Lesson 18: Download to Quickbooks (optional)

This article gives you an overview of the download to Quickbooks.

All transactions are downloaded to Quickbooks by creating journal entries.  For our standard configuration, specific user balances or owner balances are not kept in Quickbooks.  The level of detail for the transactions may vary based upon the type of transaction. 

Note: Minimum supported versions for the download are Quick Books Online Plus and Quick Books Pro Desktop.

The download of the following user transactions creates journal entries in Quickbooks with an offsetting AR line.  The AR line lists a generic Schedule Master customer rather than each specific user.

1. User transactions for rent/receipts - These types of transactions are summarized by GL account (e.g. Rental Income) and by aircraft.  A class is specified for the line-item that is associated with the aircraft. 
2. User transactions for non-aircraft related invoices and credits - These types of transactions are summarized by GL account (e.g. dues). 
3. User bank transactions (i.e. payments and receipts) - These transactions are listed on an individual basis with the memo naming the user and any reference number. 

The following screen print shows an example journal entry for rental income.  Though this is a screen print from Quick Books for the desktop, the entry made in Quick Books online would be similar.

The download of the following owner transactions creates journal entries in Quickbooks. If your owners are set up as customers, then the transactions are offset with an AR line.  If your owners are set up as vendors, then the transactions are offset with an AP line.  The AR or AP line lists a generic Schedule Master owner rather than each specific owner. 

1. Owner transactions for rent/receipts - These types of transactions are summarized by GL account (e.g. Rental Income) and by aircraft.  A class is specified for the line-item that is associated with the aircraft. 
2. Owner bank transactions (i.e. payments and receipts) - These transactions are listed on an individual basis with the memo naming the owner and any reference number. 

The accounts used for each type of transaction is configurable and can be seen in the statement screens as well as in the Transaction Search screen.  Let us know if any of the accounts need to be changed.  Some of these accounts can be changed in the screens (e.g. the accounts associated with various items), and others must be set in the database (e.g. the accounts used for payments and receipts).  Rent and receipts can be set up with either the same account for user and owner transactions or separate accounts, depending on whether or not you want the totals to cancel.

For detailed instructions on executing the download, see the following article: http://support.timesync.com/entries/20523818-Quickbooks-download-process-optional-