facebook_pixelConnecting LedgerSync + Accounting CS | Whitepaper

LedgerSync + Accounting CS | Whitepaper

accountant-working-at-her-desk

LedgerSync + Accounting CS = Time Saved & More Profits

LedgerSync can drastically reduce time spent performing data entry in Accounting CS.  This whitepaper will show you how step by step.

What would you do with more time?  Market to more clients?  Delay hiring another staff person?  Spend more time with family or on the golf course?  At the end of the day, the profession of accounting revolves around time. The more work you can do in a given amount of time leads to more profits, more clients, and more freedom.  This is at the heart of what LedgerSync does and this software will cut the time you and your staff spends on bookkeeping by more than 60%.

 

Easy As Clicking A Button

When accountants offer bookkeeping services, there is a range of duties that could entail; Reconciliations, data entry, financial statement preparation, accounts payable, invoices, and more.

LedgerSync can help you with all of it, and the secret is making it simple.  Once you setup a client in LedgerSync the hard part is done and the software can take over.  Instantly you are given access and insight to the bank transactions, check and deposit images, and bank statements for each client.  No more waiting for information and no more delays from the client.

LedgerSync makes it simple with the step by step client onboarding wizard.  Both the client and the accountant can setup banks, and once in the LedgerSync system, the software helps you manage that information like never before.  No more remembering passwords or wondering when your client will bring in bank statements.  Now all of that is in LedgerSync waiting for you.

Then when you need to code checks and deposits, or sync the bank information to your bookkeeping software all you have to do is click the “Export” button and the transactions move over.  Accuracy and speed are your new benefits while you are using LedgerSync.

 

Accounting CS Has The Tools You Need

As an Accounting CS user, you will find these tools to be seamlessly integrated and easy to combine.  LedgerSync was built specifically with Accounting CS users in mind.  Both Accounting CS Desktop and Accounting CS Hosted can be configured to accept the LedgerSync Bank Feed and in no time you will be moving through bookkeeping faster than you ever have before.

Probably the most powerful features comes when you combine LedgerSync’s ability to manage bank information with Accounting CS coding engine.  This feature will code your transactions based on the name or phrase in the payee section of the transaction (or customer name if it is a deposit).  Below is an image of Accounting CS coding transactions:

 

CS Accounting

 

In the following pages I will show you step by step how this is accomplished and how easy LedgerSync makes it.

 

Setting Up LedgerSync

Setting up LedgerSync is simple, you will need the following information:

  • Client Name & Email
  • Client Bank Username/Password

 

To get started, first open LedgerSync and open the “Cilent Management” Icon.  Select “Add New Client” and you are brought to this screen:

 

ledgersync login

 

Here you will enter the clients name, email and select one of the options to email the client.  Notice the 4th option is “Do Not Send Invitation Email” , use this if you already know your client’s bank login information.  If not, send an email to the client using the system so the client can setup their bank for you.

 

Now that the client is setup and their bank information is in LedgerSync, you will see a screen that looks like this:

 

client setup

 

Here you can see the balances in each bank account or credit card account.  The transactions, check & deposit images, and bank statements are waiting for you in the top tabs.  Next you will go to the transactions tab to begin reviewing the data before you sync to Accounting CS.

 

On the transactions tab, each transaction for a given account is listed by date, and you can review the descriptions and modify them to your liking.  See below:

 

 

You can do the same kind of modifications to checks, only this time you have a powerful tool to help you called “Side by Side.”

 

side by side

 

Check coding is easy when you have a picture of the check next to you whenever you want it.  Once you have all of your checks coded and your other transactions the way you want them, it is time to sync them to Accounting CS.

 

To do this, you click on the “Export” button and select the “To OFX” Option:

 

Sync To Accounting CS

Now you are ready to bring the transactions into Accounting CS.

 

  • To begin, open Accounting CS and the client you would like to work with.
  • Next open the “Bank Reconciliation” screen
  • Find the “Bank Statement Import” Tab

 

bank tab

 

Now we need to browse for the OFX file we just created in LedgerSync.  Click the browse button and find the OFX file

 

 

When you open the file, you will instantly see the transactions populate in the area at the bottom called “Unmatched Transactions”.

 

 

This is good, now expand your rows in “Unmatched Transactions” so you can work with them.

 

Now that the rows are expanded you can see the date, amount, descriptions, and posting period.  All you have to do is start coding the transactions that Accounting CS does not know how to code yet.

 

After you do this once, Accounting CS will remember your selections and code for you the vendors it remembers…

 

 

Remember that you have to click the “Adjustment” checkbox to enable coding of the GL Column.  Code each of the transactions how you want them and move on to “Completing the Sync”

 

Completing the Sync

Once you have coded all of your entries, all you need to do to complete the work is click the “Post Adjustments” button and your transactions are now in your GL.

 

complete the sync

 

As you can see, using LedgerSync + Accounting CS will greatly reduce:

 

  • The time you spend on data entry
  • Data entry mistakes and errors
  • Chasing client for bank information
  • Billing delays for imcomplete work

 

Please visit www.r8u.501.godaddywp.com to sign up for a 14 Day Free Trial!

LedgerSync Accounting
LedgerSync Accounting
Ledgersync is a Los Angeles based company that provides proprietary software reshaping the bookkeeping industry. Ledgersync has an off the shelf product for CPAs, Accountants, and Bookkeepers as well as an easy to set up API for any financial service looking to access client financial data.
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