Focus areas in this session include: Xero vs. Quickbooks Online (QBO) - which one is right for my business?, How Xero & QBO 'talk' with Accelo, Importing data from your Xero & QBO... Read More
Focus areas in this session include: Xero vs. Quickbooks Online (QBO) - which one is right for my business?, How Xero & QBO 'talk' with Accelo, Importing data from your Xero & QBO account (clients and General Ledger Codes), Integration settings, Streamlining income and cost code tracking with Services & Purchase Templates, Billing reports and cash flow to make sure that I'm paid on time for the awesome work that I do!
[Tom] Okay, let's get going, shall we? Thanks for joining us, everybody, for another episode of Accelo Best Practices. Today we're going to be focusing on Accelo's integration with the two Cloud-based accounting platforms that Accelo integrates with, Xero and Quickbooks. Whilst the integrations with each platform have a couple of minor differences, the way in which they work with Accelo is fundamentally the same. We're going to touch on a couple of the differences, but we will be using examples from both platforms. I'm your host, Tom. I'm an account manager here at Accelo, and I'm joined by John who's a solutions engineer and will be the primary presenter today.
[John] Thanks, Tom. First we'll kick off on a high level, how the integrations work. As Tom was mentioning, the integrations work very similarly between Xero and Quickbooks Online, so we'll cover both of those high level integrations, and then we'll dig into the integration setup. This is where the integrations start differing, very little between the two, but it's good to mention some differences that exist in both. Then we'll spend some time, after you do the initial integration setup and import, what that looks like in Accelo, where you can see if the integration worked or pieces that may have not worked coming over. We're going to share some best practices on financial control, specifically how we can start templating some of our work on the top of the funnel with different financial control metrics, like service items and general ledger codes, so those stream into our accounting system seamlessly. Lastly, we'll show this live, what it looks like if you were integrating with Xero, all the way from quote to payment, as well as Quickbooks Online, what that process looks like.
[Tom] Sounds good, John. Guys, as we go along, feel free to use the Q and A function. We do have some dedicated time in the middle of the webinar, also at the end. If anything is super relevant, I'll jump in and ask John there as well, but yeah. Feel free to ask questions. If we can't answer anything on the spot, we'll of course be happy to follow up with you afterwards. All right, let's get going.
[John] Awesome. Thanks, Tom. To kick it off and to show where Accelo fits into your whole entire service operation stack, where we see Accelo is sitting on the operations side. That's bringing in new clients, quoting, doing the work for them like a project or moving into the ongoing services side, like in retainers and tickets. For the customers who are watching this webinar, they can say, "Yes, Accelo is the tool that I use for operations," but there are often other sides of your service operations, rather than just purely the operations component. Part of that is the services and marketing. The last best practices webinar, we talked a bit about how HubSpot marketing email automation platform can integrate with the service operations automation side, meaning Accelo.
Then, there's a lot of Professional Services Automation (PSA) out there that say they do finance and did start in the finance side and moved into Accelo's side and operations, but we think that finance and accounting platforms out there, including Quickbooks Online and Xero, do a really excellent job, so we let their teams focus solely on making awesome applications for what they do, and then we build a very tight integration with those applications.
What you can see here are some of the high level things that we integrate with, so that you can seamlessly manage your operations while still having financial control in invoicing, syncing down to the finance side. Those things are clients, contacts, and any suppliers or vendors who you work with. We have a two-way integration with your invoices and payments to your clients, and then we'll also sync the purchases and payments that you make for those, if you are working with any vendors or have any expenses come up on the work that you do.
Now, from a high level, this all looks great, but how does it actually work? First off, on the invoice side, like I said, it's a two-way invoicing. Any invoices that we create in Accelo or any invoices that we create in Xero or Quickbooks Online will sync back and forth, and we'll dig into some of the settings where we can choose whether they sync back and forth as well. On the invoice, we'll sync your services, whether it's design or development. Any materials that may be used during the project, this could be a server that you purchase or a print brochure that you get printed offsite and it's not within your company, and expenses as well, whether it's gas and travel or any things that you need to purchase like paper and pens for an onsite service design session. We'll also manage the payment side on the invoices, and there's a two-way sync that comes out of that as well.
Digging into what the two-way invoice sync looks like on the services side, here are some of the items that we sync over, including the income general ledger, the amounts that we sent to the client, tax codes, and then also a description that comes over on the invoice.
The two other pieces more or less match what the service piece is, so print materials or tax codes and descriptions. The vendor cost side, just hold onto that thought. We'll talk a bit about that on the purchase. Then, if you pass through any expenses that you may incur...