QuickBooks Online 

Introduction 

RevRec seamlessly integrates with Quickbooks Online (QBO) to pull your ledger account configuration or sync invoice data from QBO into RevRec or post your journal entries from RevRec into QBO. All you have to do is connect the two systems using the sync interface and configure the connection flow based on your business needs.

Sync Overview 

RevRec supports two flows that can be configured with QBO as follows:

• Invoices: You can connect RevRec with QBO to pull your billing records.
• Journal Posting: Connect RevRec with QBO to post monthly journal entries to your ledger.

Configuring Invoices Flow 

If you are using QBO to send invoices to customers, you can connect RevRec and QBO to extract invoice data from QBO into RevRec. All invoices are tracked at a customer level when they are extracted from QBO. So it is important that the customer record in QBO matches with the customer record in RevRec. If sales orders are being synced from the CRM system this would be the customer as specified in the sales system.

Connecting RevRec with QBO for Invoices 

You can connect your RevRec site directly to QBO. Follow these steps to integrate the two systems:

1. After logging in to your RevRec site, navigate to the right environment in which you are integrating QBO.

2. Click Sync > Connect to other systems icon.

   

3. On the Connect your data pop-up, select Invoices > QuickBooks.

   

4. On the Configure QuickBooks screen, specify the following connection parameters:

   
   • Invoice Equals Contract: Enable this setting if each invoice corresponds to a contract. Use this setting to pick invoice data from QBO and create sales order records based on that data.
   • Use Customer Name Mapping: Enable this setting to map records based on the Customer Name field. You can use this setting to map the invoice data from QBO using the customer's name with sales order data pulled from CRM.
   • Ignore Items: This field is used to define item records for which invoice data needs to be ignored while pulling data from QBO. You can define a single item or multiple items to be excluded.
     Value for this field needs to be given in the format: ProductName1 | ProductName2 | ProductName3
   • Date Format: This field can be used along with the Invoice Equals Contract setting. You can select a particular date format from the drop-down list available for this field. RevRec will pick the data for the Service Start Date and Service End Date fields for sales orders based on the date format selected. RevRec looks for these dates in the description field of Invoices or Credit Memos created in QBO.
   • Customer Id: This field can be used to pick customer id value from any custom field defined in QBO.
   • Order Number: This field can be used to pick the order number values from any custom field defined in QBO.

5. Once you are done, click Connect your data to establish the connection between QuickBooks and RevRec.

6. You will see a popup window asking for login credentials of your QuickBooks account to be used for establishing the link.

Upon establishing a successful connection with QuickBooks, you will see a success message displayed as follows:

Execution of Invoices Flow 

After establishing the link as described in the previous section, click QuickBooks.

In the Quick Options tab, click Edit schedule to schedule an automated data sync from QuickBooks to RevRec in your preferred frequency. The invoice flow is executed automatically based on the schedule to sync data from QuickBooks.

Click the Run job option to execute the invoice flow that picks data from QuickBooks on-demand.

When you execute the invoice flow, you will see a job created on the Sync UI page in the Recent Jobs tab.

If you have not set any accounting period yet, click the Download file icon to download the file and upload it manually using the Import Data in Bulk option.

If you have already scheduled the automated sync, any jobs getting created will load the data automatically and you don't have to load the data manually. You can still download the data file created for a specific job by clicking the Download file icon.

• If you are using the 'Use Customer Name Mapping' setting, the downloaded excel file will contain the following tabs:

  • BillingSchedule: Displays all data pulled for invoices, and credit notes.
  • Product: showing product data picked from QuickBooks.
  • PendingData: This tab will only show up if there are some invoices or credit notes created for a customer whose name doesn't match with any Customer records in CRM.
  • ReconDetails_Invoice: This tab shows a reconciliation between data pulled from QuickBooks and data that is loaded in RevRec for each period on a customer-by-customer basis.
  • ReconSummary_Invoice: This tab shows a reconciliation between data pulled from QuickBooks and data that is loaded in RevRec grouped on a period-by-period basis.
    

• The downloaded excel file if you are using the 'Invoice Equals Contract' setting will contain the below tabs:

  • OrderDetails: Displays all sales order records created using the invoice data from QuickBooks.
  • BillingSchedule: Displays all data pulled for invoices, and credit memos.
  • Product: Displays product data picked from QuickBooks.
  • Customer: Displays a list of contacts from QuickBooks as customers to whom sales invoices have been sent.
  • ReconDetails_Invoice: This tab shows a reconciliation between data pulled from QuickBooks and data that is loaded in RevRec for each period on a customer-by-customer basis.
  • ReconSummary_Invoice: This tab shows a reconciliation between data pulled from QuickBooks and data that is loaded in RevRec grouped on a period-by-period basis.
    

Pending Data

Any invoice or credit memo created for a customer record, wherein the customer name doesn't match with records picked from other CRM systems like Salesforce or HubSpot, RevRec displays them as Pending Data.

Pending data can be cleared once you add/update the relevant customer record in QuickBooks to match with the customer data in CRM. The next Invoice job executed in RevRec will automatically remove the respective updated records from the Pending Data list.

Use Cases Supported 

RevRec supports the below use cases for pulling data related to Invoices, Credit Notes, and Adjustments from QuickBooks:

Invoice

• All sales invoice data gets pulled whether paid, partially paid, or unpaid.
• Invoices in Draft or Awaiting Approval status in QuickBooks are not pulled.
• Void sales invoice data are pulled.
• Deleted sales invoice data are not picked.
• Changes made to prior period or current period sales invoices are also picked.

Credit Memo

• All sales credit memo data gets pulled whether created directly as a sales credit memo or through converting a sales invoice to a credit memo.
• Credit Memos in Draft or Awaiting Approval status are not pulled.
• Deleted sales credit memos are not picked.
• Changes made to the prior period or current period sales credit memos are also picked.

Configuring Journal Posting Flow 

You can configure the journal posting flow to post your journal entries automatically to QuickBooks when you close an accounting period. Ensure that you configure your journal account mapping before posting your journal entries.

Connecting RevRec with QBO for Journal Posting 

You can connect your RevRec site directly to QuickBooks from within RevRec. Follow these steps to integrate the two systems:

1. After logging in to your RevRec site, navigate to the right environment in which you are integrating QuickBooks and click Accounting.

2. On the Accounting page, click the Connect icon.

   

3. On the Connect your data popup, select Journal Posting.

   

4. The Journal Posting popup displays all the available accounting systems for integration. Click QuickBooks.

5. Provide login details for your QuickBooks account.

6. On the Connect QuickBooks screen, specify the connection parameters.
   If you want to publish journal entries based on custom fields, you can optionally map the CustomField names defined in QuickBooks with those created in RevRec. Let's say you have defined a custom field by name of Region in QuickBooks, and the same is defined as Location in RevRec. In order to map these fields with each other, simply specify Region under the Location field. Map other fields as required.

7. Click Connect your data.

Once connected, RevRec will publish the Journal Entries created when you close the accounting period.

Execution of Journal Posting 

A message gets displayed on the Home page at the accounting period close for the initiation of the Journal Entries posting.

Once the posting flow is completed, you can check the journal entries posted in your QuickBooks system by accessing the Journal Report.