RezOvation GT can link to QuickBooks in order to synchronize your financial data.
Currently, there is one method available for linking to QuickBooks: IIF export / import. If this method will work for you (e.g. because you run a cash business, or you need to provide your information to an accountant who cannot use either of the link options), then there is another option: Manual entry.
Which method is right for you?
Here's how the methods break down.
| IIF export / import integration | Manual entry | |
| Customers | Contact info NOT transferred. | NA |
| Invoices | Not imported. Invoice totals are recorded as journal entries, broken down by income / tax account. | NA |
| Payments | Recorded as journal entries. | NA |
| Scheduling | Manual. | NA |
| Accounting method supported | Accrual (each night, departure date) | Cash, accrual |
Some important things to note:
If you account for your business using the "cash" method, you cannot use the QuickBooks synch, and instead must manually enter data in QuickBooks from reports generated in RezOvation GT.
Best practices for using the QuickBooks link
The link from RezOvation GT to QuickBooks will save you time and double entry. However, it is possible to cause data problems if you don't follow a few best practices. In order to avoid any frustration and wasted time please be sure to follow each of the below best practices.
General best practices.
Before exporting for the first time, double check that account names entered in the mapping configuration match EXACTLY in QuickBooks. If they don't match, your data will not be exported properly, and duplicate accounts will be created in QuickBooks.
Don’t edit account names in RezOvation GT or QuickBooks once you have mapped them. Both the IIF export and automatic integration use the account name to match up accounts; if this changes the integration will break. If you MUST make a change do it in both places at the same time.
Do not delete accounts from RezOvation GT or QuickBooks which have been used in the past. This can break the integration.
In general it is best NOT to delete any data either from RezOvation GT or QuickBooks, but instead use balancing entries to correct errors.
Make frequent backups of your QuickBooks data file. QuickBooks has an automatic backup feature - check your QuickBooks help documents for more information.
IIF export best practices. These apply only when using the IIF export / import.
Whenever editing a reservation or invoice that has already been exported to QuickBooks you should always add balancing transactions, rather than editing existing transactions. e.g. if you need to correct a payment mistake, you should add a refund to correct the mistake, then add another payment. This will ensure that your transactions are properly exported to QuickBooks. If you were just to delete the payment, for example, or edit the payment amount, then this information would not be updated to QuickBooks if the reservation has been exported already.
Use the 'each night' revenue recognition method (set under Configuration > Revenue Accounts). This will make the data link more consistent and easier to use.
Never export the same date range twice from RezOvation GT. Doing so can create duplicate records in QuickBooks.
Never import the same date range twice into QuickBooks. Doing so can create duplicate records in QuickBooks.
Always export for consecutive dates. For example, don't export June, then skip to August, and then go back and export July. Instead, export June, then July, then August.
Export on a weekly or monthly basis. Exporting daily is time consuming and can lead to errors (e.g. if you need to correct a reservation right after it was made).
Keep copies of previously imported IIF files for at least 6 months. This is useful if for some reason you need to re-import data.
If you delete data out of QuickBooks which was sent by RezOvation GT, also delete the data in RezOvation GT in order to keep both systems in synch.