SiteLink and QuickBooks

zacteam

Does anyone have experience with SiteLink feeding into QuickBooks?  If so, do you have it set up for daily or monthly? And how do you like it?
Or alternatively, if any of you use Quickbooks and you don't use the SiteLink export system, how do you manually post the SiteLink financial information?  Thank you for your input.

i43storage

I use Quickbooks and do not import the information from Sitelink.  I manually enter my deposits using information from the daily close sheet.  

JulieAton

I recently shared my manual entry procedures on another thread. 

zacteam

JulieAton, Do you remember the Topic Name where you shared your manual entry procedures?  I've searched, but cant's find it.  Thanks

zacteam

i43storage, Thank you.  I want to enter the deposits so they match up with the bank statement.  I want more detail than combining the cash/checks, ACH, and credit cards.  That's the easier part.  Breaking each of those deposits into the income disbursement accounts so they can be posted separately is the time consuming part.  Thanks again for your comment. Kristy

JulieAton

.  I have a good system that works for me. I only do Daily Close when I make a bank deposit.  Usually 3 or 4 times a month.  In QB I  enter the amounts from the Daily Deposit Report.  EX: Rent & any of the other categories you enter as rent minus total of ACH-Debit-Charge.  I then enter the other categories-Late Fees, Insurance, Merchandise.  This amount should match the Bank Deposit amount listed as the 1st subtotal in 2nd column.   I keep a daily ledger from the Daily Payments Report of ACH and Card payments.  I confirm this amount to the daily emails from my processing company. Then enter in QB.
I like manually entering the figures because it gives me chance to actually see all the figures instead of importing them!  Gives me a better feel for what is going on.

i43storage

zacteam said:

i43storage, Thank you.  I want to enter the deposits so they match up with the bank statement.  I want more detail than combining the cash/checks, ACH, and credit cards.  That's the easier part.  Breaking each of those deposits into the income disbursement accounts so they can be posted separately is the time consuming part.  Thanks again for your comment. Kristy

Like @JulieAton , I only do a daily close about 3-4 times a month and break down the income at that time.  Since I receive credit card deposits more frequently throughout the month automatically, I list all credit card payments as rental income.  I use the few cash/check deposits to separate the income details.  It doesn't take much time as I'm only doing it a few times a month.  I don't concern myself if a late fee was paid with a credit card deposit or a cash/check deposit.  That detail doesn'tI am a one-man operation, so I know exactly where my money is coming from and how it is being accounted for.  In the end, all of my deposits match perfectly with my bank statement.  Hope that helps.