1Money going out
With Mercury connected, every settled payment that leaves your account (card payments, transfers, fees) appears at the top of Expenses as a payment to review, with a suggested category. Transfers between your own Mercury accounts and Treasury movements are left out.
Nothing counts until you confirm it: payments to review are not in your expense totals, reports or Form 5472. For each one you can:
- Confirm it as an LLC expense, changing the category if needed;
- record it as money you took out or a loan repaid to you (see below);
- ignore it if it is not an expense.
Confirm all confirms every payment in the list with the category shown.
2Category rules
When you confirm a payment, Invollc remembers the vendor and the category ("anything from Notion is Software & SaaS"). The next payment to that vendor arrives with that category already set. Tick Always to have those payments confirmed without asking. See and change your rules from the Rules button.
Before you have rules, Invollc suggests categories for well known vendors (AWS, Google, Notion, Airbnb, airlines and so on) from a fixed list. Nothing is decided by an AI model.
3Money you took out
A transfer from the LLC to yourself is not an expense. Mark it as Money I took out (an owner distribution) or Loan repaid to me, and Invollc adds it to the owner transactions on the Form 5472 page with its USD value.
4Bank reconciliation
In Reports → Bank reconciliation you see your Mercury balance now and, for each month, the money in, the money out and how many movements still need a decision. Money in is done when it is linked to an invoice or set aside on Payments; money out when it is confirmed, ignored or recorded as an owner withdrawal.
When a month has nothing left to review, click Mark as reconciled. If a new movement for that month arrives later, the month is flagged again so you can take another look.
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