Ledgersync to now offer a database of default global rules/vendors and global categories
The Global Rules Engine is really an impressive piece of software because it's changing the way bookkeeping is done in QBO.
QBO And Setting Up Rules:
Today in your firm, each bookkeeper has to manage their own set of clients and books. In other words, the work of one bookkeeper into maintaining a client's books is only being utilized and captured for that client and that client alone. Often rules are repetitive, (take Office Depot, American Airlines etc..) and typically are categorized in the same way, but because QBO is designed to work at a client level you can't share those rules.
In other words, you the firm owner, are losing wasted "energy of employees" doing repetitive work for each client because of QBO's design.
Ledgersync and Setting Up Rules:
Consider this, within Ledgersync's software, the bank connections are being made and Ledgersync is capturing the bank statements, transactions and checks.
Ledgersync can also connect to QBO and fetch via the QBO API, each client's Chart of Account and Vendor list.
A New Concept..
Would it not be be a game changing idea if Ledgersync can allow you to create Rules at YOUR COMPANY LEVEL so that rules that one bookkeeper creates can be shared across all clients? More over when the rules are created they are linked to the client specific GL so that the "categorized transactions" can be pushed into QBO and all bookkeeping is done!
Hence the concept of the Ledgersync Global Rules- Team members in your firm can create Global Rules and those rules can be applied to all clients. Each client transaction requires this flow ; a Global Rule Setup----> Global Category (A Ledgersync Master GL)------> QBO GL Code (so that Ledgersync can push the categorized transaction into QBO).
Taking It To The Next Level:
What if Ledgersync can provide a default list of several hundred common sense rules saving you set up time, for example (Starbucks is a Meal Expense). It's turning on hundred of proven/tested rules that have been pre-fabricated for you!
This is what Ledgersync is doing now, setting up "Default Global Rules, Default Global Vendors and Default Global Categories". Immediately, when you accept the default global rules your bookkeeping is jumping 10 steps a head. You can pick and chose which global rules you want and modify them as you see fit. The point is to get you to the finish line faster.
For more info see the Ledgersync website and book a 15 min slot with Maurice- Enterprise Support.
