HOW TO CONNECT QUICKBOOKS WITH CHARGEBEE | QUICKBOOKS CHARGEBEE INTEGRATION
Chargebee is robust and multifaceted subscription billing and recurring payment software platform, designed specifically for businesses offering subscription-based services. This software platform offers comprehensive cloud-based subscription billing solution and is user-friendly. It helps in automating the billing processes of businesses which run subscription services. Chargebee enables its users to engage subscribe clients through self-service portals which eventually creates upsell opportunities which further helps in taking advantage of recurring revenue. This software platform also offers custom pricing options and pause subscriptions (an effective alternative to cancelling subscriptions). The custom pricing enables its users the ability in extending renewal periods before their expiry dates. The automated workflow offered by Quickbooks chargebee integration works for invoice generation, payment collection, email notification, customer management and also follow-ups for sales and marketing teams. All these types of services are delivered as a SaaS plug and play solution provided on the internet through cloud.
Configuring QuickBooks with Chargebee
After
integrating QuickBooks Online account with Chargebee, users can automate the
synchronization of Invoices, Customers, and other data from Chargebee to
QuickBooks, which are critical as well as important for their company’s
financial management and analysis.
Configuration
Process
1.
Connecting QuickBooks
For connecting to
QuickBooks, users should go to Settings > Third-Party
Integrations > Accounting > QuickBooks. Next, do
Click Connect and then link
your QuickBooks Online account.
2.
Authenticating Accounting Information
After successfully authorizing your QuickBooks account, Chargebee will
analyse whether your plan/addon price points have a valid GL Account Name. On
contrary, Price points which don't have the Account Name will be listed.
Users can download the CSV file for adding the accounting information
for all price points, by following these steps: -
1.
Firstly,
users should click Fix via CSV and
then download the CSV file.
2.
Next,
do open the CSV file and then update the following information for all
plan/addon price points:
a. SKU
b. Accounting
Code
c. Item
GL Group
After update the details in the following fields, do save
the file and then click Upload CSV
for uploading the back into Chargebee.
The list of prerequisite checks is as following: -
a.
Whether Quickbooks chargebee integration invoices are already present in
QuickBooks. To avoid
duplicates, users should map the customer records between both the systems.
Furthermore, users can download the CSV file, map the customers and then upload
the updated file in Chargebee. If there are no duplicates then users can move
further and proceed.
b.
Currency Check- The list of currencies which are enabled in Chargebee should be
also enabled in QuickBooks.
c.
Preferences- Chargebee will be checking if
i.
Automatically Apply Credits' option is disabled
ii.
‘Custom Transaction Numbers' is enabled.
If these preferences are not met then users should change the settings
in QuickBooks to proceed further.
4. Setting
Up Reconciliation
If users have Stripe Payment Gateway enabled then they can choose to
follow Chargebee’s recommended Payment
Reconciliation Method.
5.
Configuring Sync Rules
a.
Providing Account Mapping
●
Plan/Addon Price Points: It can be mapped to specific GL Accounts in
QuickBooks. This mapping is captured in the Product Catalog > Plan/Addon > Select a Plan/Addon
Price Point and then enter the GL
Account Name.
●
Payments /Refund transactions recorded in Quickbooks chargebee integration - For Reconciliation purposes, users can select a clearing
/undeposited funds account. If they have multiple currencies or payment
gateways or payment methods enabled, then they can choose a specific payments
account.
●
Round offs- If there is a difference in the invoice total calculation
between Chargebee and QuickBooks, then Chargebee will add a round off item
automatically, users can select a GL account to which round offs are to be
mapped.
●
One-time charges- One time/ Adhoc charges which are created in Chargebee
can be mapped to a specific account in QuickBooks.
●
Discounts- Users
can select an account for mapping Discounts/ Cost of Goods (COGs) in
QuickBooks. Next, they can map multiple discount items to a single GL Account
or they can choose to map each Discount item to specific GL Accounts. Users can
Contact Chargebee
Support for any type help you with this mapping.
●
Bad debts (write-offs)- Users can choose where Bad Debts should be mapped in
QuickBooks.
b. Syncing
Offline Payments
When offline payments are analysed and read from
the bank statement and reconciled against open invoices in QuickBooks, these
payments can also be read, synced back to Quickbooks chargebee integration . The
payment due invoices will be marked as Paid in Chargebee. Users have the choice
to enable this feature or not.
c. Voided
invoices as Credit Notes
Invoices can be voided in Chargebee, but cannot be voided in QuickBooks through
API. Therefore, users can choose to sync these voided invoices as Credit Notes
in QuickBooks. If not enabled, users should update the invoices manually in
QuickBooks, Chargebee will not void the invoices in QuickBooks.
d. Enter
Tracking Categories
If users have setup Classes in QuickBooks, then they can enter the tracking
categories for one-time charges, discounts and round-off.
6. Setup Taxes
If users are using US edition of QuickBooks (or Global
edition) then Chargebee will be creating tax rates in QuickBooks automatically.
If users are using a Canada, Australia, New Zealand, South
Africa, Singapore edition of QuickBooks then they can select from the list of
default tax rates which are created in QuickBooks.
6.
Selecting Sync Start Date
Users should select a date from which invoices generated in Chargebee
should be synced to QuickBooks.
Users can choose from one of the following options:
●
Sync
all invoices
●
Sync
invoices from a specific date
If users prefer to choose to sync from a specific date, Invoices and
related records from the specified date will only be synced to QuickBooks.
7.
Running
Initial Sync
After the completion of configuration, users can begin with
sync. Chargebee will be syncing only first 10 invoices to make sure that
mapping, conventions and sync criteria are properly align with their
requirements. The users are recommended that they should review these invoices
in their Quickbooks chargebee integration account. If syncing is
perfect then they can click Sync All
Records option and then proceed or make the required changes. Finally, the
QuickBooks setup is now completed.
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