Integration with an accounting Service Provider allows you to automate two processes crucial for the financial data exchange and described in other documents of the section:

1. Synchronization of the Chart of Accounts

2. Sending data batches to the Service Provider.

Basically, this means, that all the data from the journals you have defined in the Accounting → Settings can be automatically and, in case of a need, manually collected for the synchronized chart of accounts and sent to the defined service provider.

This document describes the steps for the Integration setup.

Preconditions

• You need to have an account with the Service Provider

  • Chart of accounts (or another list of accounts must be available at the Service Provider)

  • Your service provider has to support API export of the chart of accounts

  • Your service provider has to support API journal import

  • You need to know your credentials (Client id and Client secret)

Current Out-Of-Box Integrations

As of today, Xero and QuickBooks integrations can be enabled. Once you have provided TurnKey Lender with the API details to be used for the needs of your company and the integration has been set up, it is enough to:

• Go to the Integrations

• Enable the “Accounting” option

• Select the service provider

• Enter your credentials

How the Integration Affects the Accounting Functionality

The main changes are that

• The Chart of accounts can be synchronized and cannot be edited manually (see - Synchronize Chart of Accounts)

• Generated journal batches can be automatically sent to the service provider for further usage