off or removed on the Companies screen; its plan and card are in Billing. - Cancel subscription: open until the paid-through date, then closes; Resume subscription before that date. - Deactivate: closed right away for everyone, no renewal, books kept; free reactivation until the paid-through date. - Reactivating after the paid-through date or for an Ended company starts a new subscription at the full plan price plus tax on the main company's saved card; the multi-company discount does not apply again. - Remove cancels the subscription at once with no refund and can't be undone from the screen; it needs REMOVE typed. - No action refunds unused time. Q: Can an added company be on a different plan or billing cycle? A: No. Every added company is on the same plan and billing cycle as your main company. Q: Why is the sales tax different from my main company's? A: The tax is worked out for the address of the new company, not for the address of your main company. Q: Can my sub users switch companies? A: Yes, between the companies they have access to, using the switch-company icon. They cannot add or manage companies. Q: What is the difference between Cancel subscription and Deactivate? A: Cancel keeps the company open until the end of the paid period and then closes it. Deactivate closes it right away. Neither refunds anything, and both can be undone until the paid-through date. Q: What does reactivating cost? A: Nothing before the paid-through date. After it, or for an Ended company, a new subscription is started at the plan price plus tax, charged to the main company's saved card, and the amount is shown before you confirm. Q: Can a bookkeeper add or manage companies? A: No. The Companies module isn't available in a bookkeeper session; the business owner adds and manages companies from their own login. ### Setup and migration (https://www.fiscal50.com/quickbooks-migration/) fiscal50 sets up a new company from QuickBooks in two parts: the Configuration Agent for your accounts and opening balances, and the import screens for your lists. You upload two QuickBooks Online or QuickBooks Desktop exports, your chart of accounts and your trial balance or balance sheet as of the day before your books start date. The agent matches each account by name, checks that debits equal credits, and shows a preview with errors and warnings before anything is saved. After you click Approve & Import, fiscal50 creates the chart of accounts, sets up your bank and credit card accounts, and records your opening balances in one opening journal entry. Customers, vendors, products/items and the chart of accounts can also be imported in the exact format QuickBooks exports them, using the QuickBooks template on each import screen. - Accounts and balances in one step: The Configuration Agent reads your QuickBooks chart of accounts and trial balance or balance sheet, matches your accounts, checks your balances and shows a preview. Nothing is imported until you click Approve & Import. - Reads QuickBooks exports as they are: The agent detects each file's layout and finds the header row and the name, number, type and amount columns, even in QuickBooks exports with indented, grouped rows. - Clear matching rules: Accounts are matched by name, never by number. Accounts that match a fiscal50 system account or one of your existing accounts are mapped to it, and everything else is created as a new account. - Errors and warnings before you import: Each issue is flagged red (error) or amber (warning) with a hint on how to fix it. Errors such as a missing account type or an unmatched balance line block the import; warnings don't. - Bank accounts ready for Plaid: Accounts typed Bank or Credit Card are set up as bank and credit card accounts, leaving out clearing, petty cash, investment and group-heading accounts. Finalize & Link Banks with Plaid continues straight to connecting them. - Lists in QuickBooks format: Customers, vendors, products/items and the chart of accounts import with Template Type set to QuickBooks. Each record is validated, and a summary shows how many were imported and which rows were skipped. - Guided start with fiscal50's own accounts: If you'd rather use fiscal50's chart of accounts, the Opening Entries page walks through bank accounts, partners, vendors, customers, assets, inventory and other balances, with a status icon on each row and a live Balance Sheet button. How it works in fiscal50: 1. Choose to import your own accounts: On the Setup screen, click Import my Accounts and confirm. This choice can't be changed later. 2. Upload your two QuickBooks files: Click Import COA and Trial Balance/Balance Sheet, choose your chart of accounts export and your trial balance or balance sheet export, and click Analyze My Files. 3. Review and fix: Check the status banner and the chart of accounts and balance previews. Use Errors & warnings only to find each issue, and fix it with the Account Type, Map to or account picker controls. 4. Approve & Import: When no errors remain and debits equal credits, click Approve & Import. fiscal50 saves the chart of accounts, sets up bank and credit card accounts, and records one opening journal entry. 5. Finalize: Review the Chart of Accounts, Balance Sheet and Trial Balance links, then click Finalize Configuration, or Finalize & Link Banks with Plaid. In the books: The Configuration Agent records your balances as of the day before your books start in one opening journal entry. Transaction history is not imported. Statuses: Ready to import; Errors to fix; Re-upload required. Rules and limits: - Opening balances are always as of the day before the books start date (for a 01/01/2026 start, use balances as of 12/31/2025). - The books start date can be today, the start of your fiscal year, or a date you pick up to two years back. - The Configuration Agent accepts QuickBooks Online (QBO) and QuickBooks Desktop (QBD) exports only, as Excel or CSV files, each under 10 MB. Both files are required. - A trial balance (recommended) imports balances for all accounts including income and expenses; a balance sheet imports asset, liability and equity balances only. - Errors block Approve & Import; warnings don't. A file that doesn't balance, or more than 10 errors, requires a re-upload. - The choice between importing your own accounts and using fiscal50's accounts can't be changed later. - Fiscal year and books start date should be treated as final when you submit the questionnaire; contact fiscal50 Support if they must change. - List imports cover customers, vendors, products/items and the chart of accounts, one Excel file per data type; import the chart of accounts first, then customers and vendors, then products/items. - List imports don't migrate balances or transaction history; balances come across as opening balances during setup. - On the Opening Entries page, partners' capital shares should total 100%; otherwise a new partner holding the remaining capital is added automatically at Finalize. Q: Which files do I need? A: Your chart of accounts and your trial balance or balance sheet, both exported from QuickBooks Online or QuickBooks Desktop, as Excel or CSV files under 10 MB each. Q: What date should my balances be as of? A: The day before the date fiscal50 starts recording your transactions. For example, for a 01/01/2026 start, use balances as of 12/31/2025. Q: Is anything saved when I click Analyze My Files? A: No. The agent only analyzes your files and shows a preview. Nothing is saved until you click Approve & Import. Q: Why do I have to re-upload my files? A: The agent found an error that can't be fixed on screen, such as a trial balance that doesn't balance, or more than 10 errors. Correct the files in QuickBooks and upload them again. Q: Does this migrate my transaction history? A: No. The QuickBooks import tools cover four lists: customers, vendors, products/items and the chart of accounts. Your financial position comes across as opening balances, on the Opening Entries page or with the Configuration Agent. Q: Can I upload files from other accounting software? A: Not at the moment. The Configuration Agent accepts QuickBooks Online and QuickBooks Desktop exports. ## Bookkeeper Workspace fiscal50 Bookkeeper Workspace is a free-to-start practice workspace for bookkeepers and accounting firms that keep books in fiscal50. Every client company sits in one login, whichever way the client works with the firm: the firm buys the client's fiscal50 licence at partner prices; the client pays fiscal50 directly and the firm earns a revenue share; or the business invites the firm with a connect code. From one dashboard the firm sees every client's bank feeds, Banks to Books backlog, reconciliations and month-end status. It runs a cross-client work queue, onboarding and migration checklists and integration health, and opens any client's fiscal50 books in one click with no shared password. Connect (free) covers all of that. Practice adds month-end close with checklists, automatic checks and reviewer sign-off, client document requests through the client portal with reminders, quality checks, health scores, recurring work, client AI memory, practice metrics and assigning clients to team members. Firm adds the practice CRM, time tracking, firm billing with service packages, profitability, exception detection (duplicates and unusual amounts), custom permission profiles, white-label and priority support. Plans: Connect (free, 1 seat (the owner)), Practice ($15.50/month, or $13.95/month billed yearly, $167.40 a year, 10% less, up to 4 seats (owner + 3)), Firm ($49.50/month, or $44.55/month billed yearly, $534.60 a year, 10% less, up to 11 seats (owner + 10, contact us for more)). Client fiscal50 licences at partner prices: retail less 15% to 30% depending on licences held. Partner program: 20% revenue share for 12 months per referred or client-paid company, 25% for Gold partners with 10+ active clients, paid through Stripe Connect. Security: two-step sign-in on every account, 30-minute idle sign-out, single-use recorded links to open client books, read-only access to fiscal50 data, and access levels (Full, Standard, View only) that the client controls and can end at any time. ### Bookkeeper Workspace plan comparison (connect | practice | firm) Clients and workspace: - Client companies: licence partner, client-paid and client-invited: Unlimited | Unlimited | Unlimited - Team seats: 1 seat (the owner) | Up to 4 seats (owner + 3) | Up to 11 seats (owner + 10, contact us for more) - Multi-client dashboard and one-click client switching: included | included | included - Cross-client work queue: included | included | included - Getting started checklists, integration health and client timeline: included | included | included - Two-step sign-in for every user: included | included | included - Learning, Academy guides and Academy certification: included | included | included - Ask Fifty for reports and analyses: included | included | included Month-end close and client collaboration: - Month-end close manager with reusable checklists: not included | included | included - Reviewer sign-off and month-end close packages: not included | included | included - Bookkeeping quality checks: negative and suspense balances, old uncleared items: not included | included | included - Predictive close readiness: not included | included | included - Client document requests and the client portal: not included | included | included - Automated client reminders: not included | included | included - Recurring service plans and templates with roll-forward: not included | included | included - Custom close checklists: not included | not included | included Insights and reports: - Client health scores and daily priorities: not included | included | included - Portfolio reports with Excel and PDF export: not included | included | included - Practice metrics: not included | included | included - Client-specific AI memory: not included | included | included - Exception detection: duplicates and unusual amounts: not included | not included | included - Team workload report: not included | not included | included - Audit log export: not included | not included | included - Service profitability: not included | not included | included Practice management: - Practice CRM: not included | not included | included - Time tracking: not included | not included | included - Firm billing with service packages: not included | not included | included Team and permissions: - Assign clients to team members: not included | included | included - Custom permission profiles: not included | not included | included - White-label client reports and portal: not included | not included | included Licences, partners and support: - Partner program: included | included | included - Licence volume discounts: included | included | included - Priority support: not included | not included | included ## fiscal50 Academy https://www.fiscal50.com/academy/ (sign in at https://academy.fiscal50.com/login/ with your fiscal50 username and password). Included with every fiscal50 plan; there is no separate sign-up. Totals: 126 tutor-led lessons (1953 slides, 357 quick checks), 126 user guides, 6103 quiz questions, 25 topic paths, about 19.5 hours of lessons. Lessons: one fiscal50 screen each; slides explain an idea, show the clicks to make in fiscal50, give tips or ask a quick check; a "Fields on this screen" table lists every field with its purpose, whether it is required, its rules and default; an Ask box answers from the fiscal50 guides. Quizzes: up to 15 questions per attempt drawn at random from the screen's bank (8 to 103 questions), pass mark 80%, unlimited retakes, an explanation for every answer. Practice quiz builder: pick screens and 5, 10, 15 or 20 questions. Bookkeeping from zero: 8 stages for owners new to bookkeeping (Accounting in plain English; Set up your books; Money coming in; Money going out; Banks to books — your weekly habit; Close the month; Read your reports; Year-end and your accountant). Certification: Banks to Books, Bank and card reconciliation, Journals and adjustments, Reports for month-end review, Month-end close; AI review (Fifty) for bookkeepers coming soon. Pass mark 80%, valid 24 months, verifiable at a public link. AI Assist questions a month: Starter 25, Business 50, Business Pro 100, bookkeeper and multi-company accounts 100, trial 20. Instant Answers are unlimited. Modules: - Getting Started (https://academy.fiscal50.com/modules/getting-started/): Sign up, configure the account, bring in your opening balances — with fiscal50's accounts or your own — and migrate your lists from QuickBooks. 4 lessons, 262 quiz questions, about 44 minutes. - Getting Around (https://academy.fiscal50.com/modules/getting-around/): Your dashboards, the header bar — fiscal year, approvals and alerts — and your profile menu. 6 lessons, 278 quiz questions, about 53 minutes. - Sales (https://academy.fiscal50.com/modules/sales/): Customers, invoices, payments in, proposals and checkout — everything under the Sales menu. 27 lessons, 540 quiz questions, about 158 minutes. - Expenses (https://academy.fiscal50.com/modules/expenses/): Vendors, bills, payments out, checks, payees, receipts and 1099s — the Expenses menu. 24 lessons, 1167 quiz questions, about 221 minutes. - Journal (https://academy.fiscal50.com/modules/journal/): Manual journal entries and the full transaction list. 3 lessons, 180 quiz questions, about 32 minutes. - Inventory (https://academy.fiscal50.com/modules/inventory/): Products, stock levels, sales and vendor orders, inventory reports. 8 lessons, 368 quiz questions, about 70 minutes. - Assets (https://academy.fiscal50.com/modules/assets/): Fixed assets and depreciation. 2 lessons, 126 quiz questions, about 21 minutes. - Banks (https://academy.fiscal50.com/modules/banks/): Bank and card accounts, the bank feed, AI categorization, posting and corrections (Banks to Books). 11 lessons, 655 quiz questions, about 122 minutes. - Apps (https://academy.fiscal50.com/modules/apps/): Third-party app integrations — Gusto payroll and Stripe payments. 2 lessons, 106 quiz questions, about 22 minutes. - Register (https://academy.fiscal50.com/modules/register/): The account register — one account's transactions with a running balance, quick entries and full entries. 1 lessons, 67 quiz questions, about 10 minutes. - Reports (https://academy.fiscal50.com/modules/reports/): Financial statements, comparisons, aging, statements and analysis reports. 28 lessons, 1720 quiz questions, about 311 minutes. - Configuration (https://academy.fiscal50.com/modules/settings/): Company setup, chart of accounts, users, locations, historical data, closing and your other companies. 9 lessons, 577 quiz questions, about 92 minutes. - Bookkeeper (https://academy.fiscal50.com/modules/bookkeeper/): For bookkeepers and firms: the bookkeeper login — licenses, clients, their books and yours. 1 lessons, 57 quiz questions, about 12 minutes. ## Help Guide Series ### Getting started (https://www.fiscal50.com/help/getting-started/) - Registration and opening entries setup: Sign up, choose a plan, pick your fiscal year and books start date, then enter opening bank balances, customers, vendors, assets, inventory and partner capital. - Account configuration: Choose between fiscal50’s pre-configured chart of accounts and your own, review system accounts and complete the setup checklist. - Configuration Agent: Upload a QuickBooks Online or Desktop chart of accounts with a trial balance or balance sheet. The agent detects the format, maps accounts, flags errors and creates bank and card records. - QuickBooks to fiscal50 migration: Export your chart of accounts and trial balance from QuickBooks, upload them to fiscal50, review the mapping and connect your banks. - Onboarding checklist and tour: Use the welcome checklist, the guided tour of the header menus and the onboarding video on your first login. ### Banks to Books (https://www.fiscal50.com/help/banks-to-books/) - Sync bank and credit card accounts: Connect accounts through Plaid, map each connection to a fiscal50 bank or card, reconnect a connection or switch it to manual upload. - Upload transactions manually: Import bank or card transactions from Excel or CSV for accounts that are not connected. - Pending transactions and AI recommendations: Review suggested categories, accounts, contacts and matches for each deposit and withdrawal, read the explanation behind each one and accept individually or in bulk. - Recorded to fiscal50: Review posted transactions, edit type, category, split or date, reclassify in bulk with Editable Mode, view the journal entry, attach files or send an entry back to pending. - Modify and delete transactions: Change or remove a recorded transaction, or remove a transaction from the bank feed entirely. - Credit card expenses and refunds: Book card expenses and refunds, and let card payments from your bank be recorded automatically. - Bank reconciliation: Use the reconciliation hub, run auto-reconciliation, set card statement cycles and reconciliation start dates, and read the period reports. - Bank register: See every transaction affecting a bank account in register order with running balances. ### Sales (https://www.fiscal50.com/help/sales/) - Create invoice: Add products and services, taxes, shipping, customer credits and attachments, then save, send or download. - View all invoices: Find, filter, send reminders, duplicate, refund, process returns, resend payment links and view an invoice as your customer sees it. - Invoice setup: Set invoice numbering and choose among the invoice email formats. - Retainer invoice: Bill a retainer up front and apply it to later invoices. - Scheduled invoices: Create recurring invoices that generate and email on a daily, weekly, monthly or yearly schedule. - Proposals: Build a proposal, send a secure approval link, let the customer approve or decline, then convert it to a one-time, recurring or progressive invoice. - Checkout: Create reusable payment pages with one or more items, share them as a link or QR code, take payments on the spot and track collections. - Online payments setup: Connect Stripe from fiscal50, wait for verification, map Stripe balance and fees, and view payouts. - Customer payments: Record full, partial and multiple-invoice payments with discounts, withholding, overpayments and other payments. - Customer management: Add customers and use each customer’s dashboard, ledger, timeline, statements and advances. - Service management: Maintain the list of products and services you sell. - Sales tax setup: Create the sales tax rates you charge and assign them to items and invoices. - Income: Record income that does not come from an invoice. - Sales dashboard: Track revenue, pending invoices, credits and amounts due. ### Expenses (https://www.fiscal50.com/help/expenses/) - Vendor bills: Record regular, inventory and capital expense bills, and schedule recurring bills. - Bill and receipt uploads: Upload files or email bills and receipts to your fiscal50 inbox for recording. - Vendor payments: Pay one or several bills, and use Make Other Payment for checks not tied to a bill. - Vendor advances: Record money paid to a vendor in advance and apply it to later bills. - Expense payments: Review every expense payment in one list. - Vendor management: Add vendors and use each vendor’s dashboard, ledger and timeline, including the 1099 tracking switch. - Payee management: Set up payees as vendors, employees, tax agencies or others. - Expense categories: Create and organize the categories your spending is grouped by. - Check printing: Choose your check stock, align fields with the live preview, and print single checks or a batch as one PDF. - 1099 filings: Track vendors for 1099-NEC, review the compliance check, print Copy B and export in filing-service layouts. - Expenses and payables dashboard: See what is due, overdue and paid. ### Journal (https://www.fiscal50.com/help/journal/) - Add journal entry: Create a balanced journal entry, or import journal entries and bank journal entries from a file. - View journal entries: Search, open and edit journal entries. - All transactions: See every transaction in the company across modules. ### Inventory (https://www.fiscal50.com/help/inventory/) - Inventory dashboard: Review sales activity, top sellers and stock in versus stock out, and add or import items. - Current inventory: Edit prices and reorder thresholds inline and adjust for shrinkage or promotional use. - Sales orders: Manage orders to ship, including normal and damaged returns. - Vendor orders: Track purchase orders and receive inventory. - Inventory value report: See the value of stock on hand. - Sales report: See what sold, when and for how much. - Inventory returns: Track returned items. - Item stock history: Follow every movement of a single item. ### Assets (https://www.fiscal50.com/help/assets/) - Asset management: Set up assets and record maintenance, sales, write-offs and depreciation, with a transaction history for each. - Depreciation report: Review depreciation by category and date range. ### Reports (https://www.fiscal50.com/help/reports/) - Balance sheet: Run single or multi-column balance sheets by day, week, month, quarter or year, with change columns. - Income statement: Run profit and loss, filtered by location or special category. - Income statement comparison: Compare locations or categories in side-by-side columns. - Cash flow: See cash in and out by operating, investing and financing activity. - Trial balance: Check that debits equal credits for any date range. - General ledger: Review and export the general ledger and sub-ledgers in three Excel layouts. - Historical balance sheets: Keep and compare prior-year balance sheets from before your books started. - Aging AR summary: See what customers owe by age. - Aging AP summary: See what you owe vendors by age. - Cost of goods sold: Review the cost of items sold. - Working capital: Measure current assets against current liabilities. - Working capital to total assets: Compare working capital with total assets. - Revenue report: Analyze revenue over time. - Expenses report: Analyze spending over time. - Customer statement: Produce a statement of activity for a customer. - Vendor statement: Produce a statement of activity for a vendor. ### Configuration (https://www.fiscal50.com/help/configuration/) - Chart of accounts: View user and system accounts, add accounts and import in QuickBooks Desktop or fiscal50 format. - General settings: Configure reports, batch jobs and approval workflows. - Sub users: Add users and set add, view, modify and cancel access by module and feature. - Company logo and shipping addresses: Brand invoices and receipts and store shipping addresses. - Locations and special categories: Create locations, departments, projects or classes for reporting. - Month-end and year-end closing: Review pending items, reconcile and lock a month or a full year. - Historical balance sheets upload: Upload prior-year trial balances or balance sheets, map accounts and attach supporting documents. - Companies: Add companies under your login, switch between them and manage their subscriptions. ### Approvals and alerts (https://www.fiscal50.com/help/approvals/) - Approvals: Approve or edit pending recurring invoices and bills, deferrals, depreciation, invoices, bills and payments, one at a time or all at once. - Scheduled activity and alerts: Review the Needs your attention list and the full alerts and transactions screen. ### Dashboards and account (https://www.fiscal50.com/help/dashboards/) - Application dashboard: Use the main dashboard and its shortcuts with the month picker. - Income dashboard: Track income at a glance. - Customer and vendor dashboards: See balances and activity for contacts. - fiscal50 support: Open a support case, read replies and respond. - Billing: View payment history and receipts, add a card, change plans with prorated charges or cancel. - Change password: Update your password. ### App integrations (https://www.fiscal50.com/help/integrations/) - Gusto payroll (CSV upload): Upload Gusto’s Full Summary Report as a CSV, review the payroll journal entry fiscal50 builds, then post it. - Stripe integration: Choose a Stripe account, set recording preferences for balance, fees and income, and let transactions sync. - QuickBooks IIF payroll import: Import payroll journal data from a QuickBooks IIF file. ### Bookkeepers (https://www.fiscal50.com/help/bookkeepers/) - Bookkeeper Workspace: Register at bookkeepers.fiscal50.com, add clients as a licence partner, client-paid or client-connected company, open their books with Log in, and keep your own books in My books. - Portfolio reports and licences: Review portfolio health, month-end completion, client activity and licence utilization, and buy or assign client licences. - Maven PMP help guide: Use Maven PMP practice management alongside fiscal50 client books. ## Frequently asked questions ### About fiscal50 Q: What is fiscal50? A: fiscal50 is AI-powered bookkeeping and accounting software for small businesses and bookkeepers. It syncs bank and credit card feeds, recommends and explains how each transaction should be booked, posts double-entry journal entries, reconciles accounts and produces financial statements. Invoicing, bills, inventory, fixed assets, 1099 tracking and month-end close are built in. Q: Who is fiscal50 for? A: Startups and small and medium-sized businesses that want accurate books without manual data entry, and bookkeepers and accounting firms that manage books for many clients. It supports sole proprietors, partnerships, LLCs, corporations, S corporations and non-profits. Q: Do I need to be an accountant or bookkeeper to use fiscal50? A: No. fiscal50 is built for business owners at any level of accounting knowledge. AI recommendations explain themselves, the built-in assistant answers how-do-I questions on every screen, and the fiscal50 Academy teaches each feature with short lessons and quizzes. Q: Is fiscal50 a QuickBooks alternative? A: Yes. fiscal50 covers core small business accounting, adds explainable AI bookkeeping, and imports a QuickBooks Online or Desktop chart of accounts and trial balance during setup. Q: How is fiscal50 related to Maven Systems? A: Maven Systems offers bookkeeping courses and Maven PMP practice management for independent bookkeepers. fiscal50 and Maven PMP are integrated so a bookkeeping practice can run client management and client books together. ### AI and automation Q: How does fiscal50 use AI? A: In Banks to Books, AI recommends the customer or vendor, the category and the account for each bank and card transaction, and matches deposits and withdrawals to open invoices and bills. It learns from how you recorded similar transactions. AI agents auto-reconcile your accounts month after month once the predicted ending balance agrees with the bank. AI also powers Fifty, the assistant on every screen, and the Configuration Agent that imports your QuickBooks accounts. Q: Will the AI post entries without me? A: No. Recommendations are pre-selected but nothing reaches your books until you click Post, post the page or queue a batch. Anything posted can be corrected later from the Recorded to fiscal50 tab, one at a time or in bulk. Q: Can I see why a transaction was categorized a certain way? A: Yes. Every recommendation comes with its explanation: the reason, a confidence score and the evidence behind it, such as the number of prior transactions it learned from. Q: What can Fifty, the AI accountant, do? A: Answer how-to questions from the fiscal50 guides with a Take me there button that opens the screen, read figures such as revenue or a balance sheet from your books, and, on Business and Business Pro, create invoices, bills, payments and other records from the chat after you confirm a summary. ### Pricing and plans Q: How much does fiscal50 cost? A: Starter is $5.50 a month, Business is $19.50 a month and Business Pro is $30.50 a month. Paying yearly costs $59.50, $210.50 and $329.50 respectively. Q: Is there a free trial? A: Yes. The Starter plan’s first month is free and no credit card is required. Q: Can I change plans later? A: Yes. Upgrade or downgrade from Billing in your account menu; charges are prorated. Q: How do bookkeepers pay for client companies? A: Three ways, all in the free-to-start Bookkeeper Workspace: buy the client’s licence at partner prices (15% to 30% off retail), set up clients who pay fiscal50 directly while the firm earns a revenue share, or be connected by a business already on fiscal50 with the firm’s connect code. ### Data and security Q: Is my data secure on fiscal50? A: Bank and card accounts link through Plaid, every user has their own sign-in with permissions set feature by feature, and vendor and payee Social Security numbers are encrypted when saved, kept in a separate secure vault and shown masked to the last four digits. Closed periods are locked. Q: Can I move data from other software into fiscal50? A: Yes. Import a chart of accounts and trial balance or balance sheet from QuickBooks Online or Desktop, import transactions from Excel or CSV, and keep prior years as historical balance sheets. Q: Can I work with my accountant in fiscal50? A: Yes. Give your accountant or bookkeeper their own login, or let a bookkeeper using the fiscal50 Bookkeeper Workspace manage your books. Q: Can I export my data? A: Yes. Reports export to Excel, the general ledger and sub-ledgers export in three layouts, and 1099 data exports to CSV. ### For bookkeepers and firms Q: Which software helps a bookkeeper close the books for multiple clients faster? A: The fiscal50 Bookkeeper Workspace puts every client’s month-end on one close board. On the Practice and Firm plans you start the month for all clients in one click, the checks (Banks to Books empty, accounts reconciled, nothing posted after reconciliation, approvals cleared) tick themselves from fiscal50 data, and a second person signs off. fiscal50 then locks each closed month. Q: Can a bookkeeper manage many client companies with one login? A: Yes. The Bookkeeper Workspace lists every client company under one login, and Log in opens that client’s own fiscal50 in a new tab without a shared password. The bookkeeper can buy the client’s licence at partner prices, the client can pay fiscal50 directly, or a business already on fiscal50 can connect its bookkeeper with a connect code. Connect, the first Workspace plan, is free. Q: How does a bookkeeper review AI-categorized transactions in fiscal50? A: In Banks to Books, AI pre-selects a recommendation for each bank and card transaction with a reason, a confidence percentage and the evidence it used. The bookkeeper accepts it or picks something else, then clicks Post. Nothing posts on its own, and each posted transaction is a balanced double-entry journal entry. Q: How do I move a client from QuickBooks to fiscal50? A: Upload the client’s QuickBooks Online or Desktop chart of accounts with a trial balance or balance sheet. The configuration agent matches accounts by name, checks that debits equal credits and shows errors and warnings before you choose Approve & Import. Transaction history is not migrated. Q: What is the difference between built-in AI bookkeeping and an AI add-on? A: In fiscal50 the AI recommendations sit inside the ledger: each recommendation is made in Banks to Books, posted as a journal entry in the same books and reconciled there. An add-on tool works in a separate app and sends its results to the accounting software through an integration. ## Glossary - 1099-K: An IRS information return issued by card processors and payment platforms for payments they handled. Payments you make by card are generally reported on 1099-K rather than 1099-NEC. In fiscal50: Card payments are excluded from 1099-NEC tracking by default. - 1099-NEC: An IRS form reporting nonemployee compensation paid to independent contractors and other vendors above the year’s reporting threshold. In fiscal50: Flag a vendor for 1099 tracking and fiscal50 builds the year-end report, checks for missing details and exports or prints Copy B. - Accounts payable: Money a business owes to vendors for goods and services received but not yet paid for. In fiscal50: Vendor bills create payables; the Aging AP summary shows what is due by age. - Accounts receivable: Money customers owe a business for goods or services already delivered. In fiscal50: Invoices create receivables; the Aging AR summary shows what is outstanding by age. - Accrual basis: An accounting method that records income when earned and expenses when incurred, regardless of when cash moves. In fiscal50: Reports and exports can be switched between accrual and cash basis. - ACH payment: An electronic bank-to-bank transfer in the United States through the Automated Clearing House network. In fiscal50: Customers can pay invoices and checkout pages by US bank account through Stripe. - Balance sheet: A financial statement listing what a business owns (assets), owes (liabilities) and the owners’ stake (equity) on a given date. Assets always equal liabilities plus equity. In fiscal50: Run single or multi-column balance sheets by day, week, month, quarter or year. - Bank feed: An automatic, ongoing import of transactions from a bank or card account into accounting software. In fiscal50: Bank feeds come through Plaid and arrive in Banks to Books with AI recommendations. - Bank reconciliation: Comparing the transactions and ending balance in your books with a bank statement to confirm they agree and explain any differences. In fiscal50: Auto-reconciliation predicts each period’s ending balance, checks it against the bank and reconciles month after month until something needs you; you can also reconcile any period yourself. - Cash basis: An accounting method that records income when cash is received and expenses when cash is paid. - Cash flow statement: A financial statement showing cash coming in and going out from operating, investing and financing activities over a period. - Chart of accounts: The organized list of every account a business uses to record transactions, grouped into assets, liabilities, equity, income and expenses. In fiscal50: Start with fiscal50’s pre-configured chart or import your own from QuickBooks. - Closing the books: The process at the end of a month or year of making sure every transaction is recorded and reconciled, then locking the period so the reported numbers do not change. In fiscal50: A checklist lists pending items, reconciliation is required, and closed periods are locked. - Cost of goods sold (COGS): The direct cost of the products a business sold during a period. In fiscal50: COGS is recorded as inventory items sell. - Deferred revenue: Money received for goods or services not yet delivered. It is a liability until earned. In fiscal50: Retainers and deferred income are recognized over time by scheduled processing. - Deferred expense: A cost paid in advance, such as annual insurance, that is expensed over the periods it covers. - Depreciation: Spreading the cost of a long-lived asset over its useful life as an expense. In fiscal50: Depreciation runs automatically every month and year. - Double-entry bookkeeping: The system in which every transaction is recorded in at least two accounts, with equal debits and credits, so the books always balance. In fiscal50: Every bank transaction, invoice, bill and payment posts as a balanced double-entry journal entry. - Fixed asset: Long-term property a business uses to operate, such as equipment, vehicles or buildings. - General ledger: The complete record of every account and every transaction posted to it. In fiscal50: Drill into any account from a report and export the ledger to Excel. - Income statement: Also called profit and loss. A financial statement showing revenue, expenses and net income over a period. - Journal entry: A record of a transaction showing the accounts debited and credited and the amounts. - Opening balance: The balance of each account on the date your books begin in a new system. In fiscal50: Upload a trial balance or balance sheet as of your start date, or enter opening entries by hand. - Progressive invoicing: Billing a project or approved proposal in parts over time, such as a deposit followed by milestone installments. - Retainer invoice: An invoice for an advance payment that is applied to future work. - Sub-ledger: A detailed ledger for one account or group, such as a single bank account or customer, that rolls up into the general ledger. - Transaction categorization: Assigning each bank or card transaction to the right income or expense account. In fiscal50: AI recommends a category with a confidence level and explanation. - Trial balance: A list of every account with its debit or credit balance at a point in time. Total debits must equal total credits. - Working capital: Current assets minus current liabilities, a measure of short-term financial health.