Magento is one of the open-source e-commerce apps used by millions of customers every day. At the same time, QuickBooks Online is the web version of the popular accounting software. It is the cloud version of QuickBooks Desktop. This tool will enable you to keep track of all business transactions, cash flows, inventories, etc., 24/7. It offers accounting, billing, and payments a breeze and helps to check off accounting tasks on the go, and helps organize your business’s finances.
Magento QuickBooks Online Integration lets you automatically synchronize information between them, including customers, sales, products, and invoices data. Hence, you can better manage accounting data more efficiently.
When the customer places an order, the system will examine whether this information has already been stored in a database; if yes, the system will update the information; otherwise, this new customer will be added to the customer list.
Multiple payment ways that are supported for your Magento are under the control of QuickBooks Online quite well. This means when installing QuickBooks Online extension; every existing way is auto-transmitted from Magento to QuickBooks Online.
If there is any new one, it will be added immediately into the management system of QuickBooks Online.
One of this extension’s most exceptional characteristics is that all the data is synchronized quickly; no time and manual approach are needed.
This integration serves customers to get better financial management by automatically updating all the data from Magento to QuickBooks in real time. The amount of time you employ tracking down transaction data, fixing errors, and manually entering data is now fixed by QuickBooks Online Integration.
Features of Magento QuickBooks Integration
Magento and QuickBooks Integration present you with excellent features for handling your Magento store.
Several industry-leading features comprise:
Payment Method Mapping
Magento and QuickBooks integration is associated with payment methods. It lets you efficiently map ones used in Magento to QuickBooks Invoices. Thus, it is possible to maintain track of different payment methods popular between your customers in your Magento.
Tax Rates Mapping
It allows you to map the tax rates of Magento orders to QuickBooks. Hence, you ensure that the tax calculation in Magento and QuickBooks are accurate. Moreover, it is also possible to synchronize QuickBooks-compliant tax codes from Magento to your accounting system.
It allows you to transfer information When a customer pays for an order successfully to QuickBooks to create a new invoice. Moreover, the plugin grants the ability to move changes applied in Magento to QuickBooks. You can smoothly synchronize payment methods and tax codes from Magento to QuickBooks.
You can easily sync your customers between Quickbooks and your e-commerce website; when a customer is created in Magento, the module exports data to your QuickBooks account. If the customer information is altered, the update is also presented to the accounting platform.
Orders can be efficiently transferred from Magento to QuickBooks automatically. When a customer buys products and services in Magento, a new Unpaid Invoice is created in QuickBooks. The changes applied to orders are shifted to the accounting system as well as a part of the Magento QuickBooks integration.
It also allows you to transfer products between Magento and QuickBooks. It is possible to export data from your Magento store according to a schedule or when a new product is produced. Besides, you can automatically send product updates when you change the Magento admin’s relevant information with the Magento QuickBooks integration.
It allows you to track income from your e-commerce website in QuickBooks efficiently. It automatically updates incomes to your profit and loss statement according to a schedule or when a particular event happens.
You can decide what entities to synchronize: products, orders, invoices, customers, credit memos, etc.
How Magento Works with QuickBooks
QuickBooks integration is an excellent tool to manage your Magento customers, invoices, products, and credit memos. So, QuickBooks makes it more effortless for you to handle everything in one go.
It bridges the gap between Magento and QuickBooks to guarantee complete and accurate accounting when using QuickBooks Online and Magento platform. The data entered in Magento seamlessly flows within QuickBooks Online, capturing crucial business data for your accounting department.
It has managed to maintain a good reputation by syncing your account with QuickBooks. This guarantees the maintenance of records on one-page and avoids all the manual errors since everything is updated automatically.
Therefore, it maximizes your sales. So, you can maintain your sales with accurate records and give customers the best services by integrating your Magento sales account with QuickBooks.
Advantages of QuickBooks Magento Integration
- It enables synchronizing and updating Customers from Magento to QuickBooks Online both manually and automatically.
- It allows synchronizing and updating Products from Magento to QuickBooks Online both manually and automatically.
- It will enable synchronizing Orders from Magento to QuickBooks Online both manually and automatically.
- It enables synchronizing Invoices from Magento to QuickBooks Online both manually and automatically.
- It allows synchronizing Credit Memos from Magento store to QuickBooks Online both manually and automatically.
- It will enable the admin to view the log to see what is synchronized between two apps.
- It allows the admin to manage the sync queue to see what will be synchronized next.
- It enables mapping payment methods with deposit accounts.
Does my QuickBooks Desktop Integration Sync inventory locations in QuickBooks with the multi-location inventory in Magento?
No, the multi-location inventory feature is not available in the QuickBooks Desktop integration.
Does the QuickBooks integration Sync Bulk Products upload?
Yes, with each product designed in Magento, it will create a corresponding one on QuickBooks.
Will there be any Problem if there is Existing Data in the QuickBooks account?
No, there won’t be any conflicts in the synchronization in case the synced data has already existed in QuickBooks.