This feature is available for an additional charge. Contact Airbase Customer Success team to learn more.
Airbase will sync ledger entries for reimbursements with your General Ledger. This will save the time it takes you to book employee reimbursements individually with your GL.
Users need Manage Accounting User Permission to sync Reimbursement transactions with your General Ledger.
When the funds are transferred from your bank account to your employee’s account, Airbase will create two ledger entries:
- The reimbursement-related ACH load.
- The actual reimbursement payout.
The reimbursement-related ACH load ledger entry will be automatically synced with the GL.
However, you need to manually sync the actual reimbursement payout ledger entry with your GL. This gives you an opportunity to do a final review of the categories and tags before syncing into your GL.
- Go to Accounting > Ledger Entries > Pending Review.
- Use the Filter option, if needed. Reimbursement transactions will be recorded with ACH Transfer as their payment method.
- Look for transactions with REIMBURSEMENTS label.
- Once you find the entry, click Edit.
- Update the following details:
- Transaction Tags.
- Entry Date: Date the reimbursement transaction was initiated. This is the date of final approval of the reimbursement request.
- GL Employee Name (For NetSuite): Airbase books the reimbursement under each employee. Enter the employee’s name on the GL Employee Name field. Airbase will fill in this field if the employee uses the same email address on both Airbase and NetSuite. You can search for existing employees by name and select an existing entry as the GL Employee Name. If this is the first reimbursement transaction for the employee, Airbase will create a new employee record for that user in NetSuite.
- GL Vendor Name (For QuickBooks Online): Airbase books the reimbursement under each employee and QuickBooks Online records each employee as a vendor. Enter the employee’s name on the GL Vendor Name field. Airbase will fill in this field if the employee uses the same email address on both Airbase and QuickBooks Online. You can search for existing employees by name and select an existing entry as the GL Vendor Name. If this is the first reimbursement transaction for the employee, Airbase will create a new employee record for that user in QuickBooks Online.
- Click Save to save the changes for now.
- Click Save and Sync with <the name of your GL> to initiate a GL sync.
You cannot edit the reimbursement amount while updating the ledger entry.
The ledger entry for ACH load will be synced into GL when the load completes in three business days.
The final payment transaction to the employee will be linked to the reimbursement ledger entry once the employee payment is complete in one business day after the ACH load completes.
The ledger entries for reimbursements that have been synced with the GL will be listed on the Accounting > Ledger Entries > Payables Synced page.
Airbase initiates reimbursement and creates the Airbase transaction on the same day the approvals come through. The corresponding ledger entries will be created immediately after the ACH load and reimbursement completes.
If multiple reimbursements are approved for an employee on the same day, Airbase will batch the reimbursements to one single transaction.
For example, Jason requested reimbursement for two expenses $23.32 and $12.34. The requests were approved on Mar 4, 2021. Airbase will batch both the requests together and create one ledger entry for $35.66. The ledger entry for reimbursement is created on Mar 4, as soon as the batching is complete and payment is initiated.
You can set Categories, Line Tags, and Transaction Tags for the transactions. The amount will remain uneditable. Both the transactions will be synced into a single expense report (NetSuite) or vendor bill (QuickBooks).