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QuickBooks Online (QBO) Integration Checklist
The TPS Cloud Axis and QuickBooks Online synchronization process offers a powerful solution for streamlining your accounting operations. By seamlessly syncing accounts receivable transactions and client information, you can eliminate duplicate data entry and save valuable time and effort. Understanding the limitations, requirements, and mapping control will help you make the most of this integration. It is important to have a clear understanding of how the synchronization process works between TPS Cloud Axis and QuickBooks Online (QBO). This post aims to provide you with the necessary information to grasp the key aspects of this process. We will explain the mapping of data, the limitations, and the initial integration checklist that will help you make the most of this synchronization.
Mapping of Data:
During the initial synchronization process, all mapping is determined and controlled by your firm. TPS Work Codes are mapped to corresponding QBO Products and Services, and the Chart of Accounts. This mapping allows for seamless transfer of data between the two systems. TPS drives this mapping information into QBO and vice versa, ensuring consistency and accuracy.
Invoices and QBO Online Payments:
It is important to note that you could create invoices in TPS Cloud Axis and also directly from QBO. However, if an invoice is created in TPS, the PDF/Word version of the invoice will only be accessible within TPS. Only the WIP line items will be displayed within the invoice in QBO. For clients utilizing QBO Online payments, the invoice template in TPS can include a QBO payment link. This feature enables your customers to conveniently make payments through QBO, which will then be attached to the appropriate invoice in TPS once the synchronization process is done.
Important: Using the QBO Online payment link requires additional steps in QBO to grant TPS Cloud Axis access to the specific invoice link generated by QBO's Online Payment feature.
Understanding Limitations and Restrictions:
While the synchronization process facilitates data transfer, it is essential to understand that TPS does not have control over how QBO handles the information once it is saved on their end. QuickBooks Online is designed to cater to a wide range of industries, not just accountants. Consequently, QBO offers various types of transactions that TPS does not recognize, like credit memo usage, journal entries, deposits, and cheque expenses. These type of transactions should be removed before the Initial Synchronization process.
Moreover, within QBO, there are several functionalities intentionally crafted for exclusive use within its internal reports, which TPS would not synchronize.
QBO Backup:
It is essential to have a QBO on-demand backup solution in place. Rewind account is recommended for this purpose, ensuring the security and availability of your data.
Related Article:
Don't hesitate to reach out to us for additional information on the TPS synchronization process.
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