You can connect Float to QuickBooks Online (QBO) to sync your chart of accounts, vendors, tax codes, classes, and other accounting data for your USD cards. This guide walks you through setting up the integration, creating your USD clearing account, and preparing your transactions for export. Float only supports QuickBooks Online, not QuickBooks Desktop.
To complete the USD setup, Multi-Currency must be enabled in QBO.
Guide Overview
What you need before connecting
How to create a Float USD Clearing account in QBO
How to set your USD Clearing account in Float
How USD and CAD exports work together
Important considerations to be aware of
What you need before connecting:
Before integrating Float with QBO for USD transactions, ensure the following:
Multi-Currency is enabled in QuickBooks Online
Admin access in QBO
-
Either an Administrator or Bookkeeper user role in Float
This is required to be able to connect QBO to Float and manage the Clearing Account set up
For more details on user roles and their permissions, see: User Roles
A Float USD Clearing account created in QBO (instructions below)
How to create a Float USD Clearing account in QBO
Float uses a Clearing account in QBO to record the two entries created for every exported transaction.
How to create a Clearing account in QBO:
- Head into Transaction > Chart of Accounts
- Press "New" to create a new bank account in your chart of accounts
- Here is how you can configure the account:
- Account Type: Bank
- Detail Type: Chequing
- Name: "Float Clearing Account - USD" (Can be anything that you prefer)
- Currency: USD
- Hit "Save and Close" to save
How to set your USD Clearing account in Float
After connecting QBO to your Float account, you can set the Clearing account you created in QBO in your Float settings. To do so:
Go to Settings > Accounting Sync
In the USD Clearing Account section, select the USD Float Clearing Account you created from the dropdown list
For details on how exports work, see: How do QBO Exports Work?
How USD and CAD exports work together
After setup, Float allows you to export both USD and CAD transactions in a single export.
Float automatically chooses the correct clearing account (CAD or USD) based on:
The card’s currency, not the merchant’s currency
For example:
A CAD card used at a US merchant in USD → The transaction will be converted from USD to CAD in Float (incurring currency conversion fees) → exports to your CAD clearing account
A USD card used at a US or CA merchant in USD/CAD → exports to your USD clearing account
Vendor naming requirements
When syncing vendors to Float from QBO, the vendor name must be unique, even if the vendor has different currencies.
Example:
You cannot have a vendor named "HubSpot" for CAD and USD
Instead, name them uniquely, such as “HubSpot USD” and "HubSpot CAD"
Important considerations to be aware of:
A few important notes for USD export setup:
Float determines the export currency based on the card’s currency, not the transaction currency
If USD transactions are made on a CAD card, they will always export to the CAD clearing account
If a vendor exists in one currency, you cannot create another with the same name in a different currency. Use a modified name instead
For additional support with the integration between QBO and Float, see: QuickBooks Online Integration - FAQ.