Q: "I am having issues connecting QuickBooks Online/Xero to Budgeto"
A: This can happen for one of 3 reasons:
- There is a technical issue on QBO/Xero's end.
Sometimes, their platform might be down, which can halt the synchronization process. Although unlikely, it still happens in the software industry. Make sure to check their social media accounts for updates.
- You do not have the permission rights to connect to the their platform. Make sure with your employer that you are approved with "manage" rights to use the QBO/Xero platform.
- There is an issue in the Budgeto and QBO/Xero communication link.
There are three errors that can arise from the use of HISTORICAL DATA. If you have one of the following three errors, this means that there is a risk of a corrupted balance sheet and you need to correct it.
Error 1 – The Historical Balance Sheet does not balance!
The Historical Balance Sheet must always be balanced. The Total assets line (1) must be equal to the Total liabilities and shareholder's equity line (2). If it is not balancing, you will see a red cell in the Validation line (3) with the problematic amount. This problem does not happen because of Budgeto, it just means that you are not retyping your data correctly!
Budgeto will always let you save your Historical Balance Sheet even if it does not balance but will show you a warning (4).
You will still be able to work your on budget, but until you have resolved this problem, you will not be able to export your budget to PDF or Excel. If you try to export it, you will get the following error message (when clicking on the Export menu).
Error 2 – Retained earnings difference
To be able to access the REPORTS menu (1), you must ensure that the amount in the Retained earnings (deficit) line (2) in the Historical Balance Sheet (3) is the same as the amount in the Retained earnings (deficit) at the end line (4) in the Historical Profit and Loss (5).
If these amounts are different, you will still be able to work on your budget, but you will not be able to access the budgeting reports. If you click on the REPORTS menu, you will get the following error message.
Error 3 – Error filling forms
To ensure the continuity of calculation of your existing assets and liabilities, you must make sure that you have filled out the forms for the following four accounts in your Historical Balance Sheet:
- (1) Capital assets;
- (2) Investments;
- (3) Long-term debt;
- (4) Share capital.
If you don't fill the form correctly, you will have red cells in your Historical Balance Sheet. For example, if the amount in a form (6) is different than the amount in the Balance Sheet (6), you will have a red cell. If the month in the form (7) is different then the last month reported in budget (7), you will have red cell.
If you have red cells in your Historical Balance Sheet, you will still be able to work on your budget, but you will not be able to access the budgeting reports. If you click on the REPORTS menu (1), you will get the following error message.
For more information on how to correctly fill out the forms in the Historical Balance Sheet, see the following article:
- How to fill the 4 forms in the Historical Balance Sheet
Need help? These resources are for you!
1- There is a search bar at the top right of the screen, use it often!
Use words that you see on the section you are dealing with in order to search for related articles in our Knowledge Base.
2- If you haven't found an answer to your question, create a support ticket and our team will find an answer for you:
Click here to create a new ticket for help
3- If you have any other questions about Budgeto, write us an email at: email@example.com
Happy Budgeting and know that we are here for you if you need help!
The Budgeto Team
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Related Articles (please refer to the links below)
- About the HISTORICAL DATA menu
- How to import HISTORICAL DATA into Budgeto?
- How to LINK QuickBooks Online (QBO) to Budgeto?
- How to edit your MAPING with QBO?
- How to enter your HISTORICAL DATA Manually?
- How to fill the 4 forms in the Historical Balance Sheet?
- How to use the Manual Variations menu?