With the Rise journal entry solution, you can create journal entries from Rise Payroll to QuickBooks Online by mapping payroll instructions with your chart of accounts from QuickBooks Online.
Before you begin setting up the accounting integration with QuickBooks Online, we recommend involving your organization's payroll administrators, accountants, and bookkeepers in the process.
To make the setup process even smoother, we recommend becoming familiar with your Rise Payroll account, including all payroll instructions and service charges.
We also recommend reviewing the chart of accounts within your QuickBooks Online account.
How to connect Rise and QuickBooks Online
Use your Rise Payroll username and password to sign in. When prompted, sign in to QuickBooks Online using your QuickBooks Online credentials and select the organization you want to connect to.
Next, we have the journal entry settings. Using the dropdown, please select your payroll clearing account. Since all payroll instructions and service charges require a debit and a credit account mapping, we will use this account to pre-fill credit mappings for your convenience. You can change this account for individual items during the mapping portion of your setup.
How to map accounts
To map Rise Payroll instructions with the chart of accounts from the QuickBooks Online account:
- Click on a payroll instruction or service charge. Edit the mapping using the detailed view on the right.
- Select which account to debit.
- By default, the credit account will be the payroll clearing account you selected in settings but you can opt to change it. Changing it here will only apply to this instruction or item; the default will remain the payroll clearing account. The mapping will auto-save.
Payroll instruction or service charges that are not mapped will show in your detailed report as “No allocation”, but will not be sent to QuickBooks Online.
You can choose to exclude payroll instruction or service charges from journal entries.
How to verify your data and send to QuickBooks Online
Once you’ve mapped all payroll instructions or service charges you wanted to map, click on Run report.
Select the pay run number and pay run year to send to QuickBooks Online.
Our system checks if the invoice from Rise Payroll matches the total amount of money credited to your payroll clearing account.
You’ll see a confirmation message if the report balance matches the related invoice. Click Send journal entry to QuickBooks Online.
If the report balance does not match, you have the option to download the report and review details, or you can choose to send to QuickBooks Online anyway. Click Send journal entry to QuickBooks Online anyway.
Once sent, the journal entry is available to review under reports, journals.