Rydoo and QuickBooks have a seamless integration that allows for the importing and exporting of various data. This integration ensures that all your business expenses and financial transactions are accurately recorded in QuickBooks.
This document provides all the steps necessary to set up the connection between Rydoo and QuickBooks, including how to choose the correct connection settings and export data from Rydoo to QuickBooks.
Setting up the connection
Step 1: To get started, navigate to the Admin section in your navigation bar. From there, select Integrations and choose 'QuickBooks'. Finally, click on the blue 'Connect' button to complete the integration process.
Step 2: Please enter your QuickBooks login information and click on 'Connect’ to proceed.
Step 3:To proceed, select the branch from Rydoo (your company) that you wish to link with QuickBooks.
At Rydoo, you have the ability to create various corporate entities in your account by creating "Branches." These branches are separate entities with their own VAT numbers and, as a result, produce independent accounting reports. This allows them to operate independently within the context of Rydoo.
As it is also possible to connect with your accounting partner on a branch level, you can export to different QuickBooks accounts or to the same account.
There are two different ways to establish a connection:
1. The 'Back to the overview' button enables you to link branches to a different QuickBooks account.
Note: It's important to click on Back to the Overview when connecting to another QuickBooks account, to prevent the cross-syncing of categories, taxes, and custom fields.
2. To link different branches to the same QuickBooks account, use the 'Add new setting' option.
To maintain a clear understanding of the connections, you can rename the 'default setting' to 'Branch Name' by clicking on the edit button:
At Rydoo, you have the capability to import your QuickBooks Classes, Product Services, and/or Customers to be used in Rydoo for the purpose of assigning expenses. Please refer to the "What We Import/Export" section for further information.
Step 4: To complete the process, select your preferred export settings, then hit the 'Save' and 'Synchronize' buttons. Refer to the "How Expenses are Exported Towards QuickBooks" section to determine which export settings to choose.
If the synchronization between both accounts was successful, you will see the following:
If the synchronization between both accounts was unsuccessful, you will see the following:
In this case, if you have selected any of the import options, make sure that you have also created them in QuickBooks. If not, the synchronization will fail.
What we import/export to QuickBooks
In Rydoo: Chart of Accounts (Category)
Chart of Accounts (Categories)The chart of accounts is automatically imported and will be visible under the 'Categories' section in Rydoo.
It is important to disable categories that you do not want to use rather than deleting them. If you delete them, they will reappear when you synchronize.
In QuickBooks: Chart of Accounts
To access your Chart of Accounts in QuickBooks, simply navigate to Settings > Your Company > Chart of Accounts.
We import categories of two types: 'Expenses' and 'Cost of Sales'.
NOTE: The following types will NOT be imported: 'Income', 'other income', "owner's equity", 'non-current liabilities', 'current liabilities', 'current assets', 'non-current assets', 'fixed assets', and 'cash and cash equivalents'.
IMPORTANT: If any categories were not imported, kindly verify the Account type in QuickBooks.
In Rydoo: Customers (Custom Fields)
The Customers can be referred to as clients, customers, or any preferred term. They will be listed under 'Custom Fields' in Rydoo and will also be accessible through the Mobile Application.
In QuickBooks: Customers & Leads
The customers in QuickBooks, are added via Customers & Leads.
Note: If a customer is not imported, please ensure that the customer is active.
In Rydoo: Products & Services (Projects)
The ‘Products & Services’ feature in QuickBooks allows you to include additional details when billing your clients. These details will appear in the 'Project' tab of Rydoo and will also be accessible in the mobile application.
In QuickBooks: Product & Services
To add 'Products & Services' in QuickBooks, navigate to the general settings, then select 'Products and Services'..
Note: Please ensure that the 'sales information: I sell this product/service to my customers' option has been checked. If not, the export may fail.
In Rydoo: Classes (Custom Fields)
Classes (Custom Fields) can be compared to a secondary chart of accounts, which enables you to categorize transactions that are separate from your chart of accounts.
As an example, you can use it to keep track of programs, locations, and so on...
In QuickBooks: Classes
To add classes, simply navigate to "Settings" and select "LISTS," then choose "All List.”
You will be directed to the screen where you select CLASSES.
When adding an expense, users can select from a drop-down menu that features the Chart of Accounts (categories), Customers, Classes, and Products & Services.
In Rydoo: Vat Rates
We import all the tax rates you've set up in QuickBooks. Please disable any VAT rates that cannot be used for expenses. This will ensure that only the relevant tax rates are available for expenses, which will help streamline your accounting processes.
To disable a tax, navigate to Admin > Tax and select the tax you wish to disable. Toggle the switch to the left to disable the tax.
In QuickBooks: Vat Rates
When adding any additional custom VAT rate in QuickBooks, be sure to select the following option:
Rydoo offers you the flexibility to choose between adding a personal or a company card as your preferred payment method. Adding your preferred payment method is easy and can be done in just a few simple steps.
Step 1: Go to the Admin section of your Rydoo account and choose Payment Method. Once you've selected Payment Method, click Add Payment Method.
Step 2: Fill in all the fields in Payment Method.
For reimbursable payment method. It's important to choose the appropriate payment method type field. If you're using cash and need to connect your bank account from QuickBooks to Rydoo, please select either Transfer or Cheque. In the Name field, simply enter ‘Cash’ and the Card Ownership is personal. This will enable you to select the appropriate bank account imported from QuickBooks.
For Non-reimbursable expenses are those made with company-owned credit cards. Please make sure to link each payment method you add to a bank account that have imported from QuickBooks.
Step 3.Once you have filled in all of the required fields, simply click the "Save" button to complete the process.
To create bank accounts in QuickBooks, simply access the chart of accounts.
How Expenses are exported towards QuickBooks?
You can export both expenses and invoices as either 'Expenses' or 'Bills':
To export your personal or reimbursable expenses to QuickBooks, please follow these steps:
Create a supplier invoice with the Rydoo user as a supplier:
This indicates that the expenses that are eligible for reimbursement are exported as a supplier invoice, with the Rydoo user identified as the supplier. This results in the creation of a liability account that requires settlement to the user for the reimbursement of the expenses.
The merchant will be displayed in the 'description' field, and the receipt image will appear as an attachment.
Exported as ‘Expenses’
Exported as ‘Bills’
Note: We will create a supplier for the Rydoo user in QuickBooks Online, if one does not already exist, and categorize all personal reimbursable expenses under that supplier.
Create an expense with the merchant:
Reimbursable expenses will be exported with the merchant of the receipt.
Exported as ‘Expenses'
Exported as ‘Bills’
All company expenses can be exported as follows towards QuickBooks
Create a supplier of the merchant on the receipt:
Expenses made with a company card linked to a bank account will be exported to "transactions" in QuickBooks Online as a bill or expense. Furthermore, the merchant listed on the receipt will be used as the supplier in QuickBooks Online.
Exported as ‘Expenses'
Credit Card Account History
Exported as ‘Bills’