When you link your Squirrel Street account to your accounting package using a Version 2 integration, there is a list of export types and settings for you to choose from. This article explains what these settings mean and how they apply to your workflow.
1) Export settings:
The export setting determines the type of entry made in your accounting package when receipts are exported. The options you see are based on what is available in your accounting package and supported by their API.
Below are examples of settings for a sample of the accounting packages we support:
Important: the following are based on system settings, and have not taken your particular business processes into consideration. You should check with your Accountant or Bookkeeper before you set this up.
Purchases/Bills (Draft/Approved/Awaiting Approval): Invoice format, you can have different issue date and payment dates, more flexibility in posting and reconciliations
Spend Money To: directly posts the expense to a bank account, issue and payment dates are the same
Expense Claim to: directly posts an expense claim against an employee or staff member
Due Date: You can now automate adding due dates to receipts exported to your Xero account as Purchases/Bills. Add a default due date to any receipts with a payment type of "other" when you export. The integration can add due dates of either 14 or 30 days from the transaction date. See below example:
Purchases/Bills: Invoice format, you can have different issue date and payment dates, more flexibility in posting and reconciliations
Journal Entry: directly posts the expense to a general journey entry format
Expense: directly posts the expense to a bank account, issue and payment dates are the same
MYOB AccountRightLive export options are
General Journal - goes to the Transaction Journal where you can select an account
Bill/Supplier Invoice - goes to the Purchases Register
Spend Money - directly posts the expense to a bank account
Handy Tip: You can change between settings if you need to export different types of receipts into your accounting package. Taking Xero as an example, select Purchases/Bills to export invoices, and then go back into settings and select Expense Claim to export an employee's expense receipts. You can selectively export receipts by using the "Advanced export" setting (detailed below) or adding the category "Do not export" to categorised receipts.
2) Export schedule:
The second set of settings control your export schedule:
We check your account for receipts with Chart of Account categories added to them and automatically export them into your accounting package every 2 hours (on each even hour - 2am, 4am etc).
This is an optimum setting when you have auto-categorisation rules set up, and most of your incoming receipts/invoices are from a small set of vendors.
You may still trigger an immediate export by going to the Accounting export page and clicking on the Export Now button.
To prevent categorised receipts from being exported, add the 'Do not export' category to receipts to prevent the auto export from picking them up.
The manual export setting gives you full control on when your receipts are exported, so even if you have auto-categorisation rules set up, you have a chance to go into Squirrel Street and categorise your receipts before clicking on the Export Now button on the Accounting exports page.
To prevent categorised receipts from being exported, add the 'Do not export' category to receipts to prevent the export from picking them up.
The advanced export gives you the functionality of both the auto and manual export schedules, with fine-grain control on receipts that are exported automatically. It works best for accounts that have an approvals workflow in Squirrel Street before exporting into your accounting package.
In the advanced export, we check for receipts ready to be exported every two hours, however, only receipts with both a Chart of Accounts category *AND* the 'Ready to export' category will be picked up in the automatic export process. Receipts need to have both categories in order to be exported immediately via the 'Export now' button as well.
So you can set auto-categorisation rules set up for your regular vendors, but those receipts won't be exported until you go into the Receipts page and add the 'Ready to export' category to those receipts. We implemented this as a result of feedback from customers who have multiple document submitters, and from business owners who have a bookkeeper or accountant adding Chart of Account categories to their receipts, but want to check their receipts before exporting them into the accounting package. The 'Ready to export' category is used to indicate approval as part of the workflow.