Decipher has a direct connection to Quickbooks and Xero online versions so that accounting data can be viewed in Read-Only format for prospects who are applying for financing. Please see below for common questions.
How does it work? At the point of application, clients are able to connect their accounts by clicking on the Icon for QB or Xero within their application. This takes them off their application momentarily and directs them to their login page for Quickbooks or Xero. They enter their username and password and will immediately connect. They will receive a message indicating success. That's it! This window will close and they will be back in their application to continue the process.
How long does it take for the banking information to appear in Decipher?
It takes just a few minutes to display the accounting information. You will know they have connected as you will see financial information pop up in the dashboards you have selected to display relating to financials.
How do I obtain the Balance Sheet, Profit & Loss & Ratios Data?
Click on the desired Tab, for example "Balance Sheet" and then click the button "Get Report" which will populate the financials.
Do I have to Evaluate a client in order to see accounting information? No. Accounting connections happen in minutes and financial data will be displayed immediately.
Privacy & Security
Decipher is integrated with Quickbooks and Xero. When users enter their usernames and passwords, they are doing so directly in Quickbooks/Xero with the security and privacy offered by both. Decipher does not store any usernames or passwords. Applicants find connecting very convenient to avoid having to send manual statements and spreadsheets through insecure methods. More security information: Quickbooks Security Information. Xero Security Information.
What does the process look like to connect to Accounting systems for applicants?
Step 1: Click on Quickbooks or Xero. The applicant will be taken off Decipher momentarily and taken directly to Quickbooks/Xero to enter their credentials.
Step 2: Enter Credentials. Follow the steps to connect the account and click Next. Once finished, Quickbooks will close and the applicant will be back in the application.
Quickbooks:
Note: If you the prospect is signed up to receive Quickbooks emails, they should receive an email confirmation indicating that the connection was successful.
Xero:
🎉 Step 3: Once credentials are entered, the applicant should get a message saying the connection is successful.