QuickBooks Online Summary Sync will allow 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 require an overall financial snapshot without delving into individual transactions.
Table of Contents
- Benefits of Integrating with QuickBooks Online Summary Sync
- How to Integrate with QuickBooks Online Summary Sync
- Functionality
Benefits of Integrating with QuickBooks Online Summary Sync
- High-Level Overview: Provides a consolidated view of financial data, 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: Options to configure reconciliation sync to either 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 CoreBridge locations to QBO classes, if supported.
How to Integrate with QuickBooks Online Summary Sync
To integrate QuickBooks Online Summary Sync with your CoreBridge system, navigate to Settings / Integrations / Marketplace.
1. Select the Finance Folder.
2. Select the QuickBooks Online Summary Sync Icon.
Note: QuickBooks Online Summary Sync can also be found within the All Folder, or by using the search filter.
3. Select Install.
4. Once installed, select View/Edit Settings to connect your QuickBooks Online Summary Sync account to your CoreBridge system.
Note: This will redirect you to Settings / Integrations / Installed Integrations where all integration settings can be managed with QuickBooks Online Summary Sync automatically being selected.
5. Select Connect to QuickBooks.
Note: This will open a pop up. Follow the prompts to finish connecting to QuickBooks.
Once connected, you can set up your QuickBooks options. These can be managed at any time in Settings / Integrations / Installed Integrations and selecting QuickBooks Online Summary Sync.
6. If you have multiple locations, choose whether you would like all of your locations to sync to one QuickBooks company, or if you would like them to sync to individual companies within QuickBooks.
7. Use the dropdown to choose if you would like your reconciliation sync to be Automatic or Manual.
Note: It is recommended to complete the first sync Manually to check that the mapping has been done correctly. After the first sync has completed, you may select Automatic.
8. Choose the Date you would like your sync to begin.
Note: This option only appears if you have selected the Automatic option above.
9. Use the dropdown to select which Employee Roles you would like to have notified via email if a failure occurs.
10. Sync Balances for Pre-Invoiced Orders Statuses - Pre-Invoiced Order Statuses include Order, Pre-WIP, Built, Invoicing, and Production Deliverables.
11. Sync Balances for Component Consumption Costs - Component Consumption Cost is the cost of the individual parts used in creating a finished product.
12. Sync CoreBridge Locations to QBO Classes - Classes are a way to group your data in QuickBooks for more detailed reporting. Checking this box will sync your CoreBridge Locations to your QuickBooks Classes, allowing you to view and search for information by Location.
Note: This box must be checked in order to see Location Mapping below.
Note: Some of these options may appear differently depending on the number of locations you have and the sync settings chosen above with step 6.
Note: Your QuickBooks version must support class mapping to allow the option to sync to QuickBooks classes. Currently, Quickbooks Essentials and Simple Start do not support class mapping.
13. Select Edit Class Mapping. This will bring up a modal that allows you to make your individual selections.
14. Use the dropdown to select your Accounting Software Classes.
Note: If Add as new on sync is selected, QuickBooks will add your Location after syncing.
15. Select Save & Sync Now.
Note: Syncing immediately will alert you to any issues right away.
16. Select Edit Account Mapping. This allows you to select which of your Quickbooks accounts map with the CoreBridge accounts. Account Mapping is critical for ensuring accurate syncs and reconciliations. For more information, please see Account Mapping With Accounting Integration Software.
Note: We recommend selecting all of your accounts from your accounting software manually to ensure correct mapping. Add as new on sync should be reserved for accounts that are specific to CoreBridge such as Orders in Pre-WIP.
17. Use the dropdown to select your Accounting Software Accounts.
18. Select Save.
Functionality
After creating your account and setting your syncing preferences, QuickBooks Online Summary integration is easy to use within your CoreBridge system.
Navigate to Accounting / Reconciliation & Sync.
To manually sync your QuickBooks Online Summary integration from this page:
Note: In order to manually sync, you must have that option set in the dropdown on the How to Integrate step 7 above.
1. Open the ellipsis at the end of the row.
2. Select Sync to QuickBooks.
To manually sync your QuickBooks Online Summary integration in detail view:
Note: In order to manually sync, you must have that option set in the dropdown on the How to Integrate step 7 above.
1. Click on the row of the Reconciliation you would like to view.
2. Open the ellipsis in the top right corner.
3. Select Sync to QuickBooks.
Note: The option to sync is available regardless of which tab you are in.
Payment Summary tab.
a. Clicking on any of the Payment;Transactions or View Details hyperlinks will open a new modal with more detailed information.
Payment and Refunds tab.
a. Selecting a payment or refund from the list will open a modal with more information on that particular transaction.
Financial Summary tab.
This tab allows you to quickly see an overview of money coming in and going out of your business for the selected reconciliation period.
Note: When a reconciliation has been synced properly with QuickBooks Online Summary Sync, the Payment Information will display this way in the Reconciliation detail view heading:
Note: If there is an issue with the sync, the Payment Information will display this way in the Reconciliation detail view heading:
