Qvinci offers the ability to sync financial data via Excel for those users who do not run an accounting system with which Qvinci can connect. For a list of compatible accounting systems, view this article.
Excel Sync Method Basic Rules
- Each Excel Sync Entity must generate its own Excel template in Qvinci. As a security precaution, templates cannot be cross sync'd between Entities. For example: a template generated from Entity "XYZ Door" cannot be sync'd to Entity "ABC Car", even if the template has been renamed and has the same Syncing User. A template can only be sync'd to an Entity if it was generated from that Entity "Excel Export" tab in the Qvinci dashboard.
- The User may opt to store the Excel template on their computer for future syncs, or they may delete it after a sync. Financial data that has already been sync'd to an Entity will appear in the template each time the template is generated.
- Regardless of Step 2 above, it is ALWAYS recommended that the User copy and paste all financial data into the template EACH time a sync is performed, versus simply adding the latest month's data in the next column. This ensures all previously sync'd data is up to date (should changes have been made since the last sync date) and that the chart of accounts is correct (if a new account was added "this month").
- When a calendar year rolls over, the User will be prompted to generate a new template before they can sync again. This allows for "current year" tabs to populate in the template so that the user can begin syncing current year data. Prior year(s) data will be populated in the template upon generating.
Excel Sync Method Available Reports
Available reports are:
- Profit & Loss Monthly
- Peer Benchmarking
- Balance Sheet
- Sales by Customer
- Expense by Vendor
- AR Aging
- AP Aging
Not Seeing Balance Sheet Tabs on Excel Sync Template?
Download a new Excel Sync template to get the new “BS” Balance Sheet tabs. All previously synced data will be in the new template. You must be the Entity Syncer to download the Excel Sync template.
Having Trouble Syncing via Excel Sync?
See the “Intro” tab of Excel Sync template for specific details on how to format the data to sync to Qvinci. You must be the Entity Syncer to download the Excel Sync template.
Excel Sync Method and Currency Conversion
Qvinci will not be able to support currency conversions for Excel Sync Entities. The currency of the financial data entered into Excel will be the currency that is shown when reports are run. Therefore, it is important that Excel Sync Locations all enter the same Home currency as that of the Qvinci Company. This will allow for accurate consolidation of financials in Qvinci.
If an Excel Sync Entity is utilizing a different currency than the Qvinci Company, that Entity would need to be set up in a separate Qvinci Company than the others, since currency conversions cannot take place for Excel Sync Entities.
Excel Sync Method and the Qvinci Standard Chart of Accounts
Just like a QuickBooks syncing Location, the whitelist/keyword terms from the Qvinci Standard Chart of Accounts will be used when an Excel Sync Entity syncs into a Qvinci Company. If no matching keywords can be found when the Excel Sync Entity syncs to a Qvinci Company, the Excel Sync account will slot into an "unmapped" category of the Qvinci Standard Chart of Accounts.
To learn more about how the SCoA (Standard Chart of Accounts) functions please visit this article.