Defining QuickBooks Settings for IIF Export

RezOvation GT can export key financial information directly into QuickBooks. Export revenue information, payments, advance deposits, gift certificates, accounts receivable information, and more.

First, we recommend that you follow some best practices, as well as understand how the data is exported to QuickBooks.  

Ready to go?  Before you can begin exporting data, you need to define your QuickBooks settings, which involves mapping PMS accounts to the corresponding accounts in QuickBooks.

To define QuickBooks settings:

1. Click the Configuration icon or select View > Program Configuration from the menu to display the Configuration window.

2. Click QuickBooks IIF Export Accounts in the Payment and Accounting Integration section to display the QuickBooks Settings window.

You will need to map the RezOvation GT revenue, liability, and payment types, and other accounts to the corresponding accounts as set up in your QuickBooks program in order to properly export your financial data to QuickBooks. This simply means that for each account you have in RezOvation GT, you will need to enter the name of the corresponding account in your QuickBooks system so RezOvation GT can correctly match your accounts and export your financial data correctly.

To map accounts or payment types:

1. Highlight a PMS account.

2. Click Edit to display the Map account to QuickBooks window.

3. Type the name of the QuickBooks account that corresponds to the particular account or payment type.

4. Click OK.

To reset the export:

If you have a situation where you need to re-export your QuickBooks accounting information (e.g. if you lost your QuickBooks file, or exported the wrong dates by mistake), then you can reset the export.  Please use this feature with caution as it can cause duplicated data.  For example, if you already exported June and reset the export to June 1 - then you will duplicate any records already imported into QuickBooks for June.

 Important notes

• If you have mapped accounts in RezOvation GT that do not exist in QuickBooks, these accounts will be created by QuickBooks when you perform your first import.
  
• The "When Final Payment is Received" revenue option is NOT supported with the QuickBooks export.
  
• You should not export the same date range twice as this can cause data to be duplicated in QuickBooks.

Understanding how data is exported to QuickBooks

Before you export your data for the first time, it's important to understand how the data is exported to QuickBooks.  Below are some important things to know.

•  The IIF export uses journal entries to import data.
   

• Data is exported on the aggregate invoice level, by account, depending on what revenue recognition method you use.  For example, if you use the "each night" revenue recognition option, and you have a reservation that is 3 nights, then on each night of the reservation the export will show total revenue per night, by account (i.e. room revenue vs extra revenue).
   

• Every transaction that is exported includes a balancing or "split" transaction.  For example, whenever there is a payment, this payment is balanced either against your Advance Deposit liability account (if the payment is taken before the arrival date of the reservation), or against Accounts Receivable (if the payment is taken during or after the arrival date).
   

• Accounts Receivable (A/R) is used to balance revenue items and used advance deposits.  What that means is that whenever you have a revenue item such as "room revenue", a corresponding A/R record is created via journal entries (this record will INCREASE your A/R).  Similarly, whenever you have an advance payment on a reservation (advance deposit) that is used, a corresponding A/R record is created (this record will DECREASE your A/R).
   

• The guest name for any revenue or receivables transactions is exported as “Guest Tracker User”.  This is done so that the import does not create customer records that are otherwise not used.
   

• Voids and authorizations (pre-auths) are not exported.