QuickBooks Online can be connected to Thrive Inventory by Shopventory for nightly reports to your QuickBooks account!
QuickBooks Online syncing is included in Professional plans and above. QuickBooks can be enabled on any other plan as a Billing Add-On for $30/mo or $300/yr ($25/mo).
NOTE: This is only for QuickBooks Online. Products like QuickBooks Desktop or QuickBooks Enterprise are not supported.
With QuickBooks, Shopventory will send over an invoice each day with the numbers and information outlined in the following section.
Since each business has a unique chart of accounts, we are not able to help when mapping those numbers in QuickBooks. That job is best suited for your CPA or bookkeeper since you will have more intimate knowledge about your financials.
Each day, for each location, Shopventory will automatically send over:
(1) Summary data in an invoice, including:
Shipping (if applicable)
Tax Collected (if applicable)
(2) Transaction information, in the form of a detailed invoice including:
Total Cost of Goods sold (COGS)
As well as the following for each category:
(3) A Payment for each payment type, including:
Shopventory's entries do not affect the General Ledger in QuickBooks, as each business does things a little differently. We simply push the balanced information and allow you to allocate the lines according to your preference. Once again, Shopventory is not able to assist with this process and it is best left for our CPA or bookkeeper.
To explain further, the data doesn't "map" - rather we send the information over on an invoice that is broken out by location/category/tender type/etc. That information will sit on the invoice until you post the numbers to the appropriate line items on your chart of accounts. Once the numbers are manually moved, you'll want to clear the invoice we sent over so it doesn't show up in your Accounts Receivable section.
How to Connect:
In the Settings section of Shopventory, click on the Accounting tab, and use the button in the top right to add your QuickBooks integration.
This will prompt you to log into QuickBooks to authorize Shopventory.
Once you're back in Shopventory, just make sure you enable syncing. There should be a green "ON" indicator to let you know Shopventory will push out values later tonight.
Things to note
This is only for QuickBooks Online. Products like QuickBooks Desktop or QuickBooks Enterprise are not supported.
Sales reports are only sent from the day Shopventory was connected going forward. We do not send information on prior dates to QuickBooks.
QuickBooks will NOT count towards your plan's location/integration limit.
Invoices are sent between 2 a.m. - 4 a.m. (in the account owner's timezone)
Purchase Order information and inventory data is NOT sent to QuickBooks
Shopventory does not have any part in bill pay functions
Each location will have a separate invoice broken out.
QuickBooks Online does not offer a trial unless you are trialing the Pro+ plans.
The Billing Add-On is not removed if you disconnect the QuickBooks Online integration. You will have to visit the Billing settings in Shopventory to stop any further billing for an Add-On.
Still have questions? We are here to help!
Start a chat with us by clicking the chat bubble at the bottom-right of this page.