Intuit QuickBooks Online is one of leading tools people use for accounting in Singapore.
Payboy provides a one way integration with QuickBooks Online. Once you enable this integration, every payroll generated will automatically create a Journal Entry to the account of your choice on QuickBooks Online.
Connecting to QuickBooks Online
Follow the steps below to have both your payroll and accounting suite set up on Payboy and Intuit QuickBooks:
Make sure you have signed up for a Payboy account.
Sign in to your Payboy account if you have signed up before.
Click Connect to QuickBooks Online button.
Login with your QuickBooks Online account or register for one.
(Note: Ensure that you sign up for the Singapore variant of QuickBooks Online)
Confirm authorization for sharing of data between Payboy and QuickBooks Online.
You should see the page refresh with a success message once authorization is completed.
Map your Payboy transactions to the QuickBooks Online accounts you want these transactions to be posted to:
Bank Account: All expenses are credited on this account. Can be mapped to any QuickBooks Online account with type "Bank"
Salary: All payroll expenses debited on this account by default.You can also customize sub-items to use some other account. Leave sub-items them blank to map them to the Salary account. Can be mapped to any QuickBooks Online account with type "Expenses".
Reimbursements: All claims are debited on this account by default. You can also customize sub-items to use some other account. Leave sub-items blank to map them to the Reimbursement account. Can be mapped to any QuickBooks Online account with type "Expenses".
Click Save button to save your to complete your integration.
Synchronizing New Payroll Data
After you have integrated from the above steps, generate a payroll to have it automatically synchronized to QuickBooks Online for your accounting needs:
- Head to Payrolls > click on Generate Payroll
- Select the employees you want to generate the payroll for
- Click the Begin Payroll Generation button
- Click Next
- A payroll will be generated and a corresponding journal entry will be created on QuickBooks Online
Verify Payroll Accounting Data
Login to QuickBooks Online using the same account you connected
Check that a new journal entry is created (there is a quick history link at the center top of your QuickBooks Online dashboard)
Check that entries are matched to either existing on newly created employees by employee number
Synchronizing Existing Past/Old Payroll Data
In the navigation menu, click Payrolls.
Click the QuickBooks Sync button.
Repeat Steps 1-2 for all previous payrolls you wish to populate to Quickbooks Online.
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