QuickBooks Integration Workflow for Billable Expenses
1. Connect QuickBooks 0:03
Ensure QuickBooks is connected.
Navigate to Accounting and select QuickBooks.
Click on 'Connect' to establish the connection.
Authorize the QuickBooks API to complete the setup.
2. Configure Expense Fetch Workflow 0:21
Go to Workflows and locate the 'Expense Fetch from QuickBooks'.
Click on 'Settings' to begin configuration.
Enable the configuration and set a default vendor (typically the property manager).
3. Map Billable Expense Accounts 0:39
Map QBO billable expense accounts to VR Trust expense accounts.
Only map accounts where billable expenses are recorded.
Example: Map cleaning expenses from QuickBooks to the corresponding account in VR Trust.
4. Class, Customer, or Location Mapping 1:03
Choose to map listings to class, customer, or location.
Note the priority: Class > Customer > Location.
5. Set Default Markups and Sales Tax Rates 1:14
Add default markups for individual accounts (e.g., 10% for cleaning, 25% for maintenance).
Set different sales tax rates by account.
6. Run the Workflow 1:34
Execute the workflow for a specific date range (e.g., a few days or the entire month of November).
Ensure all expenses in QuickBooks are posted, reconciled, and tagged appropriately.
7. Review Imported Expenses in VR Trust 1:51
After running the workflow, check the expenses in VR Trust.
Filter by QuickBooks to view all imported expenses.
Click on individual expenses to review details.
8. Manage Expenses 2:14
Note that expenses are tagged with the listing and marked as 'Bill to Owner'.
The Bill ID corresponds to the journal ID in QuickBooks.
Expenses can be deleted and rerun if necessary.
9. Update and Rerun Workflow if Needed 2:27
If a mass update occurs in QuickBooks, rerun the workflow to add any new expenses to VR Trust.
10. Conclusion 2:44
This integration simplifies the process of pulling and posting billable expenses to owners.
It streamlines the owner's statement process with VR Trust.