Reimbursements & QBO

Float’s integration with QBO simplifies your expense management by automatically syncing your reimbursement reports to QBO as itemized bills. Here’s how to set up the integration and understand the syncing process.

Step 1: Connecting QBO

Begin by connecting QBO to Float. This can be done for both CAD and USD accounts. Follow the steps outlined in this guide to set up the connection.

Note: Reimbursements can currently only be paid out in CAD.

Step 2: Setting Up Your Accounts Payable & Clearing Accounts

Setting up your Accounts Payable and Clearing accounts is an easy process. After connecting your QBO, go to your settings, select “Reimbursement Settings,” and configure your AP and Clearing accounts.

Step 3: Syncing Vendors and Configuring Banking Details

Once your QBO is connected to Float, all your vendors will automatically sync over. This includes any users set up as vendors for reimbursements, ensuring they are ready for payout.

Note: User banking details must be configured in advance for direct payouts.

Step 4: Exporting Reimbursements to QBO

Once a reimbursement report has been approved, it moves to the “Ready to Review” section in the Reimbursements tab. Here, you can review and update the report to ensure it’s correctly coded (e.g., GL codes, tags, tax codes and vendor) to ensure a successful export.

Note: You only need to assign the requester’s synced vendor to a reimbursement report once. After that, Float will automatically use that vendor for all their future reports. If you update the vendor on one of their reports, the new one will apply going forward.

Exporting Options:

• Checking the box: Check the box for one or more reimbursement reports that are ready for export, then click the “Export as unpaid” button.
• Overflow Menu: Use the three dots on the right-hand side to access “export as unpaid”.
• Within the Report: You can also export directly from within the report using the “Export as Unpaid” button.
  
  Note: If a reimbursement report is not ready for export, the QBO logo in the sync column will be grayed out. Attempting to export it will throw an error that displays what needs to be fixed before it can be exported.

When the report is correctly updated, the QBO logo in the sync column will be colourized, indicating that the reimbursement is ready for export.

Once exported, the reimbursement will move to the “Unpaid” tab, and an itemized unpaid bill will be created in your QBO.

Step 5: Marking Reports as Paid and Direct Payouts

Marking reimbursements as paid varies depending on whether you've scheduled the reimbursement for direct payout in Float or if you're paying the reimbursement reports externally.

Paying from Float Balance (Direct Payout): If you’ve scheduled the reimbursement for payment in Float, it will move to the Payments tab and be paid from your Float balance on the scheduled date. Once paid, the reimbursement will be marked as paid in Float, moved to the All Reports tab, and the corresponding itemized bill in QBO will be marked as paid.

Paying Externally: If you pay the reimbursement externally, you’ll need to manually mark the report as paid in Float. This can be done in the Unpaid tab after the reviewing process, or in the Payments tab (if the reimbursement was scheduled for payment but is now being paid externally). Once marked as paid in Float and moved to the All Reports tab, the itemized bill in QBO will automatically be updated to show as paid.