Managing monthly owner statements can get complicated—especially when entering payouts manually. The QuickBooks Transfers to Bills workflow takes away that headache by creating bills automatically in QuickBooks for each payout you generate in VRTrust.
Here’s how to set it up, incorporate it in your workflows, and ensure smoother payouts every month. 0:03
Step 1: Connect your QuickBooks account to VRTrust.
Step 2: Click on QuickBooks from the Connections menu . Click the Workflows tab, then find Transfers to Bills.
Step 3: Click Settings for the Transfers to Bills workflow. Here, you can enable automatic syncing every 24 hours or choose to run the workflow manually after you create your transfers. 0:19
Step 4: Choose your payout Category. Common choices are a payout account or a trust liability account, matching your bookkeeping structure. This ensures payouts reduce your trust account liability on your QuickBooks balance sheet. 0:47
Step 5: Select a Start Date for the sync. If past payouts are already recorded, pick a forward date so only new payouts sync going forward. 0:58
Step 6: Enable the option to update existing bills if you want any changes in VRTrust to automatically update the linked bills in QuickBooks. 1:08
Important: This will override manual changes made directly in QuickBooks.
Step 7: Map your VRTrust listings to QuickBooks classes. If you don’t use classes, listings can be tagged to a customer instead. 1:20
Step 8: Finally, map your owners to the appropriate vendors in QuickBooks. Make sure every owner in VRTrust connects to the correct vendor account in your QuickBooks environment. 1:28
Step 9: When you record owner statement payments and payouts in VRTrust, this workflow creates matching bills in QuickBooks. Process the payments using your preferred method—Melio, Bill.com, or any QuickBooks-integrated ACH system. 1:39
Step 10: Using the Workflow 2:05
By reducing manual data entry, this workflow reduces errors and saves time. With automatic bill creation and sync, you’ll have a smoother, more accurate owner statement and payout process every month.