How to Set Up Cost Codes in SynkedUP and Link to QuickBooks Online
Cost codes play a vital role in SynkedUP as they act as revenue-tracking buckets connected to services in QuickBooks Online. Properly setting up and maintaining these cost codes ensures accurate financial reporting and seamless integration between the two platforms.
1. Click "System Setup"
2. Click "Cost Codes"
3. Click this icon to edit an existing Cost Code.
4. Click "Link to QuickBooks"
5. Find the matching service in QuickBooks Online to link to and select it.
Alert: Make sure that you are linking to a service and not a category in your Products and Services list. One common error is encountering the message: 'One or more cost codes is missing.' This happens when a cost code hasn't been linked to a corresponding QuickBooks service item or was linked to a category instead of a service. To fix this, verify that each cost code in SynkedUP maps correctly to a QuickBooks service, save the mappings, and retry exporting.
6. Click "OK"
7. Click here to save.
8. To add a new Cost Code, click "Add Cost Code"
9. Enter the name of the Cost Code
10. Click here to save.
11. Open your QuickBooks Online account
12. Click "Products & services"
13. Click "New"
14. Click "Service"
15. Enter the name of the service
16. Click "Basic info"
17. Set the taxable status (if applicable)
18. Click "Save and close"
19. Switch to back to SynkedUP
20. Find the Cost Code to be linked and click the edit icon
21. Click "Link to QuickBooks"
22. Search for the QuickBooks Online service
23. Select the service to link to
24. Click "OK"
25. Click this icon to save.
If you have any questions, please don't forget to use our chat box in the lower right-hand corner of your screen. We will be more than happy to help you.
Best Practices for Cost Codes
Regularly Audit Cost Codes: Periodically review and update cost codes to align with your current business structure.
Use Descriptive Names: Create clear, descriptive names for cost codes to avoid confusion and ensure accuracy during integration.
Train Your Team: Educate your team on the importance of proper cost code setup to minimize errors. By following these best practices, you can ensure streamlined financial operations between SynkedUP and QuickBooks.