24 Jun B4. Syncing up QuickBooks – Adding ConnectBooster as an administrator
Posted at 13:49h in
How to sync up your Quickbooks with ConnectBooster
- Open QuickBooks, and enter the correct company file as the Quickbooks master administrator. This needs to be the main “Admin” account, not a user with administrator privileges.
- Place the company file in single-user mode – this is only needed for the initial sync.
- Create a new designated QuickBooks user for the sync to use. Depending on your version of QuickBooks, this is usually under Company -> Setup users and passwords.
- Username: ConnectBooster
- ConnectBooster does not need to know this password.
- Give it the external accountants role.
- Close the dialogue box.
- Check the default Chart of Accounts to make sure the account names match.
- Navigate to “Lists > Charts of accounts” in QuickBooks.
- ConnectBooster will map based on the exact syntax of the name, so in this case you want to make sure the Account Name in this example is “Undeposited Funds” and not “1200 Undeposited Funds.”
- When you “right-click” on the 1200 Undeposited Funds, it should look like what is below.
- Once in place, ConnectBooster will completely automate the following:
- When a payment is received and reconciled using the sync, it will create the received payment record for you, apply it to the appropriate invoices, pull the amount of that payment out of the accounts receivable, and place the received payment record into the undeposited funds.
- The only job of the accountant is reconciliation. When the money actually enters the bank account, or when the accountant goes in on, for example, Friday to check reconciliations for the week, he or she will verify that the deposits actually came into the bank account and match each of the payments. Everything else is taken care of.
- ConnectBooster handles the received payments part.
- **The accountant handles the received funds portion. It is necessary not to automate this step as it is part of the checks and balances system. Without it, weeks or months could pass without anyone noticing if a mistake was made, and the money did not actually show up.