Document Creation in QuickBooks
Acodei bridges your Stripe account and QuickBooks, automatically generating relevant documents whenever transactions occur. This includes sales, refunds, payouts, fees, and more. You can choose between two data synchronization methods: Real-Time Sync and Daily Summary. You can also select Undeposited Funds or another account as your Stripe Holding Account, which impacts how Acodei generates documents.
Real-Time Sync
This option provides immediate updates within QuickBooks, reflecting every Stripe transaction as it happens. Below you can see a comparative table of what you can expect if you use Undeposited Funds as the holding account or another account as the holding account. This is with real-time sync and with the Invoice Sync feature disabled.
| Undeposited Funds Holding Account | Non-Undeposited Funds Holding Account | |
|---|---|---|
| Sales | Each sale triggers a sales receipt in QuickBooks. | Each sale triggers a sales receipt in QuickBooks. |
| Refunds | Every refund generates a corresponding refund receipt. | Every refund generates a corresponding refund receipt. |
| Payouts | When an automatic Stripe payout occurs, Acodei automatically creates a bank deposit that includes relevant sales and refund receipts. | Acodei generates a transfer from your Stripe holding account to your designated checking account. |
| Fees | You can track fees as line items on sales receipts or within the bank deposit. | You can track the fee as a line item on a sales receipt or in a separate expense. |
| Customers | New customers are added to QuickBooks if an exact match isn't already found. | New customers are added to QuickBooks if an exact match isn't already found. |
| Additional Transactions | Uncommon transactions or balance adjustments are recorded as line items within the bank deposit. | Uncommon transactions or balance adjustments are recorded as line items within the bank deposit. |
Note
The default settings of Acodei use Undeposited Funds as your Stripe holding account, update your QuickBooks in real-time, and have the Invoice Sync feature disabled.
Invoice Sync Enabled
Whether you keep your Stripe funds in Undeposited Funds or another account, here's how things work when you have Acodei's Invoice Sync turned on and data updates in real-time:
| Invoice Sync Enabled | |
|---|---|
| Sales | Sales receipts will not be generated. On Stripe, a user could have invoice-based payments and a direct charge that is not tied to an invoice. If no invoice is found in Stripe, we will still generate a sales receipt. |
| Invoices | A QuickBooks invoice will be generated if you create a Stripe invoice. |
| Payment Receipts | A payment receipt will be created upon payment of that invoice. If the user has selected Undeposited Funds, payment receipts will be selected on the bank deposit in lieu of sales receipts. If you select Non_Undeposited Funds , we will create a transfer that does not select documents. |
Fee Tracking
In this scenario, the preferred option for fee tracking is including them as a line item in expense. If you select Undeposited Funds, bank deposit is optimal. On the other hand, if you select Non-Undeposited Funds, expense is optimal.
Daily Summary
This method provides daily updates instead of real-time. Below you can see a comparative table of what you can expect if you use Undeposited Funds as the holding account or another account as the holding account.
| Undeposited Funds Holding Account | Non-Undeposited Funds Holding Account | |
|---|---|---|
| Daily Summaries | Acodei creates a sales receipt or refund receipt based on the payout daily data contained within the payout. These summaries could be positive or negative, depending on the day. | Acodei creates a sales or refund receipt that matches your Stripe balance report for that day, encompassing all transactions |
| Payouts | A bank deposit is created, automatically selecting relevant daily summary receipts. | A transfer is created from the Stripe holding account to the checking account |
| Customer Data | Customer data isn't tracked | Customer data isn't tracked |
| Invoice Sync | Invoice Sync is unavailable | Invoice Sync is unavailable |
Choosing the Right Option
The ideal setup depends on your individual needs and preferences. Consider your transaction volume, how quickly you need updates, whether you use Stripe invoicing, and how you prefer to track fees. Don't hesitate to explore the Account Mapping module within Acodei Dashboard to customize your settings and achieve optimal document creation for your QuickBooks Online account.
On high-volume accounts, we always recommend Undeposited Funds as holding accounts and daily summaries because if you do real-time, it clogs their Quickbooks with too many documents.
It's also good to note that multiple product mapping works with all setups here, which is important to users.
Updated 5 months ago