Materio can automatically sync all project retainers, deposits, invoices, credits, payments, and payment processing fees into QuickBooks Online, ensuring your books are always accurate and up-to-date.
How Invoice Syncing Works
After you connect to QuickBooks Online, every time you send, receive payment on, or delete a retainer, deposit, invoice, or credit in Materio, Materio will automatically take the equivalent action in QuickBooks for you. The sync will include following information for each invoice:
Client
Project
Document number
Document transaction date
Line items
Item description
Unit price
Quantity
Subtotal
Taxed / Nontaxed classification
Subtotal
Tax total
Grand total
Memo to client (up to 1,000 characters)
Retainers applied as payment
Deposits applied as payment
Credits applied as payment
Payments received
Payment date
Payment amount
Payment reference number (up to 21 characters)
Payment private memo (up to 4,000 characters)
Payment processing fees (both client covered & firm covered)
FAQ
How are retainer, deposit, and credit balances kept up to date?
Retainer, deposit, and credit balances are all included in the sync. The original funds sync to QuickBooks as credit memos. Every time money is spent from those funds Materio creates a new QuickBooks payment that draws from the appropriate credit memo in QuickBooks. This automatically keeps the client's retainer, deposit, and credit balances in sync between Materio and QuickBooks.
How are payment processing fees handled?
Materio automatically syncs both client-covered and firm-covered payment processing fees into QuickBooks as journal entries attached to payments. For client-covered fees, two journal entries are attached to the payment (one for the additional income from the client, and one for the expense to the firm); these two journal entries net out to zero. For firm-covered fees, a single journal entry is attached to the payment (for the expense to the firm) and the net proceeds from the payment are adjusted down accordingly. To ensure your synced processing fees are properly categorized, go to the QuickBooks integration page, click "Manage settings", fill out the "Transaction fees" section, then click "Update accounts."
Can I accept payments on invoices through QuickBooks?
When using the standard invoice sync feature described in this article, you should always accept payments through Materio, never through QuickBooks. However, for advanced users, Materio does support accepting payments through QuickBooks with a separate feature called QuickBooks-side Invoicing.