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How do we change what account types are imported into Expensify from QuickBooks?
How do we change what account types are imported into Expensify from QuickBooks? I'd like to import Long-Term Liabilities as a category, as a few of our monthly expenses fall into this category and those expenses keep generating violations since I can't currently categorize them correctly.
I found this list of account types from QuickBooks and their purposes in Expensify from another thread, but don't have visibility on how to change their import settings:
Expense — Pull in as categories
Cost of Goods Sold — Pull in as categories
Other Current Assets — All detail types pull in as categories or Journal Entry export options
Bank — All detail types pull in as Debit Card and Check export options
Fixed Assets — All detail types pull in as categories
Other Assets — Do not import
Accounts Receivable — Do not import
Accounts Payable — Vendor Bill or Journal Entry export options
Credit Card — Credit Card export options
Other Current Liabilities — All detail types pull in as export options when exporting as a Journal Entry
Long-Term Liabilities — Do not import
Accumulated Adjustment — Do not import
Equity — Do not import
Income — Do not import
Other Income — Do not import
Other Expense — All detail types EXCEPT Exchange Gain or Loss import in as categories; Exchange Gain or Loss does not import
Thank you.
Answers
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Hey there @royk! Thanks for chiming in on the Community! Those accounts are not supported in the API connection with QuickBooks Online, so unfortunately, you won't be able to enable them.
Can you help us understand a bit more about why you need to import Long-Term Liabilities? Is there no other account that would serve your purposes?
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Our accountants manage our QuickBooks account, and they've classified our monthly company car payments as LT Liabilities.
For day-to-day expenses, they rely on our employees to help categorize and label expenses and track receipts using Expensify, which then gets reconciled with QuickBooks.
For the monthly expenses that our accountants have categorized and labeled within QuickBooks, I want to make sure that our labeling in Expensify matches and doesn't cause issues when syncing back with QuickBooks.
What's the best way to do that if Expensify can't pull the full list of categories?
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@royk You'd need to create a different account as a valid account-type in order to track this, ultimately. I'm not sure if there is, but there might be a way to map an expense type account to a LT liability account, which would be the best solution if possible. Otherwise, those types of expenses would need to be tracked outside of Expensify, or recategorized within QBO post-export.
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Thanks for the response. For creating those account types, I'm assuming that needs to be done in QBO? At least within Expensify, I'm unable to create any new/custom categories as they're all just synced from QBO.
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Yes -- that's correct, I meant in QBO!
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Okay @Jeremy Boniface I'll see if we can solve this on the QBO side, thanks.
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Sounds good!
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When it says Journal Entry rather than category under Other Current Liability, how is that done if it's not a category to choose from?
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@D_Unearth It would be an account you select via Settings > Policies > Group > [Policy Name] > Connections > Accounting Integrations > QuickBooks > Configure. It would be the account to which all reports export — in other words, you would not be able to choose it per-report or per-expense.
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Expensify should simply import all GL Accounts as Categories, and then under Policies>Categories each company can decide if they want to toggle on/off the category that syncs over from QB. Not allowing liability accounts is pointless, and limits companies that use accrual accounting. Everything recorded in Expensify categories is recorded as a Debit in Quickbooks, which would be no exception for these liability accounts for anything paid on a report in Expensify.
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Hi @RichardNoggin! Thanks for reaching out. Unfortunately, there is not a way to customize the lists that import into Expensify from QuickBooks at this time. However, I will share your feedback with our team directly to see if this is something we would be willing to add to our roadmap for future changes to the integration.
If you have any other questions or need anything else, please let us know.
