Our in-depth connection with the accounting tool Octopus goes both ways: information from Teamleader is retrieved in Octopus. For example, payment data from Octopus is transferred to Teamleader. This ensures that you are immediately aware of the latest financial activities. In this article, we'll explain how you can connect your Octopus account and how the connection works.
The connection with Octopus exports invoices and credit notes from Teamleader to Octopus, so that the bookkeeping can be done there. With that purpose in mind, the customers linked to these invoices are first exported to Octopus. If an invoice is reconciled in Octopus, this is set as 'paid' in Teamleader. You manage ledger accounts in Octopus, and for each synchronization they are retrieved from there.
Don't have an Octopus account yet? You can purchase one by visiting http://www.octopus.be.
Depending on your situation, you need to complete one of the following 3 steps:
A. My Octopus account is empty (and my Teamleader account is or is not empty)
If your Octopus account does not contain any data yet, you first need to arrange a few things:
- Create a fiscal year
- Create a journal
- Check ledger accounts
First create a fiscal year by navigating to Management -> Fiscal years:
Create a new fiscal year by clicking the icon that is circled. The figure below contains an example for the 2015 fiscal year. Note that you cannot change the start date. The fiscal years must be sequential and without intervening periods. You may need to create additional fiscal years before you can create the year that you want.
Once you have created the fiscal year, you can create the journal. To do so, you must first check if the correct fiscal year is open (in the menu bar: Fiscal year - Open fiscal year) so that you do not create the journals in the wrong fiscal year.
You need two journals: one for invoices and one for credit notes. The easiest thing to do is to name the journal for invoices "V1"and for credit notes "V2". Always select "Sales Entries" as the Entry Type. Only journals of this type will be visible in Teamleader.
Next, check the accountancy accounts, which you can find under Management -> Accounts. The accounts that begin with 70 are retrieved from Octopus and, in Teamleader, you can indicate for each line of your invoices to which account they must be posted. Any editing of the accounts can best be done in consultation with your accountant.
B. My Teamleader account is empty and my Octopus account contains my customer database
While making the connection, you can very quickly and easily import your customer database into Teamleader by selecting the "Import companies from Octopus" slider!
C. Both my Teamleader account and my Octopus account contain my customer database
If you have a customer database in both Octopus and Teamleader, the import is somewhat more complex. To prevent creating double entries of companies in Octopus, all companies must first be imported into Teamleader. This is done by importing through the "Import companies from Octopus" slider with regard to the connection.
After importing, it is likely that many customers will have been duplicated in Teamleader. It is best to turn on the "Accounting package customer number" column in your Teamleader account so that you can see which customers have an Octopus ID and which do not. This column is also available for the invoices.
You can now merge the double entries manually or automatically in Teamleader:
Manually: enter the name of a company and if there are 2 results, select Actions -> Merge. You can also choose to merge through the details page of a company (under the small arrow at the top). Teamleader will automatically merge all fields, including the customer number. If there is a conflict, you will be given the option of selecting 1 of the 2 values.
If there are more than 50 duplicate records or so, it is often worth the trouble to merge automatically using the following (more complex) method:
You can use the merging mechanism built into our CSV import to merge the companies automatically and then merging the remaining companies (of which the name, for example, differs slightly) manually. Achieve this by following the following steps:
- Create a segment that contains all of the companies that you just imported. All companies that were imported have automatically been given an "Octopus Import" tag so it is better to create a segment with the rule "Tags contain Octopus Import".
- Export this segment to Excel.
- In Teamleader, perform the bulk action "Delete" on this segment: this will again delete all companies.
- Delete the unnecessary columns from the file to avoid any older data from Octopus overwriting newer data from Teamleader. The necessary columns are name and accounting package customer number and we strongly advise importing the VAT number as well.
- You can save the Excel file as a CSV file and import it through our CSV import tool. Therefore, only the Name, Accounting package customer number and VAT number fields are necessary.
- If Teamleader asks for a criterion for merging, you can do this on the basis of name (if the name rarely differs) or on the basis of a VAT number (if most of the VAT numbers are entered). You can try different criteria and see how many new companies will be added through the preview function. We want this number to be as low as possible.
- Import the data.
- All edited companies are companies that have now been given the correct customer number.
- All added companies are companies that could not be matched. You will have to go through these manually and merge them, as we described earlier.
If everything has been performed correctly, you will see that the "Accounting package customer number" column has been populated with regard to all your invoices. If this is not the case everywhere, compare that customer with the Excel file that you exported. If the customer is not present there, the customer will simply be created in Octopus during the next synchronization.
The actual connection with Teamleader
In Teamleader, click your name at the top on the right and select Marketplace and Octopus. After entering your username and password, connect the created journals to the invoices and credit notes. Enter the start date of the synchronization, indicate that you want to import the companies from Octopus and hit save.
If everything is performed correctly, the VAT percentages in Teamleader and Octopus will have been correctly connected. If necessary, you can still indicate that specific accounts must be selected automatically when specific VAT rates are used. We advise setting the automatic synchronization only after the connection has been successfully established.
First click Invoices in the navigation to synchronize. You will see that a synchronization symbol is now being displayed at the top on the right. If you click it, the synchronization with Octopus will be executed. After a while you will see a notification with the results of the synchronization. If you experience any problems, first check these notifications. The synchronization entails both the synchronization of customers who have invoices or credit notes, the (imported) invoices and credit notes themselves and the retrieval of information about payment (reconciliation) from Octopus.
After you have run the synchronization, you can view the posted invoices in Octopus by selecting Accounting -> Sales Journal. Note that the sales journal may not be open if you are running the synchronization because otherwise the date will not be transferred.
You can also import CODA files from your bank through Accounting -> Import -> CODA Files, and next, match those payments with the invoices through Accounting -> Reconcile -> Reconcile customers. Invoices that are reconciled in Octopus will also automatically be set as paid in Teamleader.
Note: when an invoice has received the status 'Paid' in Teamleader, it will also receive the status 'Paid' in Octopus. However, when you change the payment status in Octopus, the status in Teamleader will remain 'Paid' unless you change this manually.
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