At Slash, we’ve introduced two distinct methods for syncing your transactions with QuickBooks. Each method has its advantages depending on your accounting needs and workflow. This article will help you understand the difference between the two, and why you might choose one over the other.
Pull integration: QuickBooks bank feed
The QuickBooks bank feed integration automatically pulls transactions from your Slash accounts into QuickBooks. With this method, transactions are imported into QuickBooks with basic details like descriptions, but without categorization.
Here’s how it works:
QuickBooks indiscriminately pulls transactions from your Cash and Credit accounts and places them into QuickBooks.
Basic details like descriptions are populated, but fields such as vendor, customer, account (GL code), and class are left unassigned.
Accountants then manually log into QuickBooks to categorize these transactions by selecting the appropriate attributes like vendor, customer, account, and class.
The main disadvantage of this method is that your accountants will need to spend more time inside QuickBooks manually assigning and categorizing each transaction, which can slow down your accounting process.
To set up the pull integration please visit Connecting Slash Platinum to Quickbooks
Push integration: Slash accounting
With the newly launched Slash accounting feature, transactions from your Slash account are not automatically pulled into QuickBooks. Instead, you push your transactions from Slash to QuickBooks after categorizing them directly inside Slash. This method is more efficient for businesses that want to save time on categorization and streamline the accounting process.
Here’s how it works:
Transactions are categorized directly inside Slash using mappings based on merchants, merchant categories, cards, and card groups.
You can map specific Slash card transactions to QuickBooks accounts, vendors, classes, or customers before pushing them into QuickBooks.
This method helps you see full transaction metadata, making it easy to assign multiple QuickBooks categories (like class) accurately without backtracking.
New Slash accounting feature offers several advantages:
Increased efficiency: You can handle categorization and transaction mapping in Slash without needing to log into QuickBooks.
Automation: Set up mappings to automatically categorize routine transactions, reducing manual work.
Full context: Slash provides all transaction details and context, helping you categorize transactions faster and with more accuracy.
To set up the push integration please visit How to connect your Slash account to QuickBooks
By understanding the differences between these two methods, you can choose the integration that best suits your business needs, making accounting more efficient and helping you close your books faster. If you have any questions about the integrations, our support team is here to assist you at [email protected].