Overview:
After successfully connecting your accounting system to Quickly, follow these steps to complete the setup process. This ensures your financial data is accurately represented and helps you take full advantage of Quickly's features.
Complete your Buyer Account Settings
Recording entries related to early payment.
Select a clearing account or create a new one in your ERP System.
If Quickly is already set up in your accounting system, pick us from the dropdown list.
Or create a new Clearing Account in your ERP System. Click here for instructions.
Set up paying bills in Quickly.
Pick the General Ledger account that is related to the bank account you have connected.
If you’ve added a credit card, choose the G/L account related to it.
Pick the G/L account where we should record your savings from the Early Payment Program.
Pick the G/L account where we should record your payment transaction fees.
Select “Automatically pull bills into Quickly.”
That's it! Your buyer account settings are complete. You can now record the transactions to the correct accounts with the click of a button.
Important Step: Pushing Early Payment Entries or Re-Entries
After setting up your account and making early payments or repayments, it's crucial to push early payment entries or re-entries in Quickly. This ensures that all transactions are accurately recorded and synchronized with your accounting system. Here’s how to do it:
Step 4: Push Early Payment Entries or Re-Entries
Navigate to the Bills Section:
Review the Early payment or re-payment transactions:
Push the Entries:
Click the 3 button at the top right corner of the payment you'll like to settle and select "Push early payment entries" or "Push repayment entries" to your accounting system. This step is essential for keeping your financial records up-to-date and accurate.
This process involves syncing the transactions made in Quickly with your ERP system to reflect the early payments and their corresponding entries accurately. It helps maintain a zero balance in your clearing account, ensuring all early payment transactions are netted correctly and only impact the balance sheet without affecting the income statement.
Step 5: Confirm the Entries in Your Accounting System
Verify the Entries:
Check your accounting system to confirm that the pushed entries have been accurately recorded.
Conclusion
That's it! Your buyer account settings are complete. You can now record the transactions to the correct accounts with the click of a button.
💡 Have questions or need further assistance? Strike up a conversation with our support team using the in-app chat messenger. We are always happy to help! |