QuickBooks Online (QBO) is a cloud-based accounting software that helps businesses manage their finances. Users can track income and expenses, create invoices and estimates, manage customers and suppliers, monitor taxes and more.
Velocity supports integration with QBO customers, orders, items and payments. Below is a short video showing a brief overview of how Quickbooks Online interacts with Velocity:
Reporting
Velocity is able to report the following information to QBO:
Orders, which can be reported as sales receipts or invoices
Order shipments
Order refunds and payments (terms orders)
Orders
Requirements
There are a few requirements needed to ensure an order is reported successfully to QBO.
The customer for the order must be linked to a customer in QBO
Each order product must be linked to an item in QBO
Customers and products can be linked within their respective detail pages.
Linking customers
Navigate to the customers list
View the details for the customer to link
Assign the QBO customer using the QuickBooks Online customer selector
Creating customers
If the customer exists in Velocity but does not exist in QBO, you can click "create a new one..." to push Velocity's customer information over to QBO:
Syncing customers
At any time, you can sync bidirectionally if there is a discrepancy between the data in Velocity and the data in QBO. Simply click "sync customer profile..." and select the record you would like to preserve:
Linking products
Navigate to the products list
View the details for the product to link
Assign the QBO item using the QuickBooks Online item selector
Reporting details
When an order is approved, it will get reported to QBO as an Invoice or a Sales Receipt.
If an order is placed on terms, it will get reported as an Invoice. Otherwise, it will get reported as a Sales Receipt.
Additionally, an order initially reported as a Sales Receipt can be converted to an invoice by selecting Report as Invoice in the QuickBooks section in the order details view.
When reporting orders, Velocity will provide the following data to QBO:
Customer
Billing address and email
Shipping address
Line items with unit price and quantity
Order Shipments
If an order has already been approved and reported to QBO, then any shipments created for that order will also get reported to QBO.
The tracking number for the shipment will get assigned to the Sales Receipt or Invoice in QBO.
Order Refunds
Order refunds are reported to QBO as refund receipts when they are created for an order. Note that refunds can be created for both online orders and for orders placed on terms.
In both cases, a refund receipt is generated in QBO with the following data:
Document number, formatted as RF-#, using the order number displayed in Velocity
Deposit account id
Refund line items for products, shipping, handling, tax or custom amounts
Billing address and email
Payment method refunded
Order customer
Order Payments
Order payments created for terms orders are reported to QBO with the following data:
Payment amount
Invoice linked against the order
Deposit account id
Order customer
Configuration
Connecting Velocity with QuickBooks Online is easy! Navigate to Settings > Integrations and click on "Log in to QuickBooks":
If you do not see QuickBooks Online on this page, please reach out to your account manager, or contact support through the built-in chat.
Once connected, please fill out the appropriate field mappings in Velocity by clicking on the blue "QuickBooks Online" hyperlink:
Lastly, you need to create a few new resources in QuickBooks Online that Velocity will use when reporting orders, and syncing information. These are either accounts or items. Clicking any of the dropdown fields on this settings page will allow you to choose existing accounts and items.
Each account field has a corresponding description below. If no appropriate account exists, please make one in your Chart of Accounts in QuickBooks.
Similarly, each item field (shipping, tax, etc.) has a corresponding description below. If no appropriate item exists, we recommend creating them as either Services or Non-inventory products in QuickBooks. Velocity will use these placeholder items when reporting each respective order quantity.