Learn how Synergy Connect works for the processes of transferring invoices, credit notes, payments, bills, and staff expenses data using Connect and your accounting system. Synergy Connect is available for MYOB AccountRight Live, Xero, and QuickBooks Online.
What is Synergy Connect?
Connect is an add-on for Synergy that allows you to transfer data between Synergy and your accounting system to avoid having the enter the same data manually in both systems. Connect is available for Xero, MYOB AccountRight Live, and QuickBooks Online.
The following data can be exported from Synergy using Connect:
- Invoices and credit notes
- Invoice payments
- Bills (supplier and subcontractor expenses)
- Staff expenses (cash and travel expenses)
The following data can be imported to Synergy:
- Invoice payments
- Bill payments* (Available for Xero Connect only*).
Why use Synergy Connect?
Transferring your Synergy data into your accounting system using Connect makes finalizing the end of month invoices, and reimbursing staff and suppliers for bills and expenses, quicker and easier to manage.
Connect workflow overview
In your accounting system you have a list of contacts that are used for invoices (customer contacts) or bills (supplier contacts). When getting started with Synergy you can choose to import your contacts from your accounting system. This will let you preview a list of your customer and supplier contacts, and select which items are to be imported to Synergy. In most cases the import will create company type contacts in Synergy, and where possible individual and personnel type contacts will also be created.
In Synergy you will create your invoices for a project. After you have created the required invoices you can then run Synergy Connect. The new invoice data found in Synergy will be transferred to your accounting system, and matching invoices are automatically created in your accounting system.
There are two options of how to transfer your invoice payment data between Synergy and your accounting system.
Enter the payments into your accounting system and allocate them against your Synergy invoices. Using connect you can transfer the payment data from your accounting system, and have the payment created in Synergy and automatically attached to the same invoice number.
Create your invoice payments manually in Synergy, as you don't have access to use the accounting system to enter invoice payments. Invoice payments entered in Synergy are allocated to invoices. The next time you run Synergy Connect the payments entered in Synergy will be transferred to your accounting system and allocated to the matching invoice number.
There are three different types of credit notes in Synergy, and each of these types can be sent via Connect to your accounting system.
When an invoice in canceled in Synergy, a cancel credit note is automatically created. For example a invoice may need to be canceled, if it was not created for the correct value, or the stage (phase) was invoiced earlier than the client was expecting. When an invoice is canceled, the revenue (and related timesheet or expense transactions) that were on the original invoice are returned to WIP. The credit note is transferred the next time Connect is run, and will automatically create a matching credit note for the canceled invoice in your accounting system.
A discount can be applied to a invoice in Synergy to create a credit note. For example an off invoice discount may be required for a Synergy invoice when the client is disputing if they should pay the entire invoice value. When a discount is applied to the invoice, a credit note is created for the fixed value which is deducted from the invoice. The credit note will be transferred to your accounting system the next time Connect is run, and will automatically create a matching credit note for the amount.
Use write off a residual invoice payment credit note option in Synergy, when a client has not paid the invoice value in full. For example a client has paid an existing Synergy invoice, and when the payment entered it is noticed that they have not paid the full invoice value. The original invoice value was $99.00, and the payment received was for $95.00. As the incorrect payment value difference is a under payment of $4.00, a company may choose to write off this outstanding amount.
The option to write off the residual payment value is selected, which will create a credit note for the under payment value for the chosen invoice. The credit note will be transferred via Connect the next time it is run, and will automatically create a matching entry in your accounting system.
In Synergy you will create bills for each supplier and subcontractor bill that you receive. The bills are entered in Synergy when you need to on-charge the expense to a client on a project invoice. The bills needs to be sent to Xero so that the bill can be paid. After you have created the required bill you can run Synergy Connect. The new bill data found in Synergy will be transferred to your accounting system, and matching bills are automatically created in your accounting system.
In Synergy your staff will enter cash and travel expenses for items that they need to be reimbursed for. The expenses are entered in Synergy to allow you to on-charge the expenses to a client on a project invoice. The expenses need to be sent to Xero as a bill, so that the staff member can be reimbursed for their out of pocket expense. After the required staff expenses have been entered you can run Synergy Connect. The new staff expense data found in Synergy will be transferred to your accounting system, and a bill is created for the staff expense in your accounting system to allow for the staff member to be reimbursed for their expense.