Question:
Why can't I automatically add assets from QBO? I have connected AssetAccountant™ to my QBO file and followed all the instructions to setup asset groups. I click on "Add assets from QBO" but nothing shows up. If QBO and AA are connected, shouldn't I be able to automatically see new assets in the asset group?
Answer:
Assuming that you have already integrated AssetAccountant™ with your QuickBooks Online account, the way AA picks up new 'draft' assets is by querying the Clearing Accounts that you've mapped to AA for each asset group.
These assets will appear in the 'From QuickBooks Online' tab in Add Assets.
So as long as you are coding the Bank Reconciliation to any of these Clearing Accounts, AA will detect the new asset, and your next journal will clear this out and record the Asset in the Cost account that you've specified.
The alternative is using the Import Assets function in the 'Bulk Acquisitions' tab of Add Assets.
Actions:
- In AA, check the General Ledger Account mappings in your Asset Groups and ensure that the Clearing Accounts are pointing to the accounts where you expect Fixed Assets to turn up.
- Existing accounts in QuickBooks Online must be identified as Fixed Assets accounts. AA can only query these types of accounts. Here is an article that may assist: https://quickbooks.intuit.com/learn-support/en-au/help-article/business-assets/set-asset-account-quickbooks-online/L0dQgTiSF_AU_en_AU
- Ensure your clearing accounts are setup as parent accounts, NOT sub-accounts or assets assigned to them may not be recognised in AssetAccountant™.
- Ensure that there's at least one Asset sitting in Clearing in QuickBooks Online before testing the "Add Assets from QBO" feature again.
Here is a short instructional video re adding assets from our integration partners including QuickBooks Online: