How your Coreloops data is synced with Quickbooks
Managing your Contacts
You can manage all of your contacts in the directory tab. To import your existing contacts head over to your Quickbooks integration settings. Set the direction to Quickbooks from Coreloops, then click Save and Sync settings. This will pull in all of your up-to-date contacts in Quickbooks.
Suppliers: This is a contact associated with one of your suppliers. In most cases, this will just be the supplier's name and may not contain further contact details like email address, phone number etc. Quickbooks defines a supplier as any contact or company that you've received a bill from in the past.
Customers: This is a contact associated with one of your customers. Similar to a supplier this might just be the company that you invoice for your services.
Contacts: This is a contact that has no association with a customer or a supplier.
All imported contacts will be added to the contacts tab and then either suppliers or clients based on their association in Quickbooks. Contacts that have details such as email addresses, phone numbers, Tax rates etc will be pulled into their contact profiles. You can edit these details by clicking edit from the action menu beside their name. Any changes to the contact details will be synced back to Quickbooks. You can choose to turn off syncing for specific contacts, customers or suppliers by checking the "Don't sync to Quickbooks" option on their edit details page.
Linking cost codes to Chart of Accounts in Quickbooks
One of our most loved features on Coreloops is the ability to connect your project cost codes e.g. E005 - electrical containment or SUB002 - Drylining to the relevant chart of accounts (nominal codes) e.g. "Cost of Sales" in Quickbooks. This enables you to allocate your purchases and costs to detailed cost codes in Coreloops and have them automatically synced to Quickbooks with the right chart of accounts and tax details pre-filled. This will save your admin team hours in double data entry into Quickbooks and then again into project cost reports.
You can link your cost codes to accounts in Quickbooks in project settings.
Connect Cost Codes to Chart of Accounts
When syncing your purchases to Coreloops, you can configure which Quickbooks accounts they are synced to by connecting your cost codes.
Head over to Quickbooks settings then click on the Cost Settings Tab
Click on the Quickbooks Code box for each cost code
Select which chart of accounts each cost code should be synced to. By syncing a cost code to a chart of accounts each document (or part of it) assigned to this cost code will be sent into Quickbooks and categorised to the respective account.
Syncing Purchases to Quickbooks
To sync your purchase to Quickbooks simply review and approve your uploaded purchases. Allocate the purchase to a project and cost code before approval. Check all of the details are correct. Once approved the purchase will be sent to Quickbooks as an unpaid bill. All of the relevant fields will be filled in with the information approved in Coreloops.
Coreloops Field | Quickbooks Bill Field |
Document Type |
|
Project |
|
Cost Code | Linked chart of accounts |
Invoice Number | Reference |
Purchase Order Number |
|
Company (Supplier) | From |
Cost Title | - |
Currency | Currency ( if multi-currency is enabled) |
Issue Date | Date |
Due Date | Due Date |
Subtotal | Subtotal |
Tax Exclusive or Inclusive | Amounts are |
VAT | VAT |
Discount | Discount |
Retention | not sent |
CIS Amount | Sent as a line item deduction |
Total | TOTAL |
Total Paid | Less Payment |
Net Amount Due | Amount Due |
Line items - individual line items are only sent when you split costs |
|
- | Item |
Item Description | Description |
Quantity | Quantity |
Unit Price | Unit price |
Cost code | Account (linked accounts) |
VAT Rate | Tax Rate |
Amount | Amount |
CIS Type | Not sent |
CIS rate | Not sent |
CIS Amount | Sent as a line item deduction |