There are two different workflows a client may experience when utilizing Smart Connect and a 3rd party application.
To ensure you experience the best in class categorization for your clients' books, it is important to understand the workflow transactions will follow when your client is using Smart Connect and 3rd party applications.
There are two different workflows a client may experience when utilizing Smart Connect and a 3rd party application:
- Smart Connect with Integrated 3rd Party Application via Automatic Sync
- Smart Connect and Integrated 3rd Party Application via Manual Sync
As a reminder, Smart Connect allows a client to have near real time bookkeeping by allowing the artificial intelligence to automatically post transactions that are categorized with a 98% or higher confidence rating, via AutoPush. The reason there are two different workflows when a client is using a 3rd party application is to account for potential timing issues that may occur, raising the risk of duplicate transactions being posted to your client’s general ledger.
Below we will explain both workflow scenarios. If you have questions on how or why your client is set up with a particular workflow, you can discuss this with your Accounting Expert.
Smart Connect with Integrated 3rd Party Application via Automatic Sync
If your client has an integration that automatically syncs the 3rd party application transactions, as they occur, to their general ledger you will still be able to use AutoPush without the worry of duplicate transactions being posted to your client’s general ledger. If a time should ever occur when a duplicate transaction appears we may discuss the use of Manual Push with your team for this particular bank or credit card account.
Smart Connect and Integrated 3rd Party Application via Manual Sync
If your client is not able to take advantage of an integration with automatic sync to the 3rd party application and those transactions require manual upload or manual push we encourage the use of Manual Push.
Manual Push allows the Smart Connect bank feed transactions to remain in an unposted state until they are matched and your accountant manually posts them to your client’s general ledger. This will mitigate the risk of duplicate transactions posting to your client’s general ledger.
For example: if a Smart Connect bank feed transaction needs to match to a Dext transaction that has yet to post to your client’s general ledger, the Smart Connect bank feed transaction will remain in the Needs Review tab of Transaction Manager until the Dext transactions post to your client’s general ledger and the artificial intelligence or your accountant can make the match. Once the match is made, your accountant will post the transaction to your client’s general ledger.