Connecting to QuickBooks
By Mary Cooper
updated 1 day ago
TaxDome helps you streamline the end-to-end flow of your entire accounting process. If you're used to using QuickBooks Online, you can link your TaxDome and QBO accounts. Once they’re linked, you'll see all payments and details made through TaxDome in your QuickBooks account.
- What Data Is Transferred?
- Connecting to QuickBooks Online
- Changing the Account to Receive Stripe Deposits
- Changing Your Default Currency
- Navigating to QuickBooks Payments from TaxDome
- Manually Syncing Your TaxDome Clients with QuickBooks
- Disconnecting from QuickBooks
What Data Is Transferred?
Once the QuickBooks connection is set up, the following information from TaxDome will be available in your QuickBooks account:
Payment details, such as transaction date, transaction amount, source, and payment ID.
Details of the invoice covered by the payment, such as ID, and amount. Invoices paid from user’s credit balance are also marked as paid in QuickBooks.
Details of the credit card transaction fee (if any).
Details of the customer who made the payment.
Note: If you have QuickBooks connected to the bank account where Stripe payouts are made, you may encounter a double-counting issue. Read more on How to Avoid Double-Counting Stripe Transactions.
Connecting to QuickBooks Online
To sync TaxDome and QuickBooks:
1. Go to Settings in the left sidebar, select Payments in the menu bar, go to QBO, then click the Connect to QuickBooks green button.
2. Enter your QuickBooks credentials, then click the green Sign In button.
3. Click Connect to give TaxDome access to use your QuickBooks Online data.
The connection is established, and you’re redirected to TaxDome.
Changing the Account to Receive Stripe Deposits
If you have multiple bank accounts within QuickBooks, you can select which one you would like to sync with TaxDome. By default, the data for your Stripe transactions is transferred from TaxDome to the Bank Account for Stripe Deposits account that is automatically added to QuickBooks when you set up the connection with TaxDome.
To change this account, go to Settings in the left sidebar, select Payments in the menu bar, go to QBO, select the account name in the Sync list, then click SAVE. Your bills and payments will now be synced with the selected QuickBooks account going forward.
Please note that this won't affect the transactions that have already been synced.
Changing Your Default Currency
You can only change the default currency settings if they match in TaxDome and QuickBooks. When you first registered your firm with TaxDome, you chose a default currency. If your default currency in QuickBooks doesn’t match your currency in TaxDome, you’ll get an error message.
To change your currency setting in QuickBooks:
1. Click the gear icon at the top right of the window, then select Account and Settings.
2. Navigate to the Advanced tab, then click the pencil icon to the right of the Currency setting. Select the currency that matches the one in your TaxDome account, then click Save.
Navigating to QuickBooks Payments from TaxDome
Once your TaxDome and QuickBooks accounts are synced, the data for payments and bills is automatically transferred to QuickBooks.
To get information about any transaction sent to QuickBooks, navigate to the Billings section, find the bill or payment you need to see, and then click the QB link in the Sync column. The bill or payment page in QuickBooks will open.
Manually Syncing Your TaxDome Clients with QuickBooks
TaxDome bills and payments can be automatically synced with QuickBooks only if your TaxDome client's data matches their QuickBooks data. If these don’t match, you will be prompted to sync the client manually.
When a bill or payment is created for a client whose data can’t be automatically found in QuickBooks, you’ll see a notification in Settings showing the number of issues that need to be addressed.
Go to Settings in the left sidebar, select Payments in the menu bar, go to QBO, select the client’s name, then click SUBMIT. If you can't find a match in this list or if there are no mismatched clients in QuickBooks, select Create new client option.
The bills and payments for that client will now be synced with QuickBooks going forward.
Disconnecting from QuickBooks
To disable syncing with QuickBooks, go to Settings in the left sidebar, select Payments in the menu bar, go to QBO, then click the DISCONNECT button in the QuickBooks Connection section.