Enter and Process Transactions in Vantagepoint and QuickBooks Online
When you use QuickBooks integration with Vantagepoint, you enter certain transactions in Vantagepoint and other transactions in QuickBooks Online.
Transactions are automatically updated in the other product at the time interval specified by your system administrator. Additionally, you can run the update process at any time by clicking the Process Changes Now button on the Integration Setup tab in the QuickBooks integration utility.
The following tables show you which transactions are shared between Vantagepoint and QuickBooks Online and where you must enter them.
Transactions You Enter in Vantagepoint
In Vantagepoint | Result |
---|---|
Enter, approve (optional), and post timesheets. | Timesheet hours are added to QuickBooks Online for processing payroll. |
Enter, approve (optional), and post employee expense reports. | Expense reports are added as vendor bills in QuickBooks Online. |
Enter and post billing invoices. | Billing invoices are added to QuickBooks Online. |
Enter billing transfers. | Journal entries are added to QuickBooks Online. |
Enter and post accounts payable vouchers. | AP vouchers are added as vendor bills in QuickBooks Online. |
Enter and post journal entries. | Journal entries are added to QuickBooks Online. |
Enter and post consultant accruals. | Journal entries for consultant accruals are added to QuickBooks Online. |
Enter and post units. | Journal entries for unit costs are added to QuickBooks Online. |
Run revenue generation and post it. | Revenue generation journal entries are added to QuickBooks Online. |
Transactions You Enter in QuickBooks Online
In QuickBooks Online | Result |
---|---|
Process payroll using hours from Vantagepoint. | No data is updated in Vantagepoint. |
Pay the vendor bills for employee expense reports from Vantagepoint. | Expense report payments are added to Vantagepoint. |
Enter payments received from customers for billing invoices. | Billing invoice payments are added to Vantagepoint. |
Pay the vendor bills for accounts payable vouchers from Vantagepoint. | AP payments are added to Vantagepoint. |
Enter journal entries. | Journal entries are not added to Vantagepoint. |
- Related Topics:
- Recurring Transactions and QuickBooks Integration
If you have transactions that occur each accounting period with little or no difference in content (such as journal entries for depreciation, utility bills, or payroll entries), you can create recurring transactions for them in Vantagepoint that will be posted automatically each month. - Undoing Postings and QuickBooks Integration
Use the Undo Posting utility in Vantagepoint to remove certain posted transactions from both Vantagepoint and QuickBooks Online. - Timesheets and Payroll When You Use QuickBooks Integration
Enter timesheets in Vantagepoint. The hours from the timesheets are used to process payroll checks in QuickBooks Online. - Employee Expense Reports and Payments When You Use QuickBooks Integration
Enter expense reports in Vantagepoint and pay employees for the expenses incurred in QuickBooks Online. - Billing Invoices and Payments Received When You Use QuickBooks Integration
Enter billing invoices in Vantagepoint and the payments received for them in QuickBooks Online. - Billing Transfers and QuickBooks Integration
Billing transfers that you make in Vantagepoint for expense and unit costs are updated in QuickBooks Online. - AP Vouchers and Vendor Payments When You Use QuickBooks Integration
Enter accounts payable vouchers for project expenses in Vantagepoint. Pay the vendor bills for the vouchers in QuickBooks Online. - Journal Entries and QuickBooks Integration
Enter journal entries in either QuickBooks Online or Vantagepoint. - Revenue Generation and QuickBooks Integration
When you run the revenue generation process in Vantagepoint, the journal entries created for it in Vantagepoint are added in QuickBooks Online. - Consultant Accruals and QuickBooks Integration
Enter and post consultant accruals in Vantagepoint. - Units and QuickBooks Integration
In Vantagepoint, enter unit transactions to charge labor and expenses to projects at a flat rate.
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