Help Center - For Landlord

TenantCloud Support

How do I synchronize my data into Quickbooks?

You can synchronize all TenantCloud account transactions with your QuickBooks account in just a few minutes. In order to begin, you must authorize and connect your QuickBooks online account. To do so, go to the QuickBooks settings section from the “Settings” page of your account:

How do I synchronize my data into Quickbooks?

Please note!
QuickBooks Online sync is available in the Advanced Plan. 

Select the date you want to start synchronizing your transaction (based on transaction due date), if you have been adding those to Quickbooks manually. You can also turn on classes (Properties) and location (the default location TCRentals will be applied). Click "connect to Quickbooks."

You will be redirected to a window where you will connect your QuickBooks account and link the company attached to your QuickBooks account. Once connected, the information will be synced with the selected account. You can use either manual or real-time synchronization. 

Manual
This method is perfect if you want to control the process of synchronization of your transactions into QuickBooks. Press the button and syncing will begin. Synchronization process time can differ due to the volume of data. Once it is finished, you will be notified via the feed notification.

Real-time
This method constantly synchronizes transactions in your QuickBooks account. Every transaction update will be reflected in your QuickBooks account instantly.

This might be helpful:

How to adjust Quickbooks settings to enable updating an invoice or bill?

Please note!
This is a one-way synchronization from TenantCloud into QuickBooks. If you make changes in Quickbooks, they will not be reflected in TenantCloud.

How do I synchronize my data into Quickbooks?

 

When the synchronization is in active status, you can change the configuration or disable QuickBooks synchronization by selecting the appropriate option. You can also change the type of synchronization from manual to real-time and vice versa at any time. 

Below is a list of TenantCloud accounting categories and how they will display in Quickbooks accounting:

 

TenantCloud   Quickbooks

Accounting

- General Property Income →  -Invoice
- General Property Expense →  -Expense
- General Income →  -Invoice
- General Expense →  -Expense
- Liability →  -Credits Memo

Please note! 
If there are no matching categories in QuickBooks, they will be auto-created. Property and unit information is added to the details section. If you track classes, each transaction will have a class that will be named as a Property.

If there are two contacts with the same name in your TC Contacts, they will be created with a # and number suffix, as in the example below:

Mike Walsh
Mike Walsh #1

Once a transaction is synchronized with QuickBooks, the QB icon will appear next to the transaction ID in the transaction details at the bottom. This transaction ID will indicate the same invoice in QuickBooks, so you can easily track it. The numbers following the underscore symbol in the transaction ID (i.e. 219_21) appear when the invoice is already paid and indicate a payer ID.

How do I synchronize my data into Quickbooks?

Please note! 
Attachments are synced automatically.

Please pay attention to how statuses change according to different transactions.

  • The sales section in QuickBooks displays income and liability invoices:

Income: Once an invoice is created and the status is open in TenantCloud, QuickBooks generates an invoice which is in an open status as well. Once the invoice is paid in TenantCloud, QuickBooks changes the open invoice to a paid status and additionally creates a payment with a closed status. 

 

Liability invoices (deposit, credits, prepaid rent, and other liabilities): once a deposit is created and the status is open in TenantCloud, QuickBooks generates a credit memo with an unapplied status. Once the deposit is paid in TenantCloud, QuickBooks changes the credit memo to a closed status and additionally creates an invoice with a paid status and a payment with a closed status.

Expense: once the invoice is created and status is open/paid in TC, QB generates it in Expense section:

Quickbooks integration is also provided with the Location and Classes option, where Class in QuickBooks indicates your Property name (if there are property income/expense-related transactions) and Location, which is TCRentals.

If transactions are general and not related to any of your properties, thenClass will be Unclassified. In the Categories section, put checkmarks next to "Track Classes" and "Track Locations." Then select an option from the drop-down list to assign classes and location label.

How do I synchronize my data into Quickbooks?

How do I synchronize my data into Quickbooks?

 

Last updated:
June 12nd, 2019

Please let us know if you have any other questions.