1. Log in to LoopAI: Use your username and password to access the Loop platform.
2. Navigate to Software integration: Navigate to Balance --> Journal Entry Automation --> Journal Settings → Integrate Bookkeeping Software
3. Initiate QBD Integration
- Click on Custom under the Software Integrations section.
- A "Create Custom Company" prompt will appear.
- Select QuickBooks Desktop as the provider.
- Enter a recognizable name for your company to help identify the setup in the Loop Dashboard.
4. Upload Classes (If Applicable)
If your business uses Classes in QBD, follow these steps:- Exit the integration wizard and navigate to Balance → Journal Entry Automation → Journal Settings, or else the wizard will navigate you to Map locations Locations directly (Step 5)
- Locate your connected software name, click the three vertical dots next to settings, and select Upload Classes.
- An "upload accounting classes" screen will open up. Click Download Classes to get a sample sheet with the required headers.
- Here's a sample of what the file looks like. Fill in the required columns and upload the completed file.
5. Map Locations
- Select the locations in Loop that you want to map to your QBD account.
Map each location in Loop to the corresponding Class in QBD using the drop-down list (if applicable)
Note: Journal Entries will be generated for the mapped locations. Ensure that the software is set to the QBD account you have created - Once all locations are mapped, click “Save” to finalize the setup.
6. Configure Chart of Accounts & Journal Type
- Click Next in the Setup wizard or Select Map Chart of Accounts or navigate to: Balance → Journal Entry Automation → Journal Entry Settings → Map Chart of Accounts.
- Ensure that the software is set to the QBD account you have created
Click Download Chart of Accounts to download a sample GL codes sheet.
Here's a sample of what the file looks like. The file will contain headers. add the relevant GL codes and save it and upload the updated file using the Upload Chart of account option.
7. Map GL Codes to Transactions
- Scroll down to the Transaction/Fees/Adjustments section.
- Use the drop-down menu to assign the appropriate GL code to each 3P category.
- Click Save to apply the changes.
Need help with transaction mapping? Refer to this guide for details on fees and adjustment memos used in the Chart of Accounts.
8. Download Journal Entries for QuickBooks Desktop
- Navigate to the Journal Entry page.
- Use the dynamic filter to select the required period.
- Click the Download button to export an IIF file for import into QBD.
