Many businesses rely heavily on Excel for a financial evaluation. And, QuickBooks is aware of this dependency of Excel for creating formulas to drive business analytics and forecasting.
As a result, QuickBooks has planned to release two-way syncing of data between QuickBooks Online Advance and Excel. This scheduled release is planned for early 2022. An acquisition from DataDear by QuickBooks will make this data transfer possible.
Many analysts utilize Excel as a financial analysis tool for building forecasts, combined reporting, and monitoring data; therefore, the improved sync appears promising and intriguing.
While we have not seen or tested this integration, obviously the announcement of this data sync that will create enhanced convenience for importing and exporting data between QBO-Advanced and Excel is exciting news. But Intuit has also announced that 'custom reports' will be part of the data sync, designed to allow frequently monitored data to be mapped and exported.
At this point it isn't clear exactly what data will be accessible to be pushed into QBO-A using this method, or what control users will have over import mapping.
As Intuit releases additional information, Insightful Accountant plans to share what you can expect from the new QuickBooks Online Advanced integration. So, please stay tuned.