A good first step is to watch the integration overview video embedded below before proceeding through the setup instructions.
Accounting related documents created in your Merchant Account are synced in QuickBooks Online automatically, streamlining the entire accounting workflow for your shipment auditing business.
This optional feature is free to all Merchants, requires the use of QuickBooks Online as an accounting suite, and the installation of the Share A Refund QuickBooks Online App.
The intent of this post is to provide an overview of the integration and the steps required to enable this feature for your account.
Overview
The integration between Share A Refund and QuickBooks online is a two-way integration that makes use of the QuickBooks API to sync events transactions between Share A Refund, Stripe and QuickBooks Online. Important parts of the integration include:
- Create and update customer records.
- Create and update customer sales receipts.
- Create and update customer invoices.
- Create payments.
- Create expenses.
- Match transactions.
Example transactions
- Sales invoices and sales receipts generated by Share A Refund are created inside of QuickBooks in near real-time.
- Payments applied to sales documents are attached to these sales documents in near real-time.
- Deposits made by Stripe to the bank account are matched to sales documents daily.
- Stripe fees subtracted from the Deposits are created as expenses and matched to deposits daily.
- Invoices and sales receipts settled in foreign currencies are managed with bank transfers between bank accounts.
Key features
- Fault-tolerant integrations that ensure that no transaction is missed.
- Sum checks verify transaction for accuracy in line item amounts.
- Pertinent metadata is included within reference fields on the documents created.
Key benefits
- Eliminates common mistakes in bookkeeping.
- Saves time by creating and updating transactions automatically.
- Delivers precision in bookkeeping by creating every single transaction.
- Ensures best practices are used in accounting workflows.
- Costs nothing. A free add-on provided to Merchants.
Setup instructions
Get started by created a QuickBooks Online account.
- Select a QuickBooks Online Plan.
Choose Essentials or Plus. - Tap Free Trial for 30 days.
- Complete the setup process, follow the account creation instructions.
- Import the required accounts.
- Follow the guide below to create products.
- Install the Share A Refund QuickBooks App.
- Enable QuickBooks Sync from inside your Merchant Account settings.
Account creation instructions
Use the same email address associated with your Share A Refund account when creating your QuickBooks Online account. Doing so streamlines the getting started workflow.
Update the email address listed in QuickBooks Online to match the email address associated with your Share A Refund account.
Import accounts
Transactions are posted to the accounts defined below. Creating these accounts is required for the sync to work properly. These accounts will show up on standard financial statements (e.g. income statement), and may be associated with other transactions.
QuickBooks Online accounts for Share A Refund merchant
Alternatively, accounts can be created manually. To do so, open the file above, note the columns as properties of each account that needs to be created, and proceed through creating each account within the QuickBooks Online Create account page.
Create products
Transactions are posted to the products and expenses defined below. Creating these products and expenses is required for the sync to work properly.
Each number is a product or expense that needs to be created within your QuickBooks Online Company.
- Name: CAO Service Fee
CAO :: Carrier agreement optimization
Type: Service
Income Account: Direct Customer Revenue - Name: DHL Refund Service Fee
Type: Service
Income Account: Direct Customer Revenue - Name: FedEx Refund Service Fee
Type: Service
Income Account: Direct Customer Revenue - Name: UPS Refund Service Fee
Type: Service
Income Account: Direct Customer Revenue - Name: Purolator Refund Service Fee
Type: Service
Income Account: Direct Customer Revenue - Name: Lost/Damage Claim Service
Type: Service
Income Account: Direct Customer Revenue - Name: Discount
Type: Service
Income Account: Discounts - Name: Stripe Payment Processing Fees
Type: Service
Income Account: Stripe Payment Processing Fees
Create payment terms
The default payment terms built into your Share A Refund Merchant Account include more options than are provided in QuickBooks by default. This step adds the missing payment terms. Doing this ensures that all transactions sync properly.
- Tap Gear Icon Top right > Lists > All Lists
- Tap Terms
- Create all the terms listed below
Payment terms:
- Due on receipt
- Net 7
- Net 10
- Net 15
- Net 30
- Net 45
- Net 50
- Net 60
- Net 90
Enable multicurrency
Multicurrency provides you with the ability to invoice customers in foreign currencies.
- Tap Gear Icon Top right > Account and Settings
- Tap Advanced
- Enable Multicurrency
- Add Currencies
The list below is a sample list. Additional currencies may be required to accommodate your merchant account.
- Name: AUD – Australian Dollar
- Name: AUD – Australian Dollar
- Name: CAD – Canadian Dollar
- Name: GBP – British Pound Sterling
- Name: EUR – Euro
Add bank accounts
Recent transactions will be synced automatically by QuickBooks by providing the logins to your online bank account.
- Name: Checking
Type: Bank
Detail Type: Checking
Note: synced with your online banking provider (e.g. Chase)
Transactions older than 90 days can be imported into QuickBooks using valid webconnect files: .qbo (QuickBooks), .qfx (Quicken) and .ofx (MS Money).
Settlement bank accounts
Bank accounts are used for settlement of transactions denominated in foreign currencies. The list below is a sample list. Your list should match the currencies that were created in the Enable multicurrency step above.
- Name: AUD Settle
Type: Bank
Detail Type: Cash on hand
Currency: AUD - Name: CAD Settle
Type: Bank
Detail Type: Cash on hand
Currency: CAD - Name: GBP Settle
Type: Bank
Detail Type: Cash on hand
Currency: GBP - Name: EUR Settle
Type: Bank
Detail Type: Cash on hand
Currency: EUR
Enable the sync
Your Merchant Account has settings related to the sync that requires configuration. These settings can be edited within your Share A Refund account.
- Login to your account as an admin.
- Tap Settings in the left sidebar menu.
- Navigate to the QuickBooks Sync Settings integration card.
- Tap Enable within QuickBooks Sync Settings card.
- Tap Connect with specified QuickBooks Client Id.
- Authenticate connection to your QuickBooks Company.
Ensure you have the correct privileges on your user account by contacting your Merchant account administrator.
Quick help
Frequently asked questions and answers related to the sync and the getting started process are defined below.
Q: What if a transaction is missing?
A: Any transaction related to sales invoice, sales receipt, payment or otherwise that is synced into QuickBooks is likely due to error. The directions below are provided as a means of troubleshooting any transaction that didn’t sync to QuickBooks, and provided with the assumption that the transaction isn’t malformed in some way that doesn’t allow the sync to occur.
- Login to your Merchant account.
- Navigate to the Edit Invoice view for the transaction.
- Tap the Sync to QuickBooks button on the top right.
Notes:
- The integration is near real-time.
- Search for the transaction in QuickBooks.
- Look for an error email, if the transaction is not in QuickBooks
Q: How often does matching occur?
A: Matching is the process of linking sales documents (i.e. sales invoices, sales receipts), with payments, expenses and bank transfers. While deposits can occur daily, the schedule of matching transactions occurs each week on Friday.
Q: What prompted you to create this integration with QuickBooks?
A: Share A Refund is a comprehensive business automation service and accounting is a key part of any successful shipment auditing business.
Q: How do I know if the sync is working properly?
A: Navigate to the Merchant Settings page in your account, and tap on the Accounting Sync card to see the status of the configuration with your account. If enabled, audit a recent sales transaction through the entire reconciliation process to be sure that all transactions are created and matched accordingly.
Q: What if a transaction is missing in QuickBooks?
A: Any transaction related to sales invoice, sales receipt, payment or otherwise that is synced into QuickBooks is likely due to error. The directions below are provided as a means of troubleshooting any transaction that didn’t sync to QuickBooks, and provided with the assumption that the transaction isn’t malformed in a way that doesn’t allow the sync to occur.
- Login to your Merchant account.
- Navigate to the Edit Invoice view for the transaction.
- Tap the Sync to QuickBooks button on the top right.
Notes:
- The integration is near real-time.
- Search for the transaction in QuickBooks.
- Look for an error email, if not found.
Q: Does this work for an existing QuickBooks Company?
A: Yes, enabling this feature within your Merchant Account will send transactions to your existing QuickBooks Online Company.
Q: How will these transactions affect my existing books?
A: The existing chart of accounts in place determines if transactions and related accounts are commingled with existing transactions. Stripe fees are routed to the Stripe Processing Fees account name. If this account existed prior to enabling this feature within your Share A Refund account, historical transaction and future transactions will be allocated to that same account. If not, then all transactions will be allocated to new accounts within the chart of accounts, and show up on financial statements as new line items accordingly.
Q: Does this work for a new QuickBooks Company?
A: Yes, enabling this feature will send transactions to your newly created QuickBooks Company. The guide above includes the detailed steps in the getting started workflow for new QuickBooks Online customers.
Q: Does this work for both cash and accrual accounting standards?
A: Yes, all transactions are created following best practices. This enables both accrual and cash based companies to leverage the features within this integration.
Q: Can I change product names and accounts?
A: No. The mapping is done according to, in part, the name of the products and accounts within a QuickBooks Company. As such, these names must match the items defined above.
Q: Are there any fees from Share A Refund in using this service?
A: Absolutely not. This feature is provided as part of the Share A Refund service. Typical fees by third-parties (e.g. Stripe, QuickBooks) will apply.
Q: If I ever need to disconnect in the future, how do I do that?
A: Navigate to the Settings page within your Merchants account, and disable the connection.
Q: What prompted you to create this integration with QuickBooks?
A: Share A Refund is a comprehensive business automation service, and accounting is an important part of any successful shipment auditing business.
Q: How do I know that the sync is working?
A: Navigate to the Merchant Settings page in your account, and tap on the Accounting sync card to see the status of the configuration. If enabled, audit a recent sales transaction through the entire reconciliation process to be sure that all transactions are created and matched accordingly.
Q: What do I do if the sync is not working?
A: In most cases, the reason why the sync is not working is related to a user mistake following the Getting Started directions above. Specifically in the creation of Products and Accounts, as defined within.
Troubleshooting workflow:
- Check the Accounting sync settings within the Merchant Settings page inside your account.
- Verify each Product and Account has been created with every required property defined within the workflow above.
- Note: The sync operates in near real-time, and syncing all transactions inside of Share A Refund within your QuickBooks Online Company could take several minutes.
Q: How far back does the sync go?
A: All transactions within your Share A Refund account will be synced to QuickBooks. If you are just now adding the Accounting Sync to your Merchant account, then all previous transactions will be created and matched within your QuickBooks Online Company.