QuickBooks Online Summary Sync allows you to sync your financial data in journal entry format directly with QuickBooks Online. QuickBooks Online Summary Sync provides a high-level overview of financial performance with faster data transfer and reduced storage needs, making it ideal for businesses that need an overall financial snapshot without reviewing individual transactions.
Note: CoreBridge can help with integration setup and how the integration works within the system. Questions about the third-party service itself should be directed to that provider.
Table of Contents
- Benefits of Integrating with QuickBooks Online Summary Sync
- How to Integrate with QuickBooks Online Summary Sync
- Integration Status After Setup
- Using QuickBooks Online Summary Sync After Setup
- Related Articles
Benefits of Integrating with QuickBooks Online Summary Sync
QuickBooks Online Summary Sync offers several advantages for businesses that want a streamlined view of their finances without tracking every transaction in detail.
- High-Level Overview: Provides a consolidated view of financial data as summary journal entries, offering a snapshot of overall performance without individual transaction details.
- Fast Data Transfer: The Summary Sync method offers quick data transfer, making it suitable for businesses that need a broad financial overview.
- Reduced Storage Needs: Combines data into one summary to minimize storage requirements and streamline bookkeeping.
- Sync Flexibility: Configure Reconciliation Sync as manual or automatic, and set notification preferences for sync failures.
- Customizable Sync Options: Includes settings for syncing balances for pre-invoiced Orders, component consumption costs, and mapping CoreBridge Locations to QBO classes, when supported.
How to Integrate with QuickBooks Online Summary Sync
Connect QuickBooks Online Summary Sync to your CoreBridge system from the Integrations Marketplace, then configure your sync preferences directly on the integration page.
Navigate to System Settings / My Business / Integrations Marketplace.
1. Select the Finance category.
Note: You can also find QuickBooks Online Summary Sync using All Categories or the search bar.
2. Select the QuickBooks Online Summary Sync integration.
3. Select Install.
4. Choose whether all of your Locations sync to a single QuickBooks Online (QBO) company, or whether each CoreBridge Location syncs to its own company in QuickBooks.
Note: These options appear only when your business has more than one Location. Single-location businesses do not see this step.
5. Under QBO Account Details, select Connect to QuickBooks.
Note: This opens a dialog. Follow the prompts to finish connecting your QuickBooks account.
Once connected, you can set your QuickBooks options at any time directly on this same integration page.
6. Under Configuration, use the Reconciliation Sync dropdown to choose Automatic with Reconciliation or Manual. For more information, please see Automatic Reconciliation and Sync.
Note: It's recommended to complete the first sync manually to confirm your mapping is correct. After the first sync completes successfully, you can switch to Automatic.
Note: When Automatic is selected, you will see an option to select your start date.
7. Use the Select Roles dropdown to choose which Employee Roles should be notified by email if a sync failure occurs.
8. Under Sync Options, choose any of the following:
a. Sync Balances for Pre-Invoiced Orders Statuses - Pre-invoiced order statuses include Pre-WIP, WIP, Built, and Invoicing.
b. Sync Balances for Component Consumption Costs - Component consumption cost is the cost of individual parts used to create a finished product.
c. Sync CoreBridge Locations to QBO Classes - Classes group your data in QuickBooks for more detailed reporting. Selecting this option lets you view and search information by Location, and enables Class Mapping below.
Note: This option must be selected to see Class Mapping. Some options may look different depending on your number of Locations and the sync settings you chose in step 4. Your QuickBooks plan must support class mapping for this option to be available; QuickBooks Essentials and Simple Start currently do not support class mapping.
9. Select Edit Class Mapping to open the mapping window.
10. Use the dropdown to select your Accounting Software Classes for each Location.
Note: If you select Will be added as new on sync, QuickBooks adds a class named for your CoreBridge Location after the next sync. Look for that class in the Class list in QuickBooks.
11. Select Save & Sync now.
Note: Syncing immediately lets you know right away if there are any issues.
12. Select Edit Account Mapping to choose which QuickBooks accounts correspond to your CoreBridge accounts.
Note: Account Mapping is critical for accurate syncs and reconciliations.
Note: It's recommended to manually select all of your accounts from your accounting software to ensure correct mapping. Reserve Add as new on sync for accounts that are specific to CoreBridge, such as Orders in Pre-WIP.
13. Use the dropdown to select your Accounting Software Accounts.
14. Select Save & Sync now.
Note: Syncing immediately lets you know right away if there are any issues.
Note: Changes must be saved manually by selecting Save at the bottom of the screen.
Integration Status After Setup
After you select Install and complete Connect to QuickBooks, QuickBooks Online Summary Sync typically displays as Installed and Online. Configuration is available from this same screen.
Note: Until Connect to QuickBooks is complete, the integration may display as In Configuration, and the Configuration fields remain unavailable.
Note: Only one accounting software integration can be active at a time in CoreBridge.
Set Active is not required as part of a normal first-time setup. After Install and Connect to QuickBooks are complete, the integration should already display as Online.
If the QuickBooks integration later displays as Not Enabled, Set Active can be used to make QuickBooks the active accounting integration.
1. Click the More Actions menu.
2. Select Set Active.
Note: When the integration is already Online, More Actions includes Set Inactive and Uninstall instead of Set Active.
Using QuickBooks Online Summary Sync After Setup
After you connect QuickBooks and configure your sync preferences, use QuickBooks Online Summary Sync from the reconciliation area in CoreBridge.
Navigate to Accounting / Reconciliation & Sync.
Manually Sync from the Reconciliation List
You can sync a reconciliation directly from the Reconciliations list without opening the detail view.
Note: To sync manually, Manual must be selected in your integration settings. See step 6 in How to Integrate with QuickBooks Online Summary Sync.
1. Select Sync Now in the Status column for the reconciliation you want to sync.
Note: The Status column is not always visible in the default Reconciliations list. To show it, click the search settings control, then select Status.
Manually Sync from the Reconciliation Detail View
You can also review a reconciliation in detail before syncing it to QuickBooks.
1. Select the row of the reconciliation you want to view.
2. Click Sync Now.
Note: The Sync Now option is available regardless of which tab you're viewing in the detail view.
Reconciliation Detail Tabs
In the reconciliation detail view, use these tabs to review information before or after syncing.
Payment Summary tab:
a. Clicking any of the Payments; Transactions links opens a dialog with more detailed information.
Payments & Refunds tab:
Overview of all Payments and Refunds during the reconciliation period.
Financial Summary tab:
Overview of money coming in and going out for the reconciliation period.
Note: When a reconciliation syncs successfully with QuickBooks Online Summary Sync, the Status shows as Synced. If a sync fails, the Status shows as Sync Failed/ Retry Sync.
Note: The final result in your QuickBooks Online Summary Sync software is a journal entry. If the total amount is too large for a single entry, you can divide it into smaller amounts that correspond with the entries in the Payments and Refunds tab.
Related Articles
Automatic Reconciliation and Sync