RezOvation GT can link to QuickBooks in order to synchronize your financial data.
Currently, there are two methods available for linking to QuickBooks: IIF export / import, and Automatic synch. If none of these methods 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 a third option: Manual entry.
Which method is right for you?
Each method has its unique differences, and it is important to decide which method to use early on. Switching from one method to the other can cause serious problems with your QuickBooks data and is not recommended. If you ever need to switch options you should do so at the beginning of the year, after you have already reconciled for the year and backed up your QuickBooks data.
Here's how the methods break down.
| IIF export / import integration | Automatic synch | Manual entry | |
| Customers | Contact info NOT transferred. | Contact info transferred. | NA |
| Invoices | Not imported. Invoice totals are recorded as journal entries, broken down by income / tax account. | Imported with itemized rooms, extras, and taxes. | NA |
| Payments | Recorded as journal entries. | Imported as payments. QBMS auth info visible in QuickBooks. | NA |
| Scheduling | Manual. | Manual or automated. | NA |
| Accounting method supported | Accrual (each night, departure date) | 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.
As of March 2010, the automatic integration is in beta testing. If you wish to participate in the beta, please contact us.
IIF export is probably a better option for you if you:
prefer to work with journal entries
do not want to work with the invoice paradigm in QuickBooks
do not want customer data to be transferred to QuickBooks
have setup QuickBooks is a unique way
prefer to have more control over how data is entered in QuickBooks.
Automatic synch may be a better option for you if you:
have minimal accounting experience
do not want to work directly with journal entries
want to track customer balances within QuickBooks
prefer automation over manual control.
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. These apply to both the IIF export and automatic synch.
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.
Automatic synch best practices. These apply only when using the automatic synch.
Never delete data in QuickBooks that was provided by RezOvation GT, as this will break the automatic synch.