Intuit and QuickBooks are registered trademarks of Intuit Inc. Used with permission.

Your Guide to Connecting PocketSuite with QuickBooks!

Hey there, PocketSuite Pro! We're excited to help you make managing your money even easier by connecting your PocketSuite account to QuickBooks. This guide will walk you through what the integration is, how to set it up, and how your transactions will show up in QuickBooks. Get ready to save time and keep your finances super organized!

What is the QuickBooks Integration?

Think of it like this: your PocketSuite account already helps you run your business, from booking clients to collecting payments. QuickBooks helps keep your actuarial accounting in order. This integration is like building a special bridge between PocketSuite and QuickBooks.

The big idea is to let PocketSuite automatically record your sales and expenses in QuickBooks for you. This means you won't have to manually move your money info from PocketSuite to QuickBooks anymore.

Here’s a basic flow of how funds move from PocketSuite to QuickBooks: 

Payment processed in PocketSuite > Sales Receipt (for payment) and Expense (for processing & transaction fee) created in QuickBooks, funds attributed to Undeposited Funds > Payout transfers funds from PocketSuite balance to your bank account or instant payout eligible debit card > Transfer is created to move funds from Undeposited Funds to the bank account you selected during setup. 

Payment is refunded in PocketSuite > Refund receipt is created in QuickBooks, funds pulled from Undeposited Funds. 

Note that transactions are sent to PocketSuite nightly. You cannot automatically import transactions to QuickBooks retroactively, only future transactions starting the day you set up the integration can be imported automatically. 

By understanding how PocketSuite talks to QuickBooks, you can keep your financial records accurate and spend less time on accounting and more time on what you love to do! If you have any questions, remember to check the PocketSuite Help Center or reach out to our support team.

How to Set Up Your QuickBooks Integration

Ready to get started? Here's how to connect PocketSuite to your QuickBooks account:

Important Note: You must have a full QuickBooks Online subscription to use this integration. Unfortunately, the QuickBooks Solopreneur subscription does not support 3rd party app integrations.

1. Turning the Feature On

First, you need to turn on the QuickBooks integration feature in PocketSuite:

• Go to your Settings in PocketSuite.
• Look for Features and find "QuickBooks".
• Toggle this feature ON.
• Important Note: This is a special, "premium" feature. It's available in many plans, but not in Basic or older free plans. You might need to upgrade your PocketSuite plan to use it.

2. Connecting to Your QuickBooks Account

Once the feature is turned on:

• Go to the Payments section in your PocketSuite Settings. You'll see "QuickBooks integration" listed there.
• Tap on "QuickBooks integration."
• The first screen you see will ask you to connect with QuickBooks. Follow the steps to sign into your QuickBooks account.
• You can connect the same QuickBooks account to multiple PocketSuite accounts, which is helpful if you have different business locations. Note that you can only connect one QuickBooks Business to one PocketSuite account. Just like in PocketSuite, QuickBooks supports multiple businesses under a single login. 
  
  

3. Customizing Your Settings:Choosing Where Your Money Goes

After you connect, you'll see a screen to set up how your money is recorded. It's important to make sure you have the right bank accounts or debit cards set up in QuickBooks, and the right accounts for where you want to record your PocketSuite transactions.

 

• Income Account (Where your sales money goes):
  This setting tells quickbooks where to record income from your different sales.This setting helps you tell QuickBooks where to record the money you earn from different things you sell.

    ◦ Default income account: This is the main place where most of your sales money will be recorded. This is where surcharges, unitemized transactions, and expensed items (like “Labor”) on Invoices and Estimates go. 

    ◦ You'll see a toggle that says "Apply to all transaction types." If this is ON (which it is by default), all your sales will go to that one "Default income account".

    ◦ If you turn it OFF, you can choose specific accounts for different types of sales. This is where it gets smart!

 

• How it Works with Items: When you pick an income account for a specific type of sale (like "Services" or "Products") in PocketSuite, PocketSuite will create a special "item" in QuickBooks for you, like "PocketSuite Services" or "PocketSuite Standalone Products." This "item" will be linked to the income account you chose. Then, when a customer pays you for a service, that sale will be recorded in QuickBooks using the "PocketSuite Services" item and will show up in the income account you picked for services.
  
   
• You can choose accounts from your QuickBooks chart of accounts that are classified as "Income" or "Other Income". Here are some of the sales types you might choose accounts for:
  
   

    ◦ Service bookings: For payments tied to service bookings or services itemized on Invoices, Estimates, and charges.

    ◦ Class bookings: For payments tied to class bookings or classes itemized on Invoices, Estimates, and charges.

    ◦ Reservation bookings: For payments tied to reservation bookings or reservations itemized on Invoices, Estimates, and charges.

    ◦ Package sales: For payments tied to packages.

    ◦ Subscription sales: For payments tied to subscriptions.

    ◦ Gift certificate sales: For payments tied to gift certificates.

    ◦ Product sales: For payments tied to product orders or products itemized on bookings, Invoices, Estimates, and charges.

    ◦ Gratuity: For tips your clients give you for any transaction type.

    ◦ Shipping Fees: For any payments you receive specifically for shipping fees.

    ◦ Discount: To record any discounts you give.

• Expense Account (Where your fees go):

    ◦ This is where PocketSuite will record processing and transaction fees.

 

• Checking Account (Where your PocketSuite money is deposited):

    ◦ Choose the bank account in QuickBooks where your PocketSuite payouts are typically deposited.

    ◦ You'll see a list of accounts classified as "Bank" in QuickBooks. Note that if you change your payout account in PocketSuite, you will need to make that change in QuickBooks as well..

 

• Instant Payout Debit Card (if enabled):

    ◦ If you utilize instant payouts to a debit card, this option will appear.

    ◦ Choose the debit card account in QuickBooks where your instant payouts are deposited.

 

• Completing Setup:

    ◦ Once you've made all your choices, tap "Done" to complete setup.

    ◦ Disconnecting: At any time, you can scroll to the bottom and tap "Disconnect from QuickBooks" to disable the integration.

How PocketSuite Records Your Money in QuickBooks

Once set up, PocketSuite will automatically send information to your QuickBooks account in a way that keeps everything organized..

1. "PocketSuite Client" and "PocketSuite Inc."

•  PocketSuite Client: For all your sales and refunds in QuickBooks, PocketSuite will use a general customer named "PocketSuite Client." This helps keep your sales organized without creating a new customer in QuickBooks for each individual client you work with. Since PocketSuite is the system of record for your operations, the transactions are streamlined for reconciliation.
  
   
• PocketSuite will also create a "Vendor" in QuickBooks called "PocketSuite Inc." This is used when recording expenses such as processing fees.

2. Where Your Money Goes First: "Undeposited Funds"

•  In QuickBooks, funds are placed into and removed from Undeposited Funds, since the funds have not yet been deposited into your bank account.
  
   
• This helps prevent double-counting and more accurately reflects your PocketSuite balance.

3. Sales Receipts (When You Get Paid)

•  What they are: A Sales receipt is a record in QuickBooks that shows you've received money for a sale.
  
   
• When they are made: PocketSuite will create a Sales receipt in QuickBooks every time a payment is successfully processed in PocketSuite, or when you mark a transaction as "Paid".
  
   
• What's inside:

    ◦ Each Sales receipt will use the generic "PocketSuite Client" customer.

    ◦ The money will first be deposited into your Undeposited Funds account.

    ◦ Line Items: The Sales receipt will break down your sale into different parts, using the "items" PocketSuite created for you (like "PocketSuite Services" or "PocketSuite Standalone Products") and linking them to the income accounts you chose in PocketSuite. For example, if a client books a service with an add-on product, a tip (gratuity), and sales tax, each of these will appear as separate lines on the Sales receipt .

    ◦ Sales Tax: PocketSuite will make sure the exact sales tax amount you charged is recorded, preventing QuickBooks from trying to calculate it automatically potentially causing errors.

 

    ◦ Notes: A private note on the Sales receipt will include your client's name and details about what the payment was for, like "Haircut, shampoo, travel" or "Deposit for booking on [Date]".

 

    ◦ Date: The date on the Sales receipt will be the same as the date the payment was recorded in PocketSuite.

4. Expenses (Fees You Pay)

•  What they are: Expenses are records of money taken out of your PocketSuite balance, such as processing fees or dispute fees . These are recorded as Purchases in QuickBooks.
  
   
• When they are made: These are created when processing fees (like the $0.30 transaction fee and percentage fees) are deducted from your PocketSuite balance.
  
   
• What's inside:

    ◦ The expense will reference your Undeposited Funds account .

    ◦ It will be linked to the expense account you selected during setup .

    ◦ The "Vendor" for processing fees will be "PocketSuite Inc.".

    ◦ A description will say "Processing fees"

    ◦ The date will reflect the date on which the fee was withdrawn from your PocketSuite balance.

5. Transfers (Deposits to Your Bank)

•  What they are: When PocketSuite sends money from your balance to your bank account, this is recorded as a Transfer in QuickBooks.
  
   
• When they are made: A Transfer is created for each deposit PocketSuite sends to your bank.
  
   
• What's inside:

    ◦ The money moves FROM your Undeposited Funds account .

    ◦ The money moves TO the bank account or instant payout debit card you chose during setup.

    ◦ Important Note: If you mark a payment as “Paid” in PocketSuite without processing it through PocketSuite, the payment will not transfer automatically to QuickBooks. You will need to record those transactions manually. 

6. Refund receipts

•  What they are: A Refund receipt is created in QuickBooks when money is refunded to a client or when a charge is disputed.
  
   
• When they are made: A Refund receipt is created as soon as a refund or dispute starts and is reflected in your PocketSuite balance.
  
   
• Note that when a mark paid transaction is undone in PocketSuite, no refund receipt is generated, the original sales receipt is simply voided.
  
   
• What's inside:

    ◦ Refund receipts are designed to match the original sales receipt as closely as possible, including items, sales tax, discounts, and gratuity. For partial refunds without fees, the difference is prorated across all items. If the original payment included a surcharge and the refund has no fees, that surcharge will not appear on the Refund receipt. 

    ◦ Refunds are issued from your Undeposited Funds account.