Pre-Setup ConnectWise Expenses > Step 3: Setup Wise-Sync Expense Connect Linked Accounts

Step 3: Setup Wise-Sync Expense Connect Payment Option in Wise-Sync

NOTE: This option will only be available where you have added the Wise-Sync Expense Connect© to your account. Wise-Sync Expense Connect is a feature licensed by linked member. You only pay for the number of members linked to an auto-pay feature.  You can add a Wise-Sync Expense Connect member at any time by upgrading your plan from the Account Screen in Wise-Sync.

Note: This feature was previously called Wise-Pay (Expenses). It as been renamed to Wise-Sync Expense Connect as it represents the function more clearly.

Visit our website or contact for more information on how to activate this feature.

What is Wise-Sync Expense Connect©?

Wise-Sync Expense Connect©  is an innovative feature designed to provide simplified payment processes and matching against expense transactions that are to be reconciled at bank. Xero and QBO provide direct data feeds from most major banking institutions with many others provided through the Yodlee data provider services. Wise-Sync Expense Connect automatically pays the expense using the nominated credit card / bank account defined for each Member. By automatically allocating the expense payment, bank reconciliation processes will be greatly streamlined by allowing for bank payment allocation and reconciliation at the time of when a recorded has been synced from ConnectWise.

The following outlines the process:

  • Expense is entered by a ConnectWise User.

  • Expense is approved as part of the Expense Approval Process.
  • Expense is Synced to Xero by Wise-Sync as an Approved Purchase Bill.
  • Payment is automatically applied to the Payable Invoice in Xero, to the linked bank account or credit card as defined in the Wise-Sync Expense Connect options grid.
  • Transaction is Auto Matched in the Bank Account Reconciliation Screen

And all of that just happened with the Press of a Button!

Activating Wise-Sync Expense Connect© in Wise-Sync:

1. Log into Wise-Sync and click on the "Companies" link at the top.

2. Click on the Company that you wish to edit from those listed.

Enabling Wise-Sync Expense Connect for Specific Members

1. Click on Wise-Sync Expense Connect Options Button

Complete Items 1 - 5

  1. Select  the ConnectWise Member That you wish to configure Wise-Sync Expense Connect for.
  2. Select to Company Payment Type:
    • Company Credit Card. Provides you with an option to match specific Credit Card accounts with Specific Members
    • Company {Account} allocate all payments to a specific bank account, including options such as Petty Cash.
  3. Select to Action:
    • Offset Account (Paid Bill) - Offset provides for the simplest management of expenses, with all expenses allocated to an Unclaimed Expenses Account (Liability). This account can then be used to clear payments made for expenses from reconciled accounts, or manual journals.
    • Draft Bill all Company Paid expense claims will be created in Xero as Draft Bills, and will require that they are approved in order to be paid.
      Invoices will not appear in a "Accounts Payable" list until approved.
    • Approved Bill all Company Paid expense claims will be created in Xero as Approved Bills, and are available for immediate payment.
    • Payment Account allows selection of Xero/QBO Accounts from Item #4, which is only visible when this action is selected.
  4. Select the Xero/QBO  Bank Account or Credit Card. When selected, non-reimbursable expenses paid by this payment type will be automatically paid to this account.
  5. Press Save

Note: You can add as many "Company Payment" types as you so wish in ConnectWise > Setup Tables > Payment Types. Ensure that when you update the payment types that you also update the same in Wise-Sync under the Account > Expenses settings.

Expenses are Now Enabled in Wise-Sync, Next Step - How to update GL Entries from Accounting Interface

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