Integration with QuickBooks Online Essentials (or above) is available with all iClassPro subscription plans. For tracking revenues by Location within a single iClassPro account, QuickBooks Online Plus or higher is required (using QuickBooks Class feature to segment revenue by Location).

IN THIS ARTICLE:
Learn about the information that will be synchronized between iClassPro and QuickBooks Online if this integration is configured.

• Initial Syncing
• Mapping/Identifiers
• Recording Deposits in QuickBooks Online
• Notes

Initial Syncing

• All payments from the "Go Live" date (the start of syncing) to the current date (if the "Go Live" date is in the past) will be synchronized as a lump sum per payment type during the initial process.
• Payments created AFTER a sync has been performed will be included with the following synchronization process, regardless of whether this is accomplished by daily or manual syncing.

After the initial sync, synchronization processes will be reconciled with the Program Deposit Split Report.

• If using the "Daily" synchronization process, run the report with the "Active" date range from the "Go Live" date through the current date.
• If using the "Manual" synchronization process, run the report with the "Created" date range from the "Go Live" date through the date and time of the last sync.

Mapping/Identifiers

iClassPro integration establishes mapping to reconcile totals from your iClassPro reports with your QuickBooks Online account. This mapping allows you to easily identify entries between iClassPro and QuickBooks Online, aiding in reconciliation.

• iClassPro Programs --> QuickBooks Online income accounts
  • iClassPro Programs will be mapped to QuickBooks income accounts. During the initial sync, new income accounts will be created for each iClassPro Program synced for the first time. These new accounts can be merged with your existing income accounts (more details here). 
  • This will be shown as the Program name entered under SETTINGS>SETUP>GENERAL SETTINGS>PROGRAMS.
    • NOTE: The QuickBooks Income Account will not display the Program ID number from iClassPro.
• iClassPro [account_name]-->QuickBooks Class
  • (QuickBooks Online Plus or above required) The iClassPro account will appear as a Class within QuickBooks Online Plus and above for companies with this feature enabled. For accounts with multiple Locations, each Location will be shown as a sub-class under the iClassPro account (Class). If multiple iClassPro accounts are synced to a single QuickBooks Online account, a new Class (and sub-class, where applicable) will be created for reporting purposes.
  • Your [account_name] is displayed as part of the URL used to access iClassPro
    • For example:, https://app.iclasspro.com/portal/[account_name]
• iClassPro Location --> QuickBooks sub-class
  • The iClassPro Location will be created as a QuickBooks sub-class under the account class mentioned above. 
  • This will be shown as the Location name entered under SETTINGS>LOCATIONS, along with the Location ID number
• Payments
  • Credit Card (processed through iClassPro or external source) and eChecks will be reflected in  "Merchant Settlement Account"
  • Cash, Check, and Custom Payment Type will be reflected in "Undeposited Funds"
  • Credit Types (House, Coupon, Other, Gift Card) will be reflected in "Discounts and Credits"

Journal Entries related to payments:

• The first section of the journal entry reflects Payments
• The middle section(s) of the journal entry reflects Programs and Taxes”
  • A single line entry is created for each Program and Tax Rate
  • If you have multiple Locations, there will be a section for each Location
• The last section of the journal entry is for Gift Cards
  • Gift Card sales will be moved from the Gift Card Program to “Gift Card Holding”
  • "Gift Card Holding" shows the current liability for sold Gift Cards that are not yet on a ledger
  • When the Gift Card payment is created, it will move from “Gift Card Holding” to “Unapplied Payments”
    • Any Multiplier given will be shown as "Discounts and Credits" and reflected in “Unapplied Payments"

Recording Deposits in QuickBooks Online

All revenue and payments received are recorded in the journal entry that is synced from iClassPro.

All payments synced from iClassPro are recorded as follows:

• Credit Card (processed through iClassPro or external source) and eChecks will be reflected in "Merchant Settlement Account."
• Cash, Check, and Custom Payment Type will be reflected in “Payments to Deposit” (also known as “Undeposited Funds”).
• Credit Types (House, Coupon, Other, Gift Card) will be reflected in "Discounts and Credits.”

Cash/Checks

To record a deposit of cash and/or checks in QuickBooks Online, enter a new bank deposit. Select the bank account you are depositing funds into.

Select the payments to include in the deposit from the list provided. Cash and checks from iClassPro will be totaled by day and type.

In the “Add Funds” section, you can enter any additional cash or checks to your deposit. You can also add a negative amount for any reductions to your deposit (i.e., cash back, petty cash, cash purchases, etc.).

The total amount shown should match the deposit made at your bank.

Credit Cards/eChecks

To record the deposit of Credit Card payments or eChecks from iClassPro, enter a new bank deposit. In the “Add Funds” section, select the Merchant Settlement account and record the Sub-Total from your “Settlement Summary” email.

To net your processing fees from your deposit, select the expense account for your processing fees on the second line and enter the total as a negative amount. The total amount shown should match the funding that was received in your bank account.

To record eCheck returns in QuickBooks Online

In the event that your returns and refunds are greater than your total Merchant Services Transfer for the day, you will need to enter the net difference.

To record the amount taken from your bank account in QuickBooks Online, enter a new expense. For “Category”, select the Merchant Settlement account and enter the amount of the returned eCheck.

Rules in QuickBooks Online

If you are utilizing the “Rules” feature in QuickBooks Online, you will need to set your rule so that any deposit coming from iClassPro is deposited into your Merchant Settlement Account. Processing fees will need to be entered as a separate journal entry.

To enter these fees, you will need to debit the expense account for your processing fees and credit the Merchant Settlement Account.

Notes

• The sale of a Gift Card is considered a liability until the funds are spent.
• Taxes are treated as liabilities and reported as a single line item for each tax rate per Location
  
  • There is a parent tax account to show total taxes owed across all rates for reconciliation with iClassPro reporting,
  • The Tax entries are based on the defined name of the Tax Rate in iClassPro under SETTINGS>SETUP>GENERAL SETTINGS>TAX RATE.
    • e.g., "Tax Rate - [Tax Rate Name] [ID]"
  • Remittance of sales tax is not reported or managed within iClassPro. You will need to enter sales tax payments into QuickBooks manually.
• Once the initial sync is complete, any changes made to the name of a Program or Tax Rate within iClassPro will not automatically update in QuickBooks. To update these name changes in QuickBooks, you will need to make manual adjustments.
• If a Location name is edited in iClassPro, the system will create a new Sub-class in QuickBooks to match. This new Sub-class will be used for all entries moving forward.