Integrating your Quickbooks Online account with Hectic will enable automatic synchronization of Clients, Invoices, Payments, and Transaction fees. Additionally, if you have complex sales tax scenarios, Hectic will integrate your Quickbooks Sales Tax rules directly into the invoicing flow to make compliance a breeze.
Note: Quickbooks Self-Employed is NOT supported. Quickbooks doesn't allow any API access to their Self-Employed product.
To begin, navigate to the Connected Apps section under the Account Settings area in the User Menu. Click "Connect Quickbooks Online" and proceed with authenticating with Quickbooks and granting access to Hectic.
Once your Quickbooks Online account is connected, you will need to map your GL accounts to the appropriate Hectic events. (If you don't know what this means, you should ask your CPA for assistance here).
There are 3 fields that require mapping:
Income account - This is the account where payments will be allocated to. Typically this should be mapped to "Undeposited Funds" so that integration with your bank transactions works properly.
Payment processing expense account - If you accept online payments via either Stripe or PayPal the amount deposited into your account will be less the processing fee amount of Stripe or PayPal. An automated expense will be added to this account to allow for accurate tracking of fees associated with accepting online payments.
Sales tax account - If you have complex sales tax requirements you can build your sales tax profile in Quickbooks and select the option here. The sales tax % on the invoices will be automatically set based on the profile from Quickbooks. Invoices and payments that are sent to Quickbooks will have accurate sales tax identifiers associated with the line items.
Now that your GL and sales tax accounts are mapped, all of your future invoices, payments, and transaction expenses will automatically synchronize with Quickbooks.
What to Expect:
You will begin seeing customer records automatically added to Quickbooks. When you send your first invoice after connecting Quickbooks, Hectic will try to find an existing customer with the same name. If no customer is found, Hectic will create a new customer with the basic information that was entered into Hectic.
Once an invoice or payment is sent to Quickbooks you will see a Quickbooks icon confirming that the synchronization was successful.
If you make any changes to an Invoice or Payment after the initial synchronization, Hectic will update the corresponding records appropriately to keep everything in order.
Still have questions? Feel free to chat with us using the icon in the lower right to get more info. We are always happy to help!