How to Integrate QuickBooks Online (QBO) with Knit
QuickBooks Online (QBO) is the cloud-based version of the accounting software developed by Intuit. The software provides a robust and efficient way for small business owners, bookkeepers, and accountants to manage financial information. By integrating QBO and Knit, you’ll be able to efficiently and effectively streamline all of your financial paperwork in one convenient place.
This guide covers: Mapping, Syncing, and Exporting QBO and Knit Payroll
How to Get Started:
- Sign up for a QuickBooks Online account.
- Map your chart of accounts from QBO to Knit. Here’s a guide on how to customize your payroll account preferences on QBO’s website.
- Log into your QBO account in one browser tab and, in a separate tab, log into your Knit account.
- Here’s a simple working example of mapping your chart of accounts for a single paygroup and paycycle on QBO and Knit:
Wages & Salaries
Payroll Clearing Account
How To Map Chart of Accounts - QBO:
- Log into your QBO account. On the left-hand side menu go to “Accounting”, and then “Chart of Accounts.”
- Map your chart of accounts for the appropriate payroll entry. See an example below (right click and "View Image" to expand):
How To Map Chart of Accounts - Knit:
- Log into your Knit account, go to “Reports” and “QuickBooks,” and then click “Assign Chart of Accounts.”
- Example (right-click and select "View Image" to expand):
- For any errors or missing account code, modify your chart of accounts on QBO. Then press “Click here to sync” on Knit.
- Once re-synced successfully, a green push notification will show on the right-hand corner of the screen.
- Click “Save & Continue” at the bottom-right corner once finished mapping.
- You will be redirected to the “Export Payroll” screen. Select Paygroup and Pay Cycle Pay Date, and then click “Export Preview.”
- After selecting the Paygroup and Pay Cycle Pay Date, review the payroll journal entry and then click “Export to QBO Now” on the bottom-right:
- Once exported successfully, you will be notified with a green push notification on the top right-hand corner of the screen.
How to Sync & Export:
- Log into your Knit account, go to “Reports” and “QuickBooks” and then click “Connect to QuickBooks.”
- Click “Connect” to give QBO access to your Knit account.
- Once authenticated, you’ll be taken back to your Knit account where you can map your Knit payroll entries to your QBO chart of accounts (refer to above guide).
- Once everything is synced and mapped, you can export your payroll to QBO through the same Reports --> Quickbooks menu. If the sync was set up correctly, you will be directed to the “Export Payroll” screen. Select Paygroup and Pay Cycle Pay Date, and then click “Export Preview.”
- Review the payroll journal entry you selected for export, and then click “Export to QBO Now.”
- Once exported successfully, you’ll be notified with a green push notification on the top right-hand corner of the screen.
To check if the export was successful, or not in QBO, go to “Reports” and under “For my accountant,” click “Journal.”
- Exported journal entry on QBO should look something similar to this:
Good job! Your accounts have been connected. By connecting QBO with Knit, you can easily import your payroll entries from Knit into QBO for financial reporting, helping you to organize and manage your payroll and accounting needs through integration.