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Sync Transactions with QuickBooks® Desktop

Note: QuickBooks Desktop Sync is only available with selected plans.

Note: the sync feature only works with QuickBooks Desktop and does not work with QuickBooks Online. Please contact your customer success manager if you are interested in connecting your PEX account with QuickBooks Online.

This feature currently supports syncing with the U.S. editions of QuickBooks Financial: QuickBooks Enterprise Solutions (2015 or later), QuickBooks Premier (2015 or later), and QuickBooks Pro (2015 or later).

QuickBooks Desktop Sync has three main steps:

  1. Configuring the connection (in most cases this is a one time setup)
  2. Setting up the Web Connector
  3. Syncing the transactions

1. Configuring the connection

Choosing a Bank Account

In QuickBooks Desktop, the chart of accounts are defined in company file. You need to have a bank account against which all PEX transactions will be recorded.

User shall input that bank account manually in the given field. The name entered in PEX configuration should match exactly with the bank account name they have created in QuickBooks Desktop.

Mapping Your PEX Tags (optional)

Customers on the Pro or Infinite Plans have the option to manage transactions using the PEX Tag manager.

You can map up to two tags from PEX to QuickBooks Desktop.

  • Expense Account: This is the main classification tag for an expense. You can choose a PEX tag from the drop down list to map to Expense Account tag. The value of this tag will be used to populate the Expense Account field in QuickBooks Desktop.

    The Default Expense Account is the default value used to populate the Expense Account in QuickBooks Desktop, in the case that no PEX tag was assigned to the transaction.
  • Expense Class: This is the secondary classification. You can select a PEX tag to map to Expense Class in QuickBooks Desktop. 

In case your organization is not using the PEX tag manager, you will only have the option to choose a default Expense Account. No drop down list will be provided in that case.

Setting a Date Range (optional)

The default option is to sync “All available transactions”. This includes all the transactions from the date you last synced till present date. If you are running sync for the first time, this option will sync all transactions in last 12 months.

To test connectivity or to only sync a limited number of transactions, you should choose the second option to sync “All transactions in a date range”. If you choose "All transactions in a date range", you must specify a Start date. Choosing an End date is optional. If an End date is not specified, the current date is considered to be the End date.

Note that date of transaction settlement is used when evaluating the Start and End dates. All transactions settled between the Start date and End date will be synced.

If you are using the "auto run" setting for WebConnector (see step 2 below), do not specify an End date.

Transaction Approval Status

You can also choose to only sync transactions based on their review approval status. The options are to sync all transactions regardless of status, only approved transactions, or both approved and ignored transactions. The last option, approved and ignored, will not sync any transactions that were rejected.

2. Web Connector Setup (one time set up only)

We integrate with QuickBooks Desktop via the Intuit Web Connector. You need to have the Web Connector application installed to use this feature. It is usually installed with QuickBooks Desktop.

You can also download the QuickBooks Web Connector if you don't already have it.

  1. Open the Intuit Web Connector
  2. If prompted, grant the Web Connector permission to access QuickBooks
  3. Click on “Add an Application” and select the Web Connector file downloaded in the previous step.
  4. Click OK
  5. Select the last option “Yes always: allow access even if QuickBooks is not running”
  6. Click “Continue”
  7. Input your PEX admin password in password column
  8. If you want to perform a one-time sync, uncheck the "Auto-run" check box
  9. Select the check box on the left most column and click the “update selected” button

3. Transaction Sync

You can choose to run the transaction sync once (manual sync) or set it to auto-run every selected number of minutes. 

Auto-Run Sync

  1. Check “Auto-Run” check box
  2. Set time interval in “Every_Min” column.

Transactions will be synced automatically after every X min as you specified.

Manual Sync

  1. Uncheck the “Auto-Run” check box
  2. Each time you would like to sync transactions, click the “Update Selected” button

Things to Keep in mind

  1. QuickBooks Desktop Sync does not allow one to use the transaction review in the QuickBooks Bank Feed. It will post transactions directly to the company file. If you wish to review transactions prior to posting into QuickBooks, use the PEX transaction review process and configure the sync to only post approved transactions.
  2. For the first time sync, it is always advisable to use the date range option. Make sure all transactions appear as expected prior to selecting "All available transactions".
  3. Once the Sync process has started, it can not be stopped or cancelled.
  4. The process will sync all transactions that affects the customer’s PEX account balance, including:
    • All PEX card transactions (network transactions)
    • All fees (e.g. monthly account maintenance fee, any shipping fees, ISA fees, etc.)
    • All ACH debits and credits
    • Wire transfers
    • Merchant credits

 

 

* Screenshots of the QuickBooks Web Connector are reprinted with permission © Intuit Inc. All rights reserved.