Each time you use your HoneyBook debit card, a tax category will automatically be assigned to each expense, saving you time and maximizing your tax deductions.
To find the category for an expense:
In the top navigation menu, select Finance > Balance
Find the expense in the Transactions table. You'll see 2 category types:
Tax category: These categories refer to classifications used for determining the appropriate tax treatment of expenses and other financial activities
Transaction category: These refer to the classification of expenses or purchases made using your HoneyBook debit card and help individuals or businesses track and manage their spending categories
Since the categorization is automatic, you don't need to do anything. If you think an expense has been incorrectly tagged, you can always update it manually.
📣 Note
If you click an expense in the Transactions table, a side panel will appear showing the transaction status. If the status is pending, you won’t be able to assign a tax category to it until the transaction clears.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!
HoneyBook is a software company, not a bank. Banking services are provided by Lincoln Savings Bank, Member FDIC. HoneyBook Visa Debit cards are issued by Lincoln Savings Bank, Member FDIC. HoneyBook is not FDIC insured. FDIC insurance only covers the failure of an insured bank.