In summary Lightyear has a good integration with QuickBooks Online, with improvements on their 2020 roadmap.
It is ideal for any client that does not need to match purchase orders back to invoices, or to track inventory in QuickBooks Online. Whilst Lightyear doesn’t have a product/service integration at the moment, their typical customer is unlikely to be tracking stock in QBO, and more likely to be tracking within a separate and more sophisticated inventory system, for which Lightyear has numerous integrations.
Lightyear integrates with the Essentials or Plus version of QuickBooks Online, as well as the Simple Start version, although the latter only supports expense posting due to the limitations of Simple Start. There is no integration with the Self Employed version as QuickBooks do not permit integrations to this product.
Lightyear integrates with the following country-specific versions of QuickBooks Online: AU, UK, US, CA & Global.
Setting up the integration is easy and it integrates with everything you’d expect:
- Chart of accounts – you can choose which accounts you want to make available to select
- Suppliers – import existing and create new
- Customers – track against expenses, bills and supplier credit notes
- Tax – import existing
- Multicurrency support is available
In terms of accounts payable Lightyear will integrate with expenses, bills, and supplier credit notes. Attachments are passed through to QuickBooks alongside invoice data.
- Products & services integration
Currently Lightyear do integrate with product information but this is on roadmap for Q2 2020
- PO matching
Lightyear are currently building PO matching, they will sync PO data from QBO and match within Lightyear, then flip the PO within QBO
Tracking for reporting
- Customer/Project tracking is not available, and therefore making items billable is also not available.
- Class tracking is available at a line-item level, and you can set up default classes at a supplier level. Classes can also be split and automated rules at Line item level.
- Location tracking is available at document level (QBO limitation), and you can set up a default location for each supplier.
Other standout features
- Automatically applying categories on a line item level is a great feature and one that is not available with Receipt Bank.
- Line by line data extraction and rules on line level.
- Group structure capability and rules per location within a group structure.
- Automatic coding based on customer address for groups.
- Multi level approvals workflow.
- Automatic Supplier statement reconciliation.
Lightyear maintain limited self-support information for the QuickBooks Online integration. This can be found in their support centre.