Quickbooks Payments Integration Guide
Quickbooks is one of the most popular cloud accounting solutions for small businesses and accounting. A major advantage of Quickbooks for businesses selling online is its ability to integrate with payment systems, allowing websites to easily accept, make and track payments online. Here we’ll provide an overview of Quickbooks payments integration, including how it works, the benefits it offers, and how to set it up for your website.
How does Quickbooks integration work?
Connecting Quickbooks accounts to your website or online store enables businesses to create a single, seamless system for tracking payments, updating inventory levels, and managing invoices and bills for sales and expenses. With Quickbooks as your centralised information management platform, you can control your sales and cash levels in real time from a single source.
What are the benefits of a Quickbooks payments integration?
Setting up your Quickbooks payment integration has a number of benefits for e-commerce businesses, including:
- Improved accuracy: By automating the process of recording transactions, you can reduce the risk of errors and ensure that your financial data is always up to date in Quickbooks’ ledger.
- Increased efficiency: Integrating your website with your payments eliminates the need for manual data entry and enables you to use other built-in Quickbooks features such as sales reporting and budgeting to optimise your channels.
- Real time stock management: By integrating your payments, you can track sales in real time to manage inventory more flexibly using Quickbooks automated stock notifications.
- Improved customer experience: With a Quickbooks integration, you can offer your customers a seamless checkout experience, which can help to increase customer satisfaction and loyalty.
How to integrate with Quickbooks
Quickbooks website integration is straightforward, even for non-technical business owners:
- Choose the right website: Ensure your web hosting platform provides the QuickBooks Web Connector service to perform the integration and directly update QuickBooks data.
- Install the Quickbooks plugin or extension: Install the Quickbooks plugin or extension on your e-commerce website. This usually involves downloading the plugin or extension from the Quickbooks website and uploading it to your website.
- Connect your website to your Quickbooks account: Once the plugin or extension is installed, enter your Quickbooks login credentials and grant permission for the plugin or extension to access your account.
- Configure your settings: Once connected, configure your settings to specify how you want your financial data to be recorded, such as selecting which payment gateways you want to use and setting up any custom fields or tax rates.
- Test your integration: Once you have set up your Quickbooks integration, it's a good idea to test it to make sure everything is working as expected. This may involve placing a test order on your website and verifying that it is recorded correctly in Quickbooks.
- Start accepting payments: After you have successfully set up your Quickbooks integration, you can begin accepting payments with all revenue automatically recorded in Quickbooks, making it easier for you to manage your financial data.
How does the Quickbooks integration API work?
The Quickbooks integration API (Application Programming Interface) is a set of programming instructions that allows businesses to connect their website or online store to their Quickbooks account, enabling the automatic exchange of data between the two systems.
Through an API, data can be shared instantly, reliably and securely, recording payment data in the accounting ledger without the need for manual data entry or rekeying information between systems. While the back-end of these systems can be configured in many ways, the vast majority of businesses can use this feature ‘out of the box’, setting up the connection with the simple steps above.
Which POS Quickbooks integration is right for my business?
Recent years have seen a range of different POS (Point of Sale) integrations become available for Quickbooks, offering more choice to business owners. Key factors to consider when choosing a POS integration include the type of business you have, the available integrations with your particular website and any other value-add services you are looking to provide.
iwocaPay, for example, includes Quickbooks integration that allows businesses to accept payments instantly from all customers without the card fees , and offer Buy Now PayLater for business customers to spread the cost of larger purchases.
Other popular POS integrations for Quickbooks include Square, Shopify, and Clover, which offer different features and combinations of functionality, which may suit some businesses more than others.
- Borrow up to £500,000
- Repay early with no fees
- From 1 day to 24 months
- Applying won't affect your credit score
What is cloud accounting?
Cloud accounting allows you to keep track of your income and expenses with real-time, accurate, and secure bookkeeping. Find out how it works.
What is Integrated Accounting Software?
Using integrated accounting software provides real-time reporting that is updated after every sale. Find out how they work and how your business can get started.
A management buyout (MBO) is a well-known strategy in the business world that allows the existing management team to take control of a company by purchasing either all or a majority of the company's shares from its current owners. In the UK, management buyouts have gained significant popularity as a means of acquiring and managing businesses.
Supply chain finance
Supply chain finance plays a crucial role in the success of businesses in the UK. It involves various financial techniques and solutions that help optimise the movement of goods and funds along the supply chain. By understanding the basics of supply chain finance, businesses can unlock potential opportunities and drive growth in the competitive market.
How to get a bank statement
In today's digital age, managing your finances has become easier than ever before. One essential document that every individual should be familiar with is a bank statement. A bank statement is a detailed record of your financial transactions, providing crucial information about your account activity. Let's dive deeper into understanding the importance of a bank statement and explore the different types available.