To connect your USD card transactions to QBO, please follow the below instructions!
Note: In order to complete the QBO integration successfully for USD you will need to enable multi-currency in QBO
1. Create a USD clearing account in QBO
Navigate to 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 USD Clearing Account (Can be anything that you prefer)
Hit "Save and Close" to save
2. Set your USD account in Float
Head into the Settings > Manage Accounting Integration > Select "QBO" option
Enter your QBO credentials and select the newly created USD account
3. Start exporting 🥂
You can now select both USD and CAD transactions in a single export, and Float will automatically choose which clearing account to apply your transactions to based on the card’s currency.
Some things to be aware of…
- Float determines which clearing account your transaction gets applied to based on the card currency, not the currency that the Merchant processed the transaction in. This means any USD transactions made on a CAD card will export to your CAD account.
- The Vendor that you attach to your transaction has to have a unique name even if their currency value is different. For example: If a vendor named ‘Hubspot’ using CAD is already created, you will not be able to add another ‘Hubspot’ set to USD - you’ll have to set the name to something different, like: ‘Hubspot USD’
Note: Tags in QBO are not imported into Float. QBO Classes are imported from QBO to Float as tags. Customers and projects are available only on the professional plan. Please reach out to firstname.lastname@example.org to upgrade!