Syncing Additions to AutoRec Amortization and Depreciation Copied!
Purpose: AutoRec Amortization and Depreciation users can automate monthly additions and journal entry postings for NetSuite, QuickBooks Online (QBO), and Workday customers.
Enabling the Integration Copied!
As long as your entity has synced credentials to use the NetSuite, QBO, or Workday integrations, any account with AutoRec Amortization or Depreciation enabled can be connected.
Note: There is one setup step before the Sync option appears in the Add Items dropdown. Please reach out to your Accounting Success Manager (ASM) or support@floqast.com to complete the setup before proceeding.
Syncing Additions into AutoRec Copied!
You can automatically sync additions into AutoRec Amortization or Depreciation by clicking the Add Items dropdown and choosing the Sync option.
This will prompt you to map the fields from your ERP to bring into AutoRec Amortization or Depreciation. You can click each dropdown to choose which field is mapped to FloQast. The amount field must be mapped before the Sync button becomes available, and the rest of the fields are optional. If the start and end date fields are not used in your ERP, you can still map them, and FloQast will bring in the data with null values so you can edit them in the module.
The remaining optional fields depicted in the screenshot above can be filled out with data. These fields do not need to be mapped to sync, but they do allow you to bring in more data for each item.
Note: If you plan to use FloQast to post your amortization or depreciation expense entry, make sure the department, class, and similar fields are mapped.
Once your fields are mapped and you click Sync, you will be redirected to the schedule. After the sync is completed, a confirmation will be shown.
Automatically Posting the Journal Entries Copied!
You can automatically post your journal entries to NetSuite, QBO, or Workday by following the steps in this help article.
Frequently Asked Questions Copied!
What transactions are synced into the system?
FloQast will sync all the debit transactions that are booked to the asset account that is linked to the amortization or depreciation account. Credit entries are not synced into the system.
What happens if an addition is deleted in QBO or NetSuite after it was already synced to FloQast?
FloQast will not automatically remove items that were deleted in QBO or NetSuite. Each sync will only look for net new items.