Integrate with Paperclip

Paperclip is a modern accounting solution built for technology startups. Just connect your bank accounts and SaaS apps and let Paperclip do the work. Their integrations and automations help you streamline the bookkeeping and accounting process, and their integrated suite of query tools gives you instant access to your financial data.

The Gusto and Paperclip integration allows you to sync payroll and contractor payments to automate the accounting process.

Connect to Gusto from Paperclip

  1. Sign in to Paperclip.
  2. In the left menu, go to the Settings tab. 
  3. Click Chart of Accounts.
  4. Click Assets.
  5. Make sure the bank account that Gusto debits from is on the list. If it's not, add it with these steps:
    • Click New Account in the top right corner.
    • For the account type, choose Assets. 
    • For the account category, select Bank Accounts.
    • Type in an identifiable name for the bank account linked to Gusto (ex: “Checking ****5904” 
    • Click Create.
  6. Next, you’ll connect Gusto to Paperclip. Head to the Payroll tab in the left menu. 
  7. Click Add your first provider.
  8. Enter your Gusto admin credentials and click Sign in
  9. Select the company account you’d like to connect to Paperclip. 
  10. Click Continue
  11. Next you’ll map your Gusto and Paperclip accounts to each other:
    • Select the bank account that Gusto debits from and click Next.
    • For each compensation type, choose its expense category and click Next
    • For each benefit or garnishment, choose its expense category and click Next
    • For each employer tax type, select its expense category and click Next
    • Payments and liabilities: for each type of payroll item not debited by Gusto, choose the corresponding liability account and click Finish

Paperclip will immediately import payroll journal entries from Gusto for you to review and add to the general ledger. Follow the steps below to review the journal entries. 

Data syncing: automatic syncs between Gusto and Paperclip run daily at 4pm PT. You can also run a manual sync anytime from Paperclip:

  1. In Paperclip, head to the Payroll tab.
  2. In the top right corner, click Refresh Data

Review your payroll entries

Once you’ve connected your Gusto and Paperclip accounts, Paperclip automatically imports payroll journal entries from Gusto. Follow the steps below to review journal entries and add them to the general ledger.

  1. In Paperclip, head to the Payroll tab. Synced journal entries that need review are listed by check date. 
  2. For any open payroll entry, click Review.
  3. Check the draft entry against the payment summary at the bottom. If you need more detail, refer to the detailed payroll summary in Gusto.
  4. Make any adjustments to the draft entry as needed.
  5. If there are any pre-populated lines with amounts of 0, delete them before submitting the entry.
  6. Click Add.
  7. Repeat these steps for the other payments in your list.

Once you’ve reviewed a payroll journal entry and added it to the general ledger, you can find its data in the Ledger tab. 

Paperclip imports new processed payments every day and automatically creates draft journal entries for you. The badge next to Payroll on the left menu displays the number of new payroll entries that need your review.

Review your financial reports 

Once your payroll journal entries have been processed, they’re automatically included in all queries and reports so you can review them anytime. You can run a number of reports from the Financial Reports tab in Paperclip — for example: 

  1. Go to the Financial Reports tab.
  2. If you’d like to see how your payroll spend has changed over time, follow these steps:
    • Click Profit & Loss.
    • Choose the date range you’d like to review.
    • Set the date range as All time and for the display period, choose By Month.
  3. If you’d like a report on what items have been paid and which are still outstanding:
    • From the Financial Reports tab, choose Balance Sheet.

Still need help? 

Contact Paperclip directly at [email protected] or (650) 398-2456.