If your business uses QuickBooks Online items such as products and services to track business costs and create job costing reports, you can import these to Expense Management to help categorize expenses.
Because items are tied to expense and income accounts, tracking expenses in Expense Management by item helps generate accurate job cost reports. Expenses exported as items can be easily tied to an invoice for your customers.
Import items from QuickBooks Online to Expense Management as categories
Select the Configuration tab, then select the Import settings section.
Switch the Import products and services from QuickBooks Online toggle on.
Once enabled, all active product and service items from QuickBooks Online will be imported as expense categories in Expense Management. Employees can then categorize expenses to QuickBooks Online product and service items when adding expense details.
View your expense categories by selecting the Settings tab from the left side panel. Then, select the Expense categories page in the Expenses & reports drop-down.
Exporting expenses from Expense Management to item details in QuickBooks Online
Since both the chart of accounts and product and service items can be mapped to expense categories in Expense Management, the integration ensures that expenses are posted to the correct section (category details or item details) in QuickBooks Online.
For example, in the following screenshot, Installation Service is a service item in QuickBooks Online.
This service item is imported as an expense category in Expense Management.
When adding expense details, employees can assign an expense to the installation services category. The expense will be automatically exported to the item details section of the expense and bills or credit card charges in QuickBooks Online based on the export transaction type you’ve set.
If an employee assigns an expense to a food expense account in your QuickBooks Online chart of accounts, this expense will be posted to the category details section of the transaction instead.
Note:
Import Products/Services from QuickBooks Online won’t be available if the export transaction type is set as a journal entry.
If your business uses items frequently for all expenses and tags to the expense account by default, we recommend importing only product and service items from QuickBooks Online to Expense Management instead of importing both charts of accounts and product and service items.
If a product or service item is disabled in QuickBooks Online, it will automatically be disabled in Expense Management.
Note: If you have previously imported product and service items to Expense Management via the integration and later changed the export configuration to journal entry, all the previously imported product and service items will be disabled as the journal entry transaction type doesn’t support the export of expenses as items.
If you need further assistance with exporting expenses as items, contact our support team at support@capitalone-fylehq.com.