QuickBooks Live-Sync allows you to automatically keep Tola in sync with your accounting software.
Connecting to QuickBooks
Here are the steps you can follow to establish this connection:
Log in to Tola: Firstly, sign in to your Tola account
Navigate to "Settings": Click on setting on the left side panel.
Click on "Accounting": Within "Settings," you'll find this option.
Click "Connect to QuickBooks": You will be redirected to log into QuickBooks.
Authorize Tola Access to QuickBooks: Here, enter your QuickBooks credentials and sign in. After successful login, you'll be asked to authorize our platform to access your QuickBooks data. Click on "Authorize" or "Connect."
Confirm the Integration: Finally, you will be redirected back to Tola. Confirm that your integration has completed, and that you see the default account settings.
When you connect your QuickBooks Online account to Tola, we import:
Chart of Accounts
Customers and Vendors that you've interacted within the last 6 months.
Invoices and Bills that are unpaid and from within the last 1 month.
None of your contacts or bills from Tola, prior to connecting, are exported to QuickBooks when we connect. This is done to make sure your books remain clean and tidy.
From this moment forward, any updates to Customers, Vendors, Invoices, and Bills in QuickBooks will be automatically imported to Tola. Any updates to Contacts and Bills in Tola will be automatically exported to QuickBooks.
Defaults
When you connect Tola to QuickBooks, we create a few defaults in your Accounting Settings. These accounts/items are added to your QuickBooks, and you may customize them as needed.
Bill Category: An expense account for Bills added in Tola (if category is not specified)
Invoice Item: An inventory item for Invoices in Tola (not customizable at this time)
Pay Later Liability: a liability account for "Pay Later" bills. This reflects the vendor payments that Tola has made on your behalf, to be repaid later.
Fees: an expense account for all payment-related fees.
Chart of Accounts
The Chart of Accounts (COA) is imported when we connect to QuickBooks, including the following fields:
name
description
code
Customers and Vendors
Customers and Vendors in QuickBooks are synced with Contacts in Tola. The fields that are synced include:
name
email
phone number
address
contact name
A contact in Tola can be exported as both a Customer and a Vendor in QuickBooks. Tola will append either a "(c)" or a "(v)" to the name in QuickBooks, depending on whether the record is a customer or vendor respectively.
Payment information is not synchronized between Tola and QuickBooks. Tola requires that you enter this information, or Tola can collect this from your vendor per your request. For any questions, please contact [email protected]
Bills/Invoices
Bills and invoices are synced between both systems. The following fields are synced:
type (payable or receivable)
date of issue
due date
invoice number
related contact
line items
private note
attachments*
Scheduled/Paid via Tola: For payment security reasons, a bill that has been scheduled for payment in Tola is not editable. Any further updates made in QuickBooks will not sync back to Tola.
Attachments: when you add attachments to QuickBooks, they will sync to Tola. At this time, attachments are not exported from Tola to QuickBooks.
For any questions, please contact [email protected]
Payment Reconciliation
If you mark an Invoice as paid in QuickBooks it will be marked as Paid in Tola provided the Invoice was not previously scheduled for payment in Tola.
At this time, Payments are not exported from Tola to Quickbooks. However, you may download a transaction statement from Tola that reconciles with your bank transactions. Access this statement via your organization's accounting settings.
Please contact [email protected] if you run into any issues and we will be happy to help.
Live-Sync Report
We also provide a Live-Sync Report for download that summarizes bills and invoices that may require your attention in order to resume importing or exporting properly.
