Braden Bronson walks through connecting NetLease to QuickBooks Online. You'll map your accounts to lease types, then generate and post journal entries for initial balance and amortization directly into QuickBooks.
Adam Riches, CPA
February 13, 2024
Braden Bronson
Run Journals, Sync Accounts, Fetch Categories, Disconnect
Hi, I'm Braden Bronson and I'm excited to announce our new integration between Netlease and QuickBooks Online. We are here to help you make lease accounting easy for QuickBooks. You'll see here in Netlease that we'll navigate to our Admin page and then the Integrations tab. In order to connect to QuickBooks, we click Connect to QuickBooks and sign into our QuickBooks Online account. Click Connect here. Once logged into QuickBooks Online, you'll notice on the Integrations tab that four new buttons appear. Run Journals, Sync Accounts, Fetch Categories and Disconnect Sync Accounts will pull accounts from QuickBooks into Netlease. Fetch categories will pull location and class data into Netlease. Run journal entries will send journal entries from Netlease to QuickBooks. In order to set up, we'll need you to click Sync Accounts. When you click Sync accounts, you'll see QuickBooks accounts appear here. Click that tab to view all of your accounts. One more step is required in order to set up your accounts and connect them to your leases. Navigate to the Lease Types tab and to your relevant Lease type. We'll go to Real Estate and note that when you click Lease type Actions Edit, you'll have the option to select QuickBooks accounts. Make sure to map each relevant account to its corresponding Lease account. Once you click Update, you'll be ready to post journal entries. If we navigate back to the Integrations tab and click Run Journals, it'll take you to a page with several different journal entry types. We're going to stick to the Lease Activity Journal Entry report. Here we can filter for the dates that we would like to generate journal entries. If you would like to preview your journals, you may click this button and if you're ready to post those journals, click Prepare Journals. You'll see on this page that we have an Initial Balance journal entry and an Amortization journal entry. You'll see that I've already posted the initial balance entry that I have not posted the Amortization entry. I'll check just the amortization entry and click Post Journals and that quickly will see our journal entries appear in QuickBooks. Let me just adjust this filter. And you'll notice that our Office Lease entry appears here. Thank you for tuning in to our QuickBooks and net lease integration. If you like this content, feel free to like and subscribe so you receive future notifications for our exciting updates. Thank you.
