General Ledger Accounts and QuickBooks Integration
When you use QuickBooks Online with Vantagepoint, you set up general ledger accounts in QuickBooks Online and map them to corresponding accounts in Vantagepoint.
Transactions Created with General Ledger Accounts that Are Not Mapped
If you create transactions that are shared between Vantagepoint and QuickBooks Online using general ledger accounts that are not mapped between Vantagepoint and QuickBooks Online, the transactions are not added to the other product when updating occurs between the two products. For more information, see Failed Transactions Due to Missing Account or Tax Code Mapping.
Initial Mapping of General Ledger Accounts
After you run the initialization process during the initial QuickBooks integration setup, general ledger accounts from QuickBooks Online are automatically mapped (linked) to general ledger accounts in Vantagepoint if a match is found based on account name. You see the mapping in Vantagepoint on the Accounts Mapping tab in . Also, accounts from QuickBooks Online are added to Vantagepoint during the initialization process if the accounts are not already entered in Vantagepoint (based on account name). The accounts are added to the chart of accounts in Vantagepoint in , and in the accounts grid on the Accounts Mapping tab in the QuickBooks integration utility. On the Accounts Mapping tab, you manually map any accounts that did not get automatically mapped.
For instructions on mapping general ledger accounts, see Map General Ledger Accounts Between Vantagepoint and QuickBooks Online for the First Time.
Mapping the Employee Expense Report Accounts
When you set up a liability account to use for employee expense reports, you must map the liability account in Vantagepoint to a specific QuickBooks Online account whose type is Accounts Payable (A/P). If you fail to do this, expense reports entered in Vantagepoint will not be added to QuickBooks Online.
Subcontractor Accrual Account 213.00
A subcontractor accrual account 213.00 comes standard with Vantagepoint. It is used for offsetting transactions for consultant accruals in Vantagepoint. You must not map this account to a valid accounts payable account in QuickBooks Online. If you do, consultant accruals will not be processed correctly between Vantagepoint and QuickBooks Online.
You can link the subcontractor accrual account 213.00 to a miscellaneous account in QuickBooks Online.
Mapping Accounts for Taxes Used for Billing Invoices and AP Vouchers
If you include taxes on billing invoices, accounts payable vouchers, or both, QuickBooks Online tax rates get mapped to Vantagepoint tax codes. Vantagepoint associates tax codes with general ledger accounts for tracking purposes, but QuickBooks Online does not. Therefore, you do not need to map the general ledger tax accounts in Vantagepoint with any tax accounts in QuickBooks Online.
Adding New General Ledger Accounts
After the initial setup of general ledger accounts, when you need to add a new account, you add the account in QuickBooks Online in . The new account is added to Vantagepoint the next time the automatic or manual updating occurs between QuickBooks Online and Vantagepoint.
The account from QuickBooks Online is added to Vantagepoint in and to the accounts grid on the Accounts Mapping tab in . In the grid, you must map the QuickBooks Online account to the Vantagepoint account by selecting the corresponding QuickBooks Online account in the QuickBooks Online Reference field.
For instructions, see Map New General Ledger Accounts Between Vantagepoint and QuickBooks.
Making Changes to General Ledger Accounts
In Vantagepoint, you cannot edit any of the general ledger fields that are shared with QuickBooks Online. The fields are read-only in Vantagepoint. Make any changes in QuickBooks Online. The changes are updated in Vantagepoint the next time the automatic or manual updating occurs between QuickBooks Online and Vantagepoint.
The following are the general ledger account fields that are shared in Vantagepoint and QuickBooks Online.
- Number
- Name
- Type
- Status