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Business Spending Report with Budget Watch — Frequently Asked Questions

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General Questions About Business Spending Report with Budget Watch

Questions About Setting Up and Monitoring Budget Watch Goals

Questions About Business Spending Report with Budget Watch Features

Questions About Transactions Within Business Spending Report with Budget Watch


General Questions About Business Spending Report with Budget Watch

1. Is there a fee for the Business Spending Report with Budget Watch?
The Business Spending Report with Budget Watch is free for Wells Fargo Business Online® customers who have a Wells Fargo checking account or credit card.Back to Top
2. What Wells Fargo accounts are eligible for the Business Spending Report with Budget Watch?
Eligible accounts include consumer and business credit card, debit card, and checking accounts that are accessed through Business Online Banking. Business Bill Pay transactions will also be tracked by Business Spending Report with Budget Watch.Back to Top
3. How often is the Business Spending Report with Budget Watch updated?
The Business Spending Report with Budget Watch is updated each business day.Back to Top
4. Does the Business Spending Report with Budget Watch replace my current credit card or checking account statements?
No, Business Spending Report with Budget Watch does not replace your current credit card or checking account statements. This is a supplemental report that is meant to provide you with a combined overview of your expenses.Back to Top
5. How are you protecting the privacy and security of the transaction information?
Your transactions in Business Spending Report with Budget Watch can only be viewed by you, the account owner. Wells Fargo can research specific transactions if you call customer service with questions, but we do not have the ability to view your categorized information as it appears in Business Spending Report with Budget Watch.

For more information, please read about our commitment to Privacy and Security.Back to Top
6. Why doesn’t the information in Business Spending Report with Budget Watch match the reporting on my QuickBooks® or other financial management software?
Business Spending Report with Budget Watch uses Wells Fargo-defined categories, and only includes purchases and payments from your Wells Fargo credit card, debit card, checking account, and Business Bill Pay service. Financial management software like QuickBooks® can include a broader picture of your finances, such as savings and other liability accounts.Back to Top

Questions About Setting Up and Monitoring Budget Watch Goals

7. What is Budget Watch?
Budget Watch allows you to create a simple online budget in just minutes. Updated each business day, Business Spending Report with Budget Watch provides you with daily Money In and Money Out flows, so you can see how close you are to meeting your business budget goals.

With Budget Watch, you can also:
  • Monitor your progress with customized charts and graphs that help you compare your spending and overall performance to your business budget goals.
  • Periodically adjust your Budget Watch goals to better align them with your spending patterns and help keep you on track with your budget now and in the future.
  • Set up optional email alerts to help you stay on top of your business spending.
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8. How do I create Monthly Goals using Budget Watch?
Using your historical spending patterns as a guide, you can set Monthly Goals. Budget Watch offers two different ways to create your Monthly Goals:
  • Take a shortcut – from the pre-fill drop down, select either Average monthly spending or Last month’s spending and click Continue to automatically copy the selected amounts in the Monthly Goals column in the budget entry screen. If you identify categories where you could spend less, or need to spend more, you can always edit the amount you set aside for individual categories.
  • Enter your goals by hand – from the pre-fill drop down, select Custom numbers and proceed to the budget entry screen where you will be able to click on a category to expand and type in amounts for individual sub-categories. Budget Watch will total your changes automatically. Create a goal for each category or address only a few key categories – the choice is yours.


Once you’re satisfied with the Monthly Goals you’ve created, click Save to view your Budget Watch as part of your Business Spending Report and see how your goals compare to your actual spending for the month.Back to Top
9. Can I update or delete my Budget Watch Monthly Goals?
Budget Watch goals are easy to change. Simply:
  1. Click Edit Budget at the top of the Budget Watch tab.
  2. Make any adjustments to the amounts you have budgeted for each category by clicking into the master category and editing the sub-categories directly. Your totals will be added up automatically. If you would like to update all your categories at once to better reflect your more recent spending, click on the Reset dropdown and select from Average monthly spending or Last month’s spending. Selecting Custom spending amounts will reset your budget values to zero.
  3. Click Save.


To exclude Budget Watch Monthly Goals from Business Spending Report and view your spending compared to your historical averages, click Standard Report tab at the top of your report.Back to Top
10. What is the meaning of the amount listed as What’s Left?
The Budget Summary section at the top of your report provides a summary of your Money Out subtracted from your Money In, resulting in What’s Left. The amount you have listed as What’s Left is an approximation of your monthly net inflows and outflows, which is the difference between your total deposits and total spending at the end of each month (versus the Available Balance found on your Account Activity screen, which is how much you actually have in your account). Note: What’s Left amounts will differ for Wells Fargo credit customers, since credit card spending is automatically included in the Business Spending Report (unless you choose to exclude it).

The amount you have listed as What’s Left can be a valuable indicator of how much money you have remaining on a monthly basis to apply toward long-term financial goals like paying down loans, reinvesting in your business, or funding a new project. If the amount you have listed as What’s Left each month is less than zero, this suggests that you may be spending more than you have coming in each month. If you would like to learn more about the ways in which you can increase What’s Left each month, start paying down debt, or build your savings, please call us at 1-800-869-3557 or talk to a banker at your nearest Wells Fargo location.Back to Top
11. How do I set up Budget Watch email alerts?
With optional Budget Watch email alerts, we let you know when your spending is at 75% of your budget, tell you when you’ve gone over your budget, or provide a status report of your mid-month spending.

To set up email alerts, simply click the Set up Alerts button on the Budget Watch tab, or visit the Messages & Alerts tab.Back to Top

Questions About Business Spending Report with Budget Watch Features

12. How much spending history is available in Business Spending Report with Budget Watch?
The current month-to-date, the prior two months, and an average of up to your last 12 months of spending are displayed in the Standard Report screen. The Budget Watch tab displays your historical spending set against your Monthly Goals. An additional 15 months of history can be displayed on screen by clicking on the month toggle arrow.

From January to June of each year, you can download a Year End Summary report for the prior calendar year spending either as an Excel worksheet or a PDF file. At any time, you can download your categorized spending history report in either Excel or PDF format if you have less than 10,000 total transactions. Transactions in the downloadable reports will be automatically sorted by category and date. Back to Top
13. Can I view Business Spending Report with Budget Watch by payment method?
Business Spending Report with Budget Watch defaults to include spending from any account you access via Wells Fargo Business Online, including: Wells Fargo credit card, debit card, checking account, and the Business Bill Pay service.

To temporarily change your view to include just one payment method, simply select Credit Cards, Debit Cards, Other Checking Activity, or Bill Pay from the drop-down menu at the top of the Standard Report screen and click Go.Back to Top
14. Can I view my spending activity for specific accounts?
The default view for Business Spending Report with Budget Watch includes all your eligible accounts. To change your future view to include spending from specific accounts, simply click Edit Accounts in the Accounts Included in Your Report box in the top right of the page and select only the accounts you wish to include. You can customize up to 30 accounts. The selection you make will remain in effect for your current Business Online Banking session.Back to Top
15. My business partner and I have the same Wells Fargo credit card account. Can I view just my spending activity on that credit card?
Yes, you can choose which accounts appear in the Year End Summary and Spending History reports in two ways. To include specific accounts in the download, use the Edit Accounts feature in the Accounts Included in Your Report box.

Or, to view a downloadable report by payment method — e.g., Credit Cards, Debit Cards, Other Checking Activity, or Bill Pay — simply select the payment method from the drop-down at the top of the screen, click Go, and then click the link in the downloads section. Back to Top
16. Can I choose which accounts to include in the download reports?
Yes, you can choose which accounts appear in the Year End Summary and Spending History reports in two ways. To include specific accounts in the download, use the Edit Accounts feature in the Accounts Included in Your Report box.

Or, to view a downloadable report by payment method — e.g., Credit Cards, Debit Cards, Other Checking Activity, or Bill Pay — simply select the payment method from the drop-down at the top of the Standard Report, click Go, and then click the link in the downloads section. Back to Top
17. Can I print or save Business Spending Report with Budget Watch?
You can print the report in one of two ways. To print the page you are viewing, select print from your browser menu. If necessary, adjust your browser’s default margin settings first. Or, you can download a Year End Summary or Spending History report in PDF format and print it using Adobe® Reader® version 4.05 or later, which you can download for free.

The Year End Summary and Spending History reports are also available in Excel format.Back to Top

Questions About Transactions Within Business Spending Report with Budget Watch

18. What types of transactions are included in Business Spending Report with Budget Watch?
Business Spending Report with Budget Watch includes your Money In and Money Out. Your Money In includes any deposits, transfers, or advances made into your account. Your Money Out represents any transactions that are considered spending or payments from your Wells Fargo credit card, debit card, checking account, and Business Bill Pay service along with transfers to other Wells Fargo and external accounts.

The Summary section at the top of your report provides a summary of your Money Out subtracted from your Money In, resulting in What’s Left, which is approximately how much you have left at the end of each month. Your What’s Left figure is one indicator of how much you may have available to start paying down debt, reinvesting in your business, or funding a new project.Back to Top
19. How are you able to categorize card transactions?
Visa and MasterCard have assigned every merchant to a specific category or classification. When you make a purchase, Wells Fargo receives this classification information along with information about your purchase, and we use this classification to categorize your transaction. If a merchant is a large company with many different departments, we cannot specify the department from which the item was purchased.Back to Top
20. How are you able to categorize Bill Pay transactions?
We have assigned Bill Pay payees to default Wells Fargo spending categories. If we are unable to determine a default category for the payee, we will classify the payments based on the category you choose in Business Bill Pay when setting up the payee or making the payment. You can always create a user-defined rule in the transactions screen to set a default payee if you prefer a different default category.Back to Top
21. What are Uncategorized Payments transactions?
Uncategorized Payments transactions are transactions that we are unable to assign to a category because the payee is either unavailable or can’t be assigned to a default category. At this time, we can’t assign some paper checks and electronic payments in the merchant categories.Back to Top
22. Why are Wells Fargo credit card payments excluded from my Total Spending?
Wells Fargo credit card payments are excluded from your Total Spending because by including both your credit card purchases and payments to your credit card for those same purchases may result in an overstatement of your Total Spending. Back to Top
23. What is included in the Checks Written category?
Many checks written to large merchants are processed as ACH payments. We are able to categorize those checks based on the merchant’s line of business or keywords in the transaction description. For those checks that are written to individuals or smaller merchants, we are unable to assign a payee to the transaction. We classify those transactions in the Checks Written category. You can re-categorize these payments individually in the Transactions screen. If you’d like to assign a default category to check payments of a specific dollar amount for recurring check payments, you can create an amount-based user-defined rule in the Transactions screen.

The Checks Written category may include payments to your Wells Fargo credit card. As a result, your total spending in a given month may be overstated. Your Total Spending displayed within a month would include both your transactions made with your Wells Fargo credit card as well as any payments to your Wells Fargo credit card made from your Wells Fargo checking accounts to pay off those transactions. Back to Top
24. What is included in the Electronic Payments category?
Electronic Payments includes transactions that are processed electronically but cannot be classified in a specific category.

You can re-categorize these payments individually in the Transactions screen. If you’d like to assign a default category to a recurring Electronic Payment, you can create a user-defined categorization rule in the Transactions screen.Back to Top
25. Why don’t all of my transactions appear in the downloadable reports?
If you are new to Business Online Banking, or if you have added or removed accounts from Business Online Banking, older transactions may not be available to Business Spending Report with Budget Watch. For example, if you are a new Business Online Banking customer, you will only have transaction history available for a period of up to 90 days prior to the date that you link an account for Business Online Banking.

When you download a report from a payment method screen (Credit Cards, Debit Cards, Other Checking Activity, or Business Bill Pay) it will only include transactions for that payment method.Back to Top
26. One of my accounts has been replaced by a new one. How will the transactions be displayed?
If one of your accounts is replaced by a new one, the transactions you made on the old account will continue to be displayed in Business Spending Report with Budget Watch. However, the transactions from the old account will be associated with the new account.Back to Top
27. Can I have a transaction reclassified into a different category?
Yes. Select Manage Transactions on the Standard Report or Budget Watch screen to view all transactions for the time periods currently in the summary view. From there, you can select the category drop-down on a specific transaction and choose a new subcategory. Alternatively, you can click any of the dollar amounts to see a filtered view of the transactions for that category and month and re-categorize the transactions using the drop down in the transaction. Back to Top
28. Can I change the default categorization for a payee so I don't have to individually re-categorize each transaction I make to that payee?
Select a specific transaction in the Transaction screen and click Create a Rule. You can choose to apply all transactions of a certain payee to a particular category.

Note: All transaction rules can be applied to either future transactions only or past and future transactions. If you apply the rule to past and future transactions, you have the option to exclude historical transactions that you individually re-categorized.Back to Top
29. How do I change the default categorization for a transaction that does not have a payee?
Select a specific transaction in the Transaction screen and click Create a Rule. You can choose to apply all transactions of a certain amount to a particular category.

Note: All transaction rules can be applied to either future transactions only or past and future transactions. If you apply the rule to past and future transactions, you have the option to exclude historical transactions that you individually re-categorized.Back to Top
30. How will my transactions display if my business debit card is linked to my consumer checking account?
Transactions made with eligible business and consumer accounts are included in Business Spending Report with Budget Watch, so purchases made using your business debit card will be displayed.Back to Top
31. I noticed a transaction on Business Spending Report with Budget Watch that I do not remember making. What should I do?
If you have any questions about any individual transactions on Business Spending Report with Budget Watch, please contact Wells Fargo.
  • For questions concerning a transaction on your Wells Fargo credit card, please call 1-800-642-4720.
  • For questions concerning a transaction from your Wells Fargo checking account, please call 1-800-TO-WELLS (1-800-869-3557).
  • For questions regarding a transaction on your business accounts, please call the National Business Banking Center at 1-800-225-5935.
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