This article aims to identify common pitfalls to avoid when using QuickBooks Online alongside Re-Leased to maintain seamless syncing between both platforms. Proper attention to these guidelines will help prevent issues that could disrupt your financial data accuracy.
Avoid Duplication in Chart of Accounts
Do not create chart of accounts with identical names. Unique names help maintain clarity and prevent confusion in your financial records.
Respect Locked Periods
Avoid editing transactions in periods that have been locked in QuickBooks. This helps in maintaining the integrity of financial records for past periods that might have already been reported or audited.
Dealing with Paid Transactions
For transactions that have already been paid or settled in your books:
- Do not delete paid transactions. This can result in discrepancies between Re-Leased and QuickBooks Online.
- Do not void paid transactions without first removing the payments. This ensures the payments are dissociated correctly beforehand.
- Avoid altering the amount of a paid invoice or bill, as it can lead to mismatched totals and reconciliation issues.
Editing Voided Transactions
Avoid editing voided transactions. Once a transaction is marked as void, it should remain untouched to ensure consistency.
Important Points to Keep in Mind
Alongside avoiding certain practices, there are also key points to be aware of when syncing your Re-Leased data with QuickBooks Online:
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Invoice Numbering:
If you have been using Re-Leased prior to integrating with QuickBooks Online, note that the first sync will harmonize the invoice numbering to match QuickBooks Online's system. -
Account Prefixes in Re-Leased:
For Re-Leased chart of accounts, prefixes are used to differentiate the types – [P] for purchases and [S] for sales. -
Resolving Sync Errors with Paid Transactions:
If a paid transaction is voided in QuickBooks Online and a sync error occurs, rectify the associated payment(s) in QuickBooks Online. By doing so and syncing again, you can typically resolve the error. -
Tax Handling for US Customers:
In the case of US/CA customers, whenever an invoice is created in Re-Leased, it is essential to specify whether tax applies. If selected, QuickBooks Online will calculate the tax, and the updated tax amount will reflect back on the invoice in Re-Leased.
By adhering to these guidelines and being conscious of the specific integration nuances between Re-Leased and QuickBooks Online, you will greatly reduce the potential for sync errors and ensure a smoother data management process.