<aside> Quickbooks (QB) is a premier cloud-based accounting platforms for streamlined financial management.

The Quickbooks integration is available for BETA users on Community tier or higher. To use the integration you also need a Quickbooks account.

</aside>

⤷ Integrate Quickbooks in BETA

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⤷Automatic Account Creation in QB Integration

When you integrate your BETA climbing gym software with Quickbooks, the system will automatically create specific accounts in Quickbooks to help manage your financial transactions.

Here's what you need to know about these accounts:

1. BETALB : This account is created for all current liabilities, such as deposits and unredeemed gift cards.

2. BETACR : This account is designed to manage all incoming payments.

3. BETAS{TAXRATE} : For each tax rate at which you sell products, a unique account is generated with the name above followed by the applicable tax rate. These accounts help you categorise sales based on different tax rates.

4. LIABILITIES ACCOUNT

   <aside> ↙️ The liability account increases in value (a CREDIT) when:

   • A gift card is purchased
   • Payments are taken for a transaction that is not finalized (a deposit)
   • A transaction is closed with subscription billing. </aside>

   <aside> ↗️ The liability account decreases in value (a DEBIT) when:

   • A gift card is redeemed
   • Payments attached to transactions that were never finalized are refunded
   • Transactions with deposits taken on previous days are finalized.
   • A subscription payment is made with additional value to cancel out previous subscription billing. </aside>

<aside>

Attention: If you ever add prices into new tax categories, please either manually create the necessary account in your Quickbooks Chart of Accounts, or let us know if you need assistance.

</aside>

⤷ Custom Accounts

Sales Accounts

The Tax Rate Accounts automatically created by our system are simply fallback accounts. You can use whatever accounts you like to organize your revenue. Before allocating any sales or refunds to our fallback accounts, BETA checks for an account matching the Category of the Price associated with the line item.

For example, if I have prices allocated to the category “Cafe” in BETA, and a Xero/ Quickbooks account called “Cafe”, any sales or refunds of those Cafe prices will be allocated to your Xero/ Quickbooks Cafe account.

To further break down sales within a single account, you can append a colon and then a subclassifier to the Category name. For example, if I want to see the total sales per day of all beverages as a separate line in Xero/ Quickbooks from the total sales of all food items, I might set up the two following Categories in BETA:

1. Cafe:Beverages
2. Cafe:Food

All revenue from both categories will be entered into the Xero/Quickbooks account called “Cafe”, but the Beverage and Food totals will have separate lines in the Journal Entry.

Other Accounts

You can customize the Xero/ Quickbooks accounts BETA uploads information to in your settings page. Simply enter the Xero/ Quickbooks Account Number (in the example below, AR123) in the desired field and click Submit.

Some account types require a Customer Code or Vendor Code (Accounts Receivable and Accounts Payable, respectively) to be attached to a journal entry. If you’d like to use one of these accounts, please create a Customer or Vendor and enter the code in the relevant field in your BETA Accounting settings.

⤷ Contact the BETA Team After Integrating Quickbooks

After setting up the integration, let the BETA team know. We will configure an automated task that runs daily at 1 am. This task serves the following purposes:

• Creates a journal entry in Quickbooks based on the integration you've set up.
• Records total sales made, categorised by tax rate (credited to relevant sales accounts).
• Logs total sales refunded, categorised by tax rate (debited from relevant sales accounts).
• Documents total payments received, categorised by payment method (debited to the current account).
• Tracks total payments refunded, categorised by payment method (credited to the current account).
• Manages total deposits received for transactions not yet finalised (credited to current liabilities).
• Handles total deposits exchanged for transactions closed today (debited from current liabilities).
• Records total deposits refunded (debited from current liabilities).
• Accounts for total gift cards redeemed (debited from current liabilities).
• Logs total gift cards purchased (credited to current liabilities).

<aside> ⚠️ While you can customise the names of your default accounts, please do not alter the AcctNum in Quickbooks.

</aside>

⤷Tax Rate Update Guidelines

If you plan to add prices in the future with new tax rates, you may encounter an error in your integration. In order to avoid any errors, please contact us if you update your tax rates to ensure all necessary accounts are created in QB.