Using HoneyBook Finance FAQ

Learn what to do now that you've joined the beta

Updated over a week ago

📣 Note

This article covers a feature that's included in an invite-only closed beta. If you're not a part of the beta, your finance suite will look different, and the help articles you'll want can be found here.

HoneyBook Finance lets you manage your finances where you manage your business.

Got a beta invite! Here's how to join...

You'll need about 10 minutes to fill in the form.

To fill out the application:

1. Go to the Finance tab in the top navigation menu.

2. Select Start Now.

3. Fill out the application with your personal and business info, and upload an official ID.

You'll get an email within one business day letting you know that processing is done.

  • When completing your application, you can add your bank account details so they're available if you want to transfer funds to your external bank account.

  • Enter the same bank details you already use in HoneyBook

  • If you want to update or add new bank details, contact support

What do I get with HoneyBook Finance?

You'll get new ways to better manage your business funds and understand your cashflow:

  • HoneyBook business checking account where you'll see your payments

  • Physical and virtual debit cards for business expenses

  • Access to funds within 24 hours

  • Automatic expense categorization whenever you use your HoneyBook debit card

  • Insights into business and project expenses that can influence how you price your services

  • Automatic tax-saving so you don't have any surprises at tax time

  • No-cost instant deposits that get client payments into your account faster

What is my available balance?

Your HoneyBook Finance business checking account shows your current available balance. Deposits and debits appear in your list of account transactions:

  • Deposits:

    • Client payments

    • Capital loan funds

    • Transfers from a savings bucket (like your tax savings bucket)

  • Debits:

    • HoneyBook debit card expenses

    • Money transfers to external bank accounts

Why should I get a HoneyBook debit card?

A dedicated business debit card has multiple benefits that are both convenient and can improve your financial management.

  • Same-day access to client payments

  • Cashflow management: Expense tracking, project worth, cashflow insights

  • Simplifies bookkeeping when personal and business expenses are separated

  • Convenient and flexible way to access funds: Physical/online purchases, ATM withdrawals

Using your debit card

  • Maximum daily purchase limit: $5,000 USD

  • Maximum daily ATM withdrawal limit: $1,000 USD

    • You can only withdraw $400 USD per ATM session, whereas your total daily withdrawal limit is $1,000 USD. If you want to withdraw more, you'll need to use the ATM machine multiple times.

What financial insights will my debit card give me?

Using your HoneyBook debit card for business expenses gives you valuable financial insights that can directly affect your business decisions.

Expense tracking

Expenses paid with your HoneyBook debit card—physical or virtual—are debited from your available balance and are automatically categorized so you can track where your money is going. Learn more about debit card expense categories.

Recorded transactions make it easier to monitor and categorize expenses for budgeting, accounting, and tax purchases.

Project worth

Client payments are auto-connected to a project. By connecting related expenses to the same project, you get real-time project worth: net client payments minus business expenses paid with your HoneyBook debit card or otherwise assigned to that project.

You'll get a comprehensive understanding of the profitability and success of individual projects. With this information, you can:

  • Assess the financial viability of your projects

  • Identify areas if improvement in your processes

  • Make data-driven decisions to optimize resource allocation and maximize project profitability

As a business owner, you can make informed choices and strategically steer your projects towards long-term success.


At a glance, your Finance Dashboard shows your net revenue for the last 30 days: net client payments minus business expenses paid with your HoneyBook debit card or otherwise assigned to the project.

This valuable information lets you effectively manage your business finances:

  • Gauge your cash inflow and outflow

  • Assess your business' financial health and profitability

  • Plan for future expenses

  • Make informed decisions about investments, expansion, and cost-saving measures

Getting a clear picture of your net revenue cashflow ensures the stability and sustainability of your business while optimizing financial strategies for long-term success.

Why should I create a tax savings bucket?

This is a strategic and proactive approach to tax planning that minimizes your tax liability and can create financial savings.

You can automatically save a percentage of every payment based on your own chosen percentage (which ideally matches your expected income tax rate).

You have complete control over your savings bucket.

  • Automatically save a percentage of every payments

  • Temporarily stop saving and keep the money in your tax bucket

  • Transfer the entire amount to your available balance but keep saving

  • Transfer the entire amount to your available balance and stop saving (you can restart at any time)

How do I get paid in HoneyBook Finance?

It's very simple! Your net client payments are deposited directly into your HoneyBook Finance business checking account—they make up part of your available balance.

Calculating net client payments

Your net client payment is reached after these deductions are made:

  • Capital loan repayments (if you have a Capital loan)

  • A percentage for a tax savings bucket (if you've set one up)

  • Taxes

  • Reimbursements/refunds (if you owe any)

How do I transfer money to external accounts?

You can get paid, make payments, save for taxes, create savings buckets, and more all in HoneyBook—and this gives you actionable cashflow insights.

But, when needed, you can easily transfer money to an external bank account.

To transfer money:

1. Go to the Finance tab in the top navigation menu.

2. Select Actions → Select Transfer money.

3. Select the transfer's recipient.

a. You can add new recipients at the bottom of the drop-down menu. Learn more about adding new transfer recipients.

4. Confirm that the recipient's email is correct (if needed) Select Confirm Details.

5. Enter the transfer's amount and reason for transferring Select Next.

6. Review the transfer details Select Verify Your Identity.

7. Enter the 2FA code Select Verify Your Identity.

8. Select Done.

The money transferred will land in the recipient's account within 1–2 business days. If the funds are not received in that time, contact support by selecting the purple question mark (?) icon in the bottom-right corner of your screen.

Why are my funds no longer automatically transferred to my linked bank account?

When you joined HoneyBook Finance, you opened a business checking account, so now all client payments made to you will be deposited in your new checking account. But, when needed, you can easily transfer money to an external bank account.

Can HoneyBook Finance replace QuickBooks?

While HoneyBook Finance will help you manage your business and finances, QuickBooks is accounting software that you or your accountant may already be using and should continue to use. You can connect these two accounts together to send HoneyBook Finance transactions and money transfer data to QuickBooks.

You can also download account statements (as PDFs) and transaction spreadsheets (as CSVs) to load into QuickBooks instead of connecting the accounts.

To download your account statements:

1. Go to the Finance tab in the top navigation menu.

2. Select the 3-dot iconStatements & documents → Pick a year.

3. Select the Download button next to the months you want to download.

Can team members access the HoneyBook Finance dashboard?

Right now, only the business owner can view the HoneyBook Finance dashboard.

Can I get checks or a cashier's check for my HoneyBook Finance account?

Currently, both regular checks and cashier's checks are not available through HoneyBook Finance. If you need regular checks or get a cashier's check and want to use the funds in your HoneyBook Finance account, you'll need to transfer the funds into an external account.

How do I update my HoneyBook Finance account info?

To update your HoneyBook Finance account info, contact support.

To contact support:

1. Go to the question mark (?) icon at the bottom-right corner of your screen.

2. Select Contact support and send them a message.

Please note that transaction limits are hard limits and cannot be adjusted at this time.

Are there any payment limits?

While there are no payment limits, some payments can take longer to process. Here's how long each payment can take to post:

  • Credit card payments below $20,000 USD: immediately

  • Credit card payments above $20,000 USD: 2–3 business days

  • ACH payments below $20,000 USD: 4–5 business days

  • ACH payments above: $20,000 USD: 7–8 business days

What transaction limits should I be aware of?

Transaction limits relate money you transfer into and out of your HoneyBook Finance account, and any time you use your physical or virtual debit card to pay.

For money transfers:

  • Daily: $10,000 USD

  • Monthly: $100,000 USD

For purchases made with a HoneyBook Finance debit card:

  • Daily: $5,000 USD

    • This limit is shared between your virtual and physical debit card. For example, making a purchase with your physical card will count towards your virtual card's limit.

These are hard limits and they cannot be adjusted.

Will I get a 1099-NEC if I used my account to pay contractors?

No, you will not receive a 1099-NEC if you've used your HoneyBook Finance checking account to pay out any contractors. You should discuss with a tax professional to decide if you need to supply your contractors with a 1099-NEC as well as for help filling out and filing the form if it's needed.

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!

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