Manage Accounting via Quickbooks

enabling the quickbooks accounting integration with granular gl account mapping streamlines your financial operations—automating complex postings, ensuring audit readiness, and providing real time sync visibility this setup removes the need for time consuming manual reconciliation, reduces compliance risk, and accelerates period end close by seamlessly connecting nue’s flexible billing with quickbooks’ general ledger with product category level gl mapping and dedicated clearing account flows, you gain compliance automation automated, audit ready account postings for sox/gaap compliance streamlined reconciliation directly reconcile stripe payments, ar, and more in quickbooks with real time error transparency, so your team closes the books faster follow these steps to connect your nue workspace to quickbooks and configure granular account mapping overview purpose the quickbooks accounting integration is available out of the box and the default integration when you connect to quickbooks with nue it can be used in the following ways as mentioned in the following document setup your integration use case when you are collecting and accounting in quickbooks when you are collecting on stripe and accounting in quickbooks when you are collecting with nue payment links and accounting in quickbooks when you are collecting with a third party payments collection and accounting in quickbooks data model nue's quickbooks connector supports the synchronization of the following objects nue object quickbooks object direction customer customer one direction sync from nue to quickbooks (only synced when invoices are activated) product item one direction sync from nue to quickbooks (only synced when invoices are activated) invoice and invoice item invoice one direction sync from nue to quickbooks (activating and cancelling an invoice) payment application payment one direction sync from nue to quickbooks refund application refund one direction sync from nue to quickbooks credit memo and credit memo item credit memo bi directional created by nue → qbo; cancellations in qbo → nue the diagram below illustrates the synchronization flow note that products are stored in salesforce but are synchronized to quickbooks using nue’s graphql queries, which are automatically routed to salesforce to fetch the required data difference between accounting and payments quickbooks integration the quickbooks accounting integration is always on when you are working with quickbooks the only difference between the two integrations is if you are collecting on stripe, nue payment links or elsewhere, payments will be sent from nue to quickbooks if you are collecting with quickbooks , payments will be sent from quickbooks to nue setting up your quickbooks accounting integration step 1 connect your quickbooks environment connect your quickbooks environment using the details on the setup page step 1a disable "automatically apply credits" in your quickbooks environment if you are using quickbooks solely for accounting purposes, ensure that "automatically apply credits" is disabled as this will prevent future invoices from having credit memos generated by nue to be applied to invoices step 2 configure item type mapping in the quickbooks integration settings, locate the item type mapping section the item type mappings page is used during the setup of your quickbooks integration in nue the mappings you specify here determine how items in nue are categorized when transferred to quickbooks, impacting inventory management, service tracking, and revenue recognition nue field mapping options quickbooks item types required? nue subscription dropdown non inventory yes nue entitlement dropdown service yes nue asset dropdown inventory yes nue subscription select the quickbooks item type that should represent nue subscription products most commonly mapped to "non inventory" to indicate that subscriptions are not tracked as physical inventory items in accounting nue entitlement choose the quickbooks item type for nue entitlements, which typically refer to services provided rather than physical goods commonly mapped to "service" for service based business models nue asset set the quickbooks item type for nue assets, usually representing inventoried products usually mapped to "inventory," signaling that these items should be accounted for as stock in quickbooks step 3 configure gl account mapping general guidance for gl account mapping in nue quickbooks config always verify each account exists in qbo and has the correct account type for the intended use map based on both transaction type (inventory, service, non inventory) and your company’s accounting structure to ensure report accuracy use clear, standardized account names to reduce mapping errors and confusion review mappings after any chart of accounts changes in quickbooks, and periodically audit mapped transactions for correct classification non inventory income account (noninvincomeacct) purpose specifies the quickbooks income account to use for "non inventory" product sales synced from nue (such as saas subscriptions or digital product revenue) this ensures proper revenue classification for non inventory items in your qbo profit & loss and reporting setup & usage in nue quickbooks integration gl mapping, select the appropriate qbo income account (e g , "design income", "consulting revenue") for non inventory product types this value should match an existing income account in your qbo chart of accounts applies to invoice line items categorized as "non inventory" based on item mapping best practices choose an account that matches your business’s revenue recognition policies for non inventory goods/services confirm in quickbooks that the account type is "income" avoid mapping to expense, equity, or liability accounts service income account (serviceincomeacct) purpose designates the qbo income account for "service" product sales, such as billable service hours, maintenance, or professional fees setup & usage in gl account mapping settings, select a qbo income account such as "other income" or "professional services income" applied to invoice line items mapped as "service" items example best practices use separate service income accounts when granular tracking is required for different service categories align mappings with your revenue/cogs recognition setup in qbo inventory income account (invincomeacct) purpose sets the quickbooks income account for inventory product sales—revenue from goods tracked as inventory in qbo setup & usage map to a qbo income account like "sales of product income" that is associated with inventory transactions ensures sales of inventory items are correctly classified and reported example best practices make sure the account type is "income" and intended for inventory product sales if multiple inventory categories exist, consider mapping them to separate accounts for better analytics inventory cogs account (invcogsacct) purpose defines the quickbooks account for recording cost of goods sold (cogs) associated with inventory items this is critical for correct gross margin calculation this is only required if you map to inventory items in quickbooks for fulfilmment purposes setup & usage in nue’s gl mapping, select the qbo cogs account, typically named "cost of goods sold", for inventory items used when the invoice contains line items of type "inventory" example best practices confirm the account is classified as "cost of goods sold" in qbo’s chart of accounts avoid mapping to an operating expense or an asset account inventory asset account (invassetacct) purpose specifies the qbo asset account where the value of inventory on hand is tracked—required for accurate balance sheet reporting this is only required if you map to inventory items in quickbooks for fulfilmment purposes setup & usage select "inventory asset" or another current asset account linked to inventory used for transactions involving additions or deductions of inventory on invoice or bill creation example best practices ensure the account is mapped to a "other current asset" type in qbo do not use unrelated asset accounts, like fixed assets or bank accounts, for inventory mapping step 4 configure payment clearing account payment clearing account (paymentclearingacct) purpose determines the qbo account for payments in transit from nue, typically an "undeposited funds" or clearing account useful for reconciling payments before final deposit setup & usage in nue gl mapping, set the account name to "undeposited funds" or a custom clearing account used for payment records created before they are matched with a bank deposit example best practices always use an "other current asset" type account in qbo this account makes reconciliation simpler for batch deposits step 5 configure refund accounts payment accounts (paymentacct) purpose selects the qbo account from which refunds or payments are issued (e g , when processing a customer refund) setup & usage map to a qbo account such as "checking" used during refund transaction creation or payment reconciliation workflows example best practices use a bank or cash account—avoid liability, expense, or income accounts category account (categoryacct) purpose defines the qbo account where refunded amounts are applied, such as "accounts receivable (a/r)" or a custom refund category setup & usage map to a qbo category account relevant for refund processing used for categorizing refund transaction lines in quickbooks example best practices choose an account that aligns with your business refund processes confirm account types in qbo (asset for receivable; expense for reimbursements as appropriate) step 4 save and review mappings click save to update your mappings review the mapping summary to ensure all active (non draft) products and bundles are covered step 5 monitoring and error resolution all invoice, payment, credit memo, and refund sync events are tracked in the transaction hub each transaction displays a status not transferred, transferred, or failed click any transaction for a detailed log of the quickbooks sync (errors, retry option, mapped account details)