Set Up Accounting Sync for Charge Card

Learn how to configure your accounting software to enable syncing with Float’s charge card.

Follow the steps below to connect your accounting software with your Float charge card accounts.

Step 1 - Create a clearing account for Float

Create a new account in your chart of accounts within your accounting software.

QuickBooks

In the chart of accounts page, add a new account and select an Account Type of Credit Card. 

Xero

On the chart of accounts page, click on Add Account. 

Create an Account Type of Current Liability and select enable payments to this account

If you are joining Float directly using the charge card product, you are done!

You can follow our other articles to finish setting up your accounting integration to Xero or QBO. Skip the guidance on creating a new clearing account – you already did that part above in Step 1! ☝️

If you were a Float pre-funding customer before converting to a charge card account, then continue the steps below.

Step 2 - Move your Float pre-funded balance to your new clearing account

For Float pre-funding customers, you should have been using a bank (asset) account for representing Float in your accounting software. When migrating to a charge card plan, you will view Float as a liability account on your books.

To migrate, you will need to create a manual journal entry to move any remaining balance from your original Float asset account to the liability account created in Step 1.

QuickBooks Online

Xero

Instructions: https://tv.xero.com/detail/video/5127824467001/manual-journals-in-xero

Step 3 - Change your clearing account

In the Float accounting settings, re-select the clearing account to be the new charge card account you created in Step 1.

On the accounting integration settings page,

1. Click the Sync button and wait for the button loading icon to finish
2. Refresh the page
3. Select your new charge card account in the dropdown