IN BRIEF
Reconciling QuickBooks Online with iClassPro Reports involves understanding how charges, payments, and adjustments flow between both systems. iClassPro’s Program Deposit Split Report (FIN-4) and Tax Reconciliation Report (FIN-16) provide the most accurate alignment with QuickBooks Online’s journal entries, balance sheet details, and profit and loss data. Administrators can use these reports to verify income distribution, applied and unapplied payments, taxes, and gift card activity. 

• Overview
• Accessing the Reports
• Step-by-Step Instructions
  • Useful Reports
  • Reconciling Journal Entries with the Program Deposit Split Report (FIN-4)
  • Reconciling the Balance Sheet with the Program Deposit Split Report (FIN-4)
  • Reconciling Profit and Loss with the Program Deposit Split Report (FIN-4)
• Troubleshooting & FAQs
• Related Articles

Overview

Reconciling QuickBooks Online with iClassPro Reports ensures that revenue, payment entries, taxes, and liability accounts match what is recorded in iClassPro. Because iClassPro only synchronizes entries created within the System, administrators must avoid manually adjusting or creating new entries in QuickBooks Online to prevent discrepancies. When reconciling by Location, QuickBooks Online Plus or higher is required to use the QuickBooks Class feature.

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Accessing the Reports

Integration with QuickBooks Online Essentials (or above) is supported for all iClassPro subscription plans. To track revenues by Location from a single iClassPro account, QuickBooks Online Plus or higher is required.

When preparing for reconciliation, the following iClassPro financial reports are most useful:

• Program Deposit Split Report (FIN-4)
• Tax Reconciliation Report (FIN-16)

For best results, use the automatic/daily sync configuration when syncing to QuickBooks Online.

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Step-by-Step Instructions

Useful Reports

The following iClassPro financial reports may be useful in reconciliation:

• Program Deposit Split Report (FIN-4)
• Tax Reconciliation Report (FIN-16)

NOTE: As iClassPro only synchronizes entries that were created in iClassPro, manually adjusting or creating entries in QuickBooks Online may cause discrepancies when reconciling.

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Reconciling Journal Entries with the Program Deposit Split Report (FIN-4)

The top part of the Journal Entry is for Payments received.

• Merchant Settlement Account:
  • Credit Card Payments CNP, CP, and CC External will match individually
  • eCheck Payments will match eCheck
• Undeposited Funds
  • Cash, Physical Checks, and Custom Payment Types will match individually
• Discounts and Credits
  • House, Other, and Coupon will match individually
• Unapplied Payments (Credits - Upper entry)
  • The total of all payments received for the sync period will be entered as a credit to "Unapplied Payments"

The middle of the Journal Entry is for Program totals.

• Unapplied Payments (Debits - Lower entry)
  • The total of all payments applied to Programs for the sync period will be entered as a debit to "Unapplied Payments"
• Program Totals
  • The credit to each income account will be equal to the Total less Taxes for each Program on the Program Deposit Split Report
• If there are any "Adjustments Made to Payments Received Prior" to the sync period, this will be reflected in the credit to the income account

NOTE: If there are multiple Locations, there will be a separate line for each Program Total per Location.

The end of the Journal Entry is for Gift Cards.

• Totals for Gift Card sales will be debited from the income account of the appropriate Program
• Gift Card sales will be credited to "Gift Card Holding"
• Gift Card sales will be debited from "Gift Card Holding" and credited to "Unapplied Payments" upon the Payment creation in iClassPro
• Any Gift Card multiplier will be credited to "Unapplied Payments" and will debit "Discounts and Credits"

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Reconciling the Balance Sheet with the Program Deposit Split Report (FIN-4)

Assets

• Merchant Settlement Account
  • Will include CNP, CP, CC External, eChecks
• Undeposited Funds
  • Will Include Cash, Physical Checks, and Custom Payment Types

Liabilities

• Gift Card Holding – Total for Gift Cards sold, but the payment not yet created
• Taxes – shows a total for each Tax Rate in iClassPro
  • Total can be matched with Program Deposit Split Report (FIN-4)
    • NOTE: Be sure to select the option to show "Show Total tax for program and charge category"
  • To match individual totals, use the Tax Reconciliation Report (FIN-16)
    • NOTE: Be sure to select the option to show "Totals For Each Tax Rate"

Unapplied Payments

• This is the total of outstanding credits on family ledgers since the "Go Live" date and will equal the sum of:
  • "Unapplied Payments"
  • "Unapplied Failed Payments"
  • "Unapplied Refunds"
  • "Unapplied Deleted Refunds"
  • "Unapplied Payments" from "Adjustment Made To Payments Received Prior To" section of the Program Deposit Split Report (FIN-4)

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Reconciling Profit and Loss with the Program Deposit Split Report (FIN-4)

NOTE: When generating the Profit and Loss Report in QuickBooks Online, use the "Display Columns By" option:

• Total: Shows a single total for all accounts reported within your QuickBooks Online account.
• Classes: Displays totals in separate columns for each iClassPro Location.
  • NOTE: Credit payments are not assigned to a specific Location within QuickBooks Online. Items on your Profit and Loss statement without an assigned class will appear in the "Not Specified for Classes" column.

Income

• Discounts and Credits
  • This will include  House, Other, Coupon, and the Gift Card multiplier.
    • NOTE: Calculating the Gift Card multiplier involves manually subtracting the amount collected for Gift Cards from the total Gift Card payment type.
• Programs
  • Each Program will be reported in a unique income account.
    • Program totals can be reconciled by subtracting Taxes from the Program total
    • Any amounts reported in the "Adjustment Made To Payments Received Prior To" section on the Program Deposit Split Report (FIN-4) will be reflected in the income reported

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Troubleshooting & FAQs

• Why do my QuickBooks Online totals not match what I see in iClassPro?
  • Ensure no manual entries or adjustments were made directly in QuickBooks Online. Only entries created through the iClassPro sync are supported for reconciliation.
• My tax totals do not match between QuickBooks Online and iClassPro. What should I check?
  • Confirm that you enabled the display options “Show total tax for program and charge category” in the Program Deposit Split Report (FIN-4) and “Totals for Each Tax Rate” in the Tax Reconciliation Report (FIN-16).
• Why do some credit payments appear under “Not Specified for Classes”?
  • Credit payments are not assigned to a specific Location within QuickBooks Online and therefore appear in the unclassified totals.

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Related Articles

• What Is the Program Deposit Split Report (FIN-4)?
• What Is the Tax Reconciliation Report (FIN-16)?
• How Do I Sync iClassPro With QuickBooks Online?

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