Step 1: Authenticate the integration
To connect your Quickbooks Online account to SVB T&E, the first step is to log in to your SVB T&E account and head to the Accounting Sync tab of your 'Account & Settings' tab.* (Note: only admins can edit the accounting sync settings).
Select QuickBooks, and then QuickBooks online. Click the 'Connect to QuickBooks' button that appears below:
Enter in your Admin credentials from QBO, and then click "Authorize."
The connection to your Quickbooks is set up, and now you need to configure the integration.
Step 2: Select a Default Expense Type
The next step is selecting a default expense account, which is usually something like "miscellaneous" or "other." This will be used in the rare case that an expense does not have a Category selected or 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
Decide whether you want corporate card transactions to sync automatically to QuickBooks once they are in a "completed" state or if you prefer a manual pre-reviewed sync.
For Auto-Sync:
Toggle the Require Accounting Review option to "Off". In this mode, corporate card transactions will sync automatically to QuickBooks after an admin approves the transaction and it is marked as complete.
For Pre-review Sync:
Toggle the Require Accounting Review option to "On". This setting requires an additional review of corporate card transactions prior to syncing them to QuickBooks. Once turned on, approved corporate card transactions will appear on the new 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 Cash or Accrual method for your reimbursable sync.
Cash Mode
SVB T&E will create a Bill and corresponding Bill Payment in this account each time we debit this bank account for reimbursements (max 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 on your bank account for easy reconciliation.
Accrual Mode
If you choose to use the Accrual Sync, SVB T&E will create a new Purchase Transaction for each expense against an SVB T&E Clearing account. Expenses sync based on the date the expense was incurred, rather than reimbursed. When the expense is reimbursed, we will create a transfer in the amount of the associated debit from your bank register to the SVB T&E Clearing account so everything zero's out.
You can read more about these options here.
Step 4: Select a Close Date
Select your 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 5: Configure your Corporate Cards
Each time a corporate card expense is approved in SVB T&E, we will push a corresponding transaction into Quickbooks Online automatically.* Once you've connected your corporate card account to Quickbooks, complete the set up by navigating to the Accounting Integration tab in your settings.
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."
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. Click "Save," and you're done!
Step 6: Map your Categories to your Chart of Accounts
Customize your SVB T&E Category list, and then map each item to a GL account: