Everything you need to know about connecting Float to accounting software Quickbooks (QBO), categorizing, and exporting transactions.Please note, we currently only allow integrations with Quick Books Online, and cannot support Quickbooks Desktop.
How to create a Float Clearing account in QBO
Float needs a clearing account in your Accounting Software to record the two entries for every transaction that gets exported from Float to QBO
To create a clearing account:
Head into Accounting > Chart of Accounts
Press "New" to create a new bank account in your chart of accounts
Here is how you can configure the account:
Account Type: Bank
Detail Type: Cash on hand
Name: Float Clearing Account (Can be anything that you prefer)
Hit "Save and Close" to save
Sync Float with QBO
Head into the Settings > Manage Accounting Integration > Select "QBO" option
Enter your QBO credentials and select the account you would like to Sync.
Wait up to 30 seconds for the accounting data to be imported into Float
Set your clearing account in Float Settings
Set the clearing account that you created in QBO earlier in Float
Set your clearing account:
Head into the Settings > Accounting Sync
Use the dropdown to select your account, if you want to re-import your accounts, hit the "Sync" button
If you have USD cards enabled, you'll need to perform the above steps for both your CAD and USD clearing account.
What data is synced between Float and QBO?
Float syncs your accounting data from QBO in order to make it easier for you to categorize expenses.
Note: Tags in QBO are not imported into Float. QBO Classes are imported from QBO to Float as tags.
Categorizing transactions in Float
Now that Float and QBO are synced you can start categorizing your transactions and exporting them into QBO.
For every transaction, there are a few required fields:
GL code - imported from QBO and attached by admins
And a couple of optional fields:
Receipt - attached to transactions by spenders or admins (exported as native attachments in QBO)
Description - attached by spenders or admins
Tax code - imported from QBO and attached to transactions by admins
Custom tax amount - attached by admins
Non-taxable amount - attached by admins
Accounting vendor - imported from QBO and attached by admins
Tags - imported from QBO, attached by admins (Float syncs both Classes as well as Customers & Projects to Tags, shown below)
Classes, Customers & Projects
Exporting transactions to QBO
Once transactions have been categorized with the required and optional fields, you can export them into QBO!
Viewing exported transactions in QBO
You can easily find your exported transactions in QBO by searching for the vendor or GL code that the transaction was labeled with.