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Write-back to QuickBooks Online

Fynease posts approved company-level adjusting entries to the company's QuickBooks Online file as journal entries. QuickBooks Online stays the book of record; Fynease never edits or deletes what is already there.

What posts, and what does not

• Posted to QuickBooks Online: prepaid amortization, depreciation, deferred revenue recognition, loan and lease entries, cost allocations, intercompany correcting entries, reclassifications, foreign currency revaluation, and manual adjustments.
• Kept in Fynease: elimination entries, the translation adjustment and year-end close entries, which belong to the group rather than to one company.

Approval and auto-post

• Nothing posts until it is approved.
• Once a schedule is confirmed, its monthly entries can be booked in Fynease automatically: at month end for prepaids, deferred revenue and depreciation (switched on per company), and a few business days before the payment date for loans and leases (switched on per item). Sending them to QuickBooks Online stays a separate step, one click for the period.
• Suggestions Fynease detects in the ledger are never posted automatically; they wait for someone to confirm them.

No double posting

Each journal carries a document number unique to it and a Fynease reference in its private note. Before posting, Fynease checks QuickBooks Online for that reference, so a retry or a second click never books the same entry twice.

Sales tax

A journal that carries sales tax posts with the QuickBooks tax code on its lines, so QuickBooks calculates and tracks the tax for your filings. If the tax code is missing or cannot be resolved, the journal is stopped and the reason is shown, rather than posting a tax line QuickBooks would not track.

Bank matching

• A credit that settles one cash movement posts as one line, so it can be matched to the bank feed.
• A full loan or lease payment can post as a vendor bill instead of a journal: principal to the liability, interest to expense. Paying that bill in QuickBooks is what matches the bank transaction.

Disconnecting

You can disconnect QuickBooks Online at any time. Entries already posted stay in your books.

More in the close

• Prepaid expenses and deferred revenue
• Fixed assets and depreciation
• Loans and leases
• Cost allocations
• The Close Workbench and sign-off
• Audit trail

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