This applies if you use tax rates (tax codes) for billing invoices and/or accounts payable vouchers. The initialization process that you complete when you first set up the QuickBooks integration in
Vantagepoint, adds tax rates from QuickBooks Online as tax codes in
Vantagepoint.
Mapping links tax codes in
Vantagepoint with the matching QuickBooks Online tax rates so that one set of tax codes/rates is used by both QuickBooks Online and
Vantagepoint.
WARNING: If you create transactions that are shared between
Vantagepoint and QuickBooks Online using tax codes/rates that are
not mapped between the two products, the transactions are
not updated in the other product the next time the updating occurs between the two products. For more information see
Failed Transactions Due to Missing Account or Tax Code Mapping.
Prerequisites:
- Enter tax rates in QuickBooks Online in
.
- In
Vantagepoint, use the QuickBooks Integration utility to enable the QuickBooks integration and connect QuickBooks to
Vantagepoint. For more information, see
Enable QuickBooks Integration and Connect QuickBooks Online with
Vantagepoint.
- On the Integration Setup tab in the
Vantagepoint QuickBooks Integration utility, enter default general ledger accounts in the
Default Tax Credit Account field for billing invoices and in the
Default Tax Debit Account field for AP vouchers. For more information about these accounts, see the field descriptions in the following topic:
Integration Setup Tab of the QuickBooks Integration Form.
- If you use taxes for AP vouchers, before you run the initialization, you must enable the Tax Auditing feature in
.
To copy QuickBooks Online tax rates to
Vantagepoint as tax codes and map them:
-
In
Vantagepoint, complete the steps in the following topic to run the initialization process to copy records from QuickBooks Online to
Vantagepoint for the first time, including tax rates from QuickBooks Online:
Copy QuickBooks Online Records to
Vantagepoint for the first time. The tax rates are copied to
Vantagepoint and automatically mapped.
The tax rates are copied to the following locations in
Vantagepoint:
- .
- Tax Code Mapping tab in
.
-
Review the mapping between
Vantagepoint tax codes and QuickBooks Online tax rates:
-
In the
Vantagepoint Navigation pane, select
.
You can access this utility when you log in to
Vantagepoint using your setup credentials during the initial
Vantagepoint setup or when you log in to
Vantagepoint without your setup credentials after the initial setup.
-
On the Tax Code Mapping tab, review the tax codes in the tax codes grid.
Tax codes were created for
Vantagepoint from the tax rates from QuickBooks Online during the initialization and they display in the grid. The
QuickBooks Online Reference field in the grid displays the QuickBooks Online tax rate that was automatically mapped to the
Vantagepoint tax code that is displayed in the
Tax Code field in the grid.
-
If you need to change a QuickBooks Online tax rate that is mapped to a
Vantagepoint tax code, click
in the
QuickBooks Online Reference field to select a different QuickBooks Online tax rate.
The mapping is updated in QuickBooks Online the next time the updating occurs between
Vantagepoint and QuickBooks Online.
-
Click
Save.