Overview
MicroBiz updates your QuickBooks Online general ledger accounts using your register close out data. Register activity in MicroBiz (sales, sales tax, cost of goods, and changes in inventory value) and changes in customer liabilities (order deposits, store credits and gift cards} are published to GL accounts mapped between MicroBiz and QuickBooks Online.
How do I set up the sync? First you establish a web connection between MicroBiz and QuickBooks Online. Then you map the various financial activities in MicroBiz to your QuickBooks GL acccounts using our set up wizard. These mappings are saved and then used to route and publish data from MicroBiz to the appropriate GL accounts in QuickBooks with a click of a button.
How are MicroBiz sales posted to QuickBooks? First you close your register in MicroBiz using the end of the day close out process. Once the register is closed, you can decide when to publish the financial batch data to QuickBooks. You can do this on a daily basis, or wait until the end of the week or month to publish the data to QuickBooks. When you are ready, go to Transactions>Register Batches and click the green 'Post' button on the batches that you want to publish to QuickBooks. You will be presented with a batch adjustment summary that shows the debits and credits to the mapped QuickBooks GL accounts. If this looks correct, just press the 'OK' button and your accounts in QuickBooks will be adjusted.
What data is synced? MicroBiz publishes register batch financial data to QuickBooks. This should be enable you to use QuickBooks for financial reporting purposes, paying vendor invoices and managing and paying sales taxes. MicroBiz does not sync individual customer records, product records or transactions.
Can QuickBooks be used to pay sales taxes calculated in MicroBiz? Yes, MicroBiz will publish sales taxes to QuickBooks for each register batch synced - allowing you to file and pay sales taxes using the QuickBooks Sales Tax Center. To do this, you must create tax rates and rules in MicroBiz before you run the QuickBooks sync setup wizard.
How do I 'close' my register batch in QuickBooks? Registers are 'closed'' from the Front Register screen using the Action Menu>Register>Close Register. Once a register batch has been close, it can be published to QuickBooks.
Getting Started!
Preparation & Decisions
- Setup requires someone with permission to log into your QuickBooks account and authorize the connection between QuickBooks and MicroBiz.
- The person managing the sync set-up should also be familiar with the QuickBooks General Ledger accounts that will be ‘mapped’ between your store activity recorded in MicroBiz and the General Ledger accounts in QuickBooks. For example, account selection is limited to certain kinds of accounts – when mapping gift card sales or order deposits only liability accounts will be listed. When mapping cash or credit card payments only asset accounts will be listed and so forth. If you have questions about this, you should discuss this with your accountant or bookkeeper.
Step One - Confirm that you have the required matching accounts between QuickBooks and MicroBiz
The set up wizard will allow you to match register functions in MicroBiz to QuickBooks GL accounts. Before you start the wizard, please confirm that you have accounts set up in your QuickBooks for the sync.
1. You’ll need to decide where sales, inventory and cost of goods for your inventory main categories will get posted in QuickBooks and make sure you have accounts for these. In particular, please check on the following:
- Taxes - You will need to map all Sales Taxes set up in MicroBiz to QuickBooks. Be sure that you have a matching account in QuickBooks or each tax rate in MicroBiz before starting te Set Up Wizard.
- Categories - You will also need to decide if sales and COGS should lumped together in a single adjustment to the Sales and COGs account or whether sales and COGs should be broken out and synched by category. If you do decide to sync catagory level data, you will need to make sure MicroBiz and QuickBooks have matching catagories.
Once you have confirmed these accounts, you may proceed.
Step Two - Connect QuickBooks and MicroBiz
1. From the MicroBiz back office, go to Settings >> Integrations >> QuickBooks
2. Click on the 'Set Up' button.
3. On the next screen, click on the green 'Connect to QuickBooks' button.
4. You will be presented with a QuickBooks log in screen. Use your credentials for the QuickBooks account to be linked to MicroBiz to log into your QuickBooks account. QuickBooks will present a form asking for your permission to link the applications. Click the green 'Connect' button on the confirmation pop up.
If you have more than one QuickBooks company you will be asked to select a company at this step (see instructions below on multi-store set ups).
5. The Intuit pop up will close and you’ll be returned to the MicroBiz/QuickBooks integration wizard - which will say you’re connected. Click 'Next' to continue with the set up.
Step Three - Select your Default accounts and data to sync
The next step is to select the default accounts and activities you want to sync between MicroBiz and QuickBooks. You will have an opportunity later fine tune these initial selections.
1. Select your initial sync options:
- Post Register Batch Data to QuickBooks – this updates sales tax, sales, customer liabilities in QuickBooks.
- Update Inventory and Cost of Goods – this posts changes in inventory and cost of goods from sales to QuickBooks.
- Post completed Vendor Shipments as Vendor AP Bills – this creates endor AP bills for your vendor shipments, adjusts inventory valuation for item received, and expenses any freight and misc charges.
Select your choices and click 'Next'.
2. Name your connection – This is important if you want to create multiple account mappings for multiple stores. If you just have one store (and set of mappings), you can just call it your store name, something like 'QuickBooks Connection', or whatever.
3. Select the stores that should be included in this mapping.
4. Select the default sales mapping. This mapping is used when a product has no main category assigned or if you choose not to map sales by category – opting instead to lump them all into one ‘sales’ account. Select your choices and click 'Next'.
5. Select default tax account – if you only have to report to one sales tax jurisdiction then select it – otherwise select any one and we’ll set the rest up later. Click Next.
6. Select default cost of goods and inventory accounts – like the default sales account this is the account used if a product has no main category assigned. Click Continue
Once to you have selected your default settings, you will be brought to the main set-up screens.
Step Four - Set up Sales mappings
Here you need to match your register activity to the appropriate QuickBooks GL account.
There is a toggle at the top to select whether you want to post MicroBiz sales to a single revenue account in QuickBooks or allocate sales by MicroBiz category to category-level revenue GL accounts in QuickBooks.
Once you decide on the level of sales data to sync, use the dropdown menus to select a QuickBooks account for each sales activity in MicroBiz.
If you do decide to sync category level data, you must create category level GL accounts in QuickBooks that matches each sales category in MicroBiz. Also if you make any change to a category in MicroBiz or add a new sales category, be sure to update the corresponding QuickBooks categories or make a new category-level GL account.
Pro Tip - Unless its important to show gross profit by category in your financial statements, start with mapping sales activity to a single revenue account. Mapping by sales category will require that each sales category in MicroBiz have a corresponding GL account in QuickBooks. This means that if you add or change a category in MicroBiz, you will need to make a corresponding change in QuickBooks categories. You can use MicroBiz reports for category financial data for running your store.
Pro Tip – We recommend that you post cash, checks and credit card payments to an Undeposited Funds account. This lets you use Bank Rec in QuickBooks to compare your bank statements to your actual deposits to reconcile any clerical errors.
Note on Tips setting: If you don’t use Tips or collect service charges automatically for integrated credit card payments – you can assign these to any liability or income account (respectively) – don’t worry – since you don’t use these features there will never really be a posting to these accounts.
Step Five - Set up Inventory mappings
Next, map the cost of goods sold to your account holding inventory valuation in QuickBooks.
If you wish to map inventory & cost of goods by main category click the orange triangle near the word ‘All’
Step Six - Set up Sales Tax mappings
For each MicroBiz Tax Rule select the corresponding QuickBooks Tax Rate.
- Default Sales Tax (first dropdown) - This is the Default Tax Rate used for unmapped taxes. If batch has tax rate which is not mapped in the settings to QuickBooks Online, the Default Tax Rate will be used for the sales receipt created to post sales taxes to the QuickBooks Tax Center.
- Mapped Sales Tax Rates (bottom table) - In this table you will need to map each rate created in MicroBiz to a corresponding tax rate in QuickBooks.
Note that in order for the sync to work properly, the tax rate in MicroBiz must have the same percentage rate as the mapped tax rate in QuickBooks.
Step Seven - Set Up mappings for Vendor Shipments (if selected)
If you are pushing vendor shipments to QuickBooks as AP Bills Payable, you can set this up next. Otherwise you can skip it.
When publishing a vendor shipment to QuickBooks, MicroBiz does the following:
- Creates a vendor bill payable for the amount of the vendor shipment
- Adjusts the selected inventory asset account for cost of the items receieved
- Adjusts the mapped expense accounts for any shipping and misc costs entered in the vendor shipment record
First, select the inventory account to be used for items recieved. Then, select the expense accounts in QuickBooks that correspond to your Vendor shipment freight and ‘other’ charges
Note to User Tracking Sales and COGS by Category: The COGS of items in a Vendor Shipment synced to QuickBooks will be mapped to inventory accounts in QuickBooks using the mapping settings in the Inventory/COGS tab in MicroBiz. If you mapped COGS by Category to Inventory Value by Category accounts in QuickBooks, then the items received in the MicroBiz will adjust the category level inventory asset accounts in QuickBooks.
Step Eight - Stores Tab Settings
Note: This only applies if you have a ‘Plus’ subscription to QuickBooks and you are using Locations – otherwise you can skip this tab.
Select the QuickBooks location that corresponds to your MicroBiz store.
Multiple Stores
To track inventory or sales by store in QuickBooks you have a couple options. You could create a mapping for store 1 in MicroBiz, then create a different mapping store store 2 in MicroBiz with different accounts selected for inventory, sales and cost of goods. Or you could use the QuickBooks Locations feature which requires you to have at least a ‘Plus’ level subscription in QuickBooks. If you wish to map your MicroBiz stores to your QuickBooks locations – sure to set up your QuickBooks locations first then select the location that corresponds to the store in the integration Account Mappings >> Stores tab. For help with QuickBooks locations you can start here: https://quickbooks.intuit.com/
You are done! You can start publishing register batches to QuickBooks
Click the orange save button on the top right of the screen !
That’s it you’re all set. You might want to go to Transactions >> Manage Batches and try to POST a register batch.
Pro Tip - If you have been manually posting register activity to QuickBooks check with your bookkeeper to make sure you don’t post something they have already posted!
FAQ's
What customer liabilities are publshed to QuickBooks? MicroBiz ‘Register’ module allows the retailer to take deposits on special orders and repairs as well as issue and use Store Credits and sell and redeem Gift Cards. All of these activities are tracked as customer liabilities. This activity is posted to your QuickBooks General Ledger and will show on your Balance Sheet reports.
How do I set up multiple stores? To track inventory or sales by store in QuickBooks you have a couple options. You could create a mapping for store 1 in MicroBiz, then create a different mapping store store 2 in MicroBiz with different accounts selected for inventory, sales and cost of goods. Or you could use the QuickBooks Locations feature which requires you to have at least a ‘Plus’ level subscription in QuickBooks. If you wish to map your MicroBiz stores to your QuickBooks locations – sure to set up your QuickBooks locations first then select the location that corresponds to the store in the integration Account Mappings >> Stores tab. For help with QuickBooks locations you can start here: https://quickbooks.intuit.com/au/blog/product-update/using-classes-and-locations-in-quickbooks-online/
How do I set up tips? Tips have a single liability account - tip collected credits the liability account tip paid out debits the liability account.
What are are the detailed account mappings?
Index 1 – Account Mapping Restrictions
Liability Accounts
Classification: Liability
AccountSubType: Other Current Liability
Sales Accounts
Classification: Revenue
AccountSubType: Income, Other Income
Expense Accounts
Classification: Expense
AccountSubType: Expense & Other Expense
Payment Accounts
Classification: Asset
AccountSubType: Other Current Asset & Bank (linked bank accounts may not work but cash on hand would work)
Accounts Receivable
Classification: Asset
AccountSubType: Accounts Receivable
Cost of Goods
Classification: Expense or Cost of Goods
AccountSubType:Cost of Goods
Inventory Accounts
Classification: Asset
AccountSubType: Other Current Asset
Accounts Payable (AP Bill)
Classification: Liability
AccountSubType: Accounts Payable
Freight/Misc for AP Bill
Classification: Expense
AccountSubType: Expense, Other Expense,Cost of Goods
Transaction Rounding
misc expense account
Service Charge
Classification: Revenue
AccountSubType: Income,
Other Income
line description (both lines)
"To reverse sales receipt <QuickBooks receipt no>"