Connect QuickBooks Online to Abacus
Step 1: Authenticate the Integration
1. To connect your QuickBooks Online account to Abacus, the first step is to log in to your Abacus account and click the gear icon in the top left corner. Then, click Accounting Integration in the Company Settings sidebar.
2. Click Connect to QuickBooks, and then choose QuickBooks Online. Click the Connect to QuickBooks button that appears below:
3. Enter your admin credentials from QuickBooks Online, and then click Authorize.
Now that the connection to your Quickbooks is set up, you must configure the integration.
Step 2: Select a Default Expense Account
The next step is selecting a default expense account on the Accounting Sync settings page in Abacus. This is usually something like "miscellaneous" or "other" and will be used in the rare case that an expense does not have a Category selected, or if the Category selected is not mapped to an expense account.
After you map your Categories, each expense will be routed to the correct GL account from QuickBooks.
Step 3: Choose Your Sync Option for Corporate Card Transactions
Toggle Accounting Sync Settings off if you want corporate card transactions to sync automatically to QuickBooks once they are in a "completed" state.
- In this mode, corporate card transactions will sync automatically to QuickBooks after an admin approves the transaction and it is marked as complete.
Toggle Accounting Sync Settings on if you prefer a manual, pre-reviewed sync.
- This setting requires an additional review of corporate card transactions prior to syncing them to QuickBooks. Approved corporate card transactions will appear on the Accounting page in the Admin menu bar. Admins can view and edit transaction details before syncing them to QuickBooks. Learn more about the manual accounting sync feature here.
Step 4: Select a Source Bank Account
You can select the Cash or Accrual method for your reimbursable sync.
Cash Method
Abacus will create a Bill and corresponding Bill Payment in this account each time we debit this bank account for reimbursements (no more than once a day for the sum of all expenses approved that day). Each expense in that batch will be represented as a line item in that Bill. The Bill Payment amount will match the debit you see in your bank account for easy reconciliation.
Accrual Method
Abacus will create a new Purchase Transaction for each expense against an Abacus Clearing account. Expenses sync based on the date the expense was incurred, rather than the date it was reimbursed. When the expense is reimbursed, we will create a transfer in the amount of the associated debit from your bank register to the Clearing account so everything zeroes out.
You can read more about these options here.
Step 5: Select a Close Date
If you officially close your books in QuickBooks Online, you must keep your close date updated here each month. If an expense is dated in a closed month, we will update the date to the first day of the next open month.
Step 6: Select Default Items for Custom Fields
Abacus pulls in Class and Customer information from your QuickBooks. You have the option to create custom fields and map them to these fields in QuickBooks.
You can optionally add default mappings for Class and Customer on your Accounting Integration settings page. Each expense that is missing this field will be associated with the default item you select here.
Step 7: Configure Your Corporate Cards
Each time a corporate card expense is approved, we will push a corresponding transaction into QuickBooks Online automatically. Once you have connected your corporate card account to QuickBooks, complete the setup by navigating to the Accounting Integration tab in your Settings.
Single Card Feed Setup
If you have one card feed in Quickbooks, select the second option to sync to one card feed. Select the card feed from the drop down menu, and click Save.
Multiple Card Feeds Setup
If you have multiple card feeds in your Quickbooks, select the last option to sync to multiple card feeds. You will need to map each card or card program to the correct feed. Click None to view a drop-down menu of available card feeds, then click Save.
Step 8: Map Your Categories to Your Chart of Accounts
The final step is to map Abacus categories to your QuickBooks categories, sometimes referred to as your "chart of accounts."
Click on the Categories tab. You will now see a new column called QuickBooks Chart of Accounts. You can add and remove categories in the Category column on the left (this is what everyone on your team will see in Abacus) and then map them to the corresponding GL account in QuickBooks on the right.
Step 9: Sync Custom Fields to QuickBooks Online
You can create custom Team or Expense Fields in Abacus and sync them to custom fields in QuickBooks Online. Click the links below to learn how to create each field type.
- Team Fields are customizable fields that you can add to a member's profile, like Department or Team. This data will be attached to employees' expenses automatically.
- Expense Fields are customizable fields that you can add to the expense submission form. You can create a custom drop-down menu on the expense form for your employees to fill out while submitting their expenses.