Accounting Package Setup > QBO Setup

Wise-Sync maps to "Account" numbers, which requires a setting to be enabled if not already.

1. Click on Settings icon from the top navigation panel
2. Select Account and settings from the list
3. Select Advanced tab
4. Select Chart of Accounts
5. If Account Numbers is set to off, click on the Edit Icon
6. Check the box to enable Account Numbers
7. Click Done

Adding Account numbers to your chart of accounts will not affect the functions of reporting, it can in some circumstance help in the financial entry of transactions, by allowing users to type the account code, rather than the text (both will work).

Common Account Number Ranges

In principal ranges can be defined for any purpose, it is however recommended that the accounts are ranged to help in the grouping and reporting. The following represents a common table of accounting number ranges. The ordinal ranges can be arranged with or without the dash, in hundreds (100) or thousands (1000), it is really up to you and your accountant to work out the best CoA that fits the needs of the business.

Here's how to do it:

1. Go to Settings ⚙, then select Chart of accounts.
2. Select ✎ Batch edit above the Action column.
3. In the Number column, add account numbers.
4. Once you’re done, select Save.
5. To see your accounts’ numbers, go to the Chart of accounts. Select Settings ⚙ above the Action column. Make sure Number is checked.

Setup Payment Terms Mapping

Payment terms are mapped by the Terms XRef in ConnectWise. The terms must match between both systems so that terms are applied correctly.

Here's how to do it:

1. Click on the Settings menu item from the top navigation bar.
2. Click on All Lists
3. Select Terms
4. Create Matching Terms in QuickBooks Online. Note: Each of the terms listed in ConnectWise Billing Terms setup table will require a matching Term in QuickBooks Online.
5. Create a new Term in QuickBooks Online by clicking on the New Button.
6. Enter the Name as per the ConnectWise Billing Term Name
7. Select the option for Terms:

   Due in a Fixed Number of Days: Set the days as per the ConnnectWise Days

   Due by certain day of the month: 

   Set the day of the month payment is due.

   Set the same for days of due date

   Select if discounts are offered if paid early.

8. Save

QuickBooks Online Setup

• Enabled Account Numbers for your Chart of Accounts.
• Added numbers to all of your Chart of Accounts.
• Setup at least one Tax Group in QuickBooks Online
• Setup Matching Payment Terms between ConnectWise and QuickBooks Online.

Once you have the above checked off, you are now ready to start the ConnectWise Setup Steps.

Coming Soon...

QuickBooks Online only supports two different tax structures

• Single: Where a single rate is applied to the invoice and payable to a single tax agency
• Combined: Where a (combined) set of tax rates payable to different agencies is set for each invoice.

Wise-Sync will map ConnectWise tax based on the selection made in the Tax Code setup in Wise-Sync. The recommended setting to ensure taxes are applied for each invoice should be set to "Tax Group", as this will match the ConnectWise Tax Code Name on the Invoice to the Tax Rate Name in QuickBooks Online.

Step 1: Sales Tax Setup

Here's how to do it:

1. Click on the Taxes menu
2. Click on Sales Tax

   Note: Check to ensure that Sales Tax will be correctly calculated on your Customer Invoices. If Sales Tax has not been enabled, this step will need to be completed first.

3. Confirm that the sales tax setting is "Yes"
4. Set the Default Sales Tax to the most common tax code for your customers purchases.
5. [Optional] Set the options for:

   -Mark all new customers taxable -Mark all new products and service taxable.

6. Press Save

Step 2: Create a Single Tax Rate

1. Click New to create a New Single Tax Rate

    Note: If you already have Tax Rates setup in QBO, then you only need to check the names match between the systems.

2. Determine whether you require a Single Rate, or Combined Rate.
3. Determine whether you require a Single Rate, or Combined Rate.

   Single: If you only need to pay a single Agency. Combined: If you need to pay multiple Agencies.

4. Set the Tax Rate and Match against ConnectWise Tax Code
5. Refer to the ConnectWise Tax Code for the same Tax Rate details
6. Press Save

Step 3: Create a Combined Tax Rate

Combined tax rates provide you with the ability to calculate tax according to each agency payment requirement. In some cases this may include taxes payable to different agency.

1. Create (or Edit) a Tax Rate.
2. Click New to create a New (Combined) Tax Rate

   Note: If you already have Tax Rates setup in QBO, then you only need to check the names match between the systems.

3. Determine whether you require a Single Rate, or Combined Rate.

   Single: If you only need to pay a single Agency. Combined: If you need to pay multiple Agencies.

4. Select Combined
5. Set the Tax Rate and Match against ConnectWise Tax Code
6. Refer to the ConnectWise Tax Code for the same Tax Rate

Account numbers are the preferred option, they provide for the most control and validation is also managed by QBO. Account numbers must be unique in QBO, as validation error will display in QBO if you try to save an account number that already exists. this applies also to sub-accounts, which must be numbered.

The most common issue encountered is where sub-accounts are entered, however, the parent accounts are not. Where numbers are used all accounts must be numbered:

Incorrect: Only Sub-Accounts are Numbered Correctly:

Correct: Parent & Sub Accounts Numbered Correctly:

A)  ACCOUNT NUMBERS (PREFERRED)

Allows for the use of account numbers, and supports full sub-account path.

B)  ACCOUNT NUMBERS (SUB ACCOUNTS)  

Note: GL Entries must specify the full path to the sub-account. I.e 4001:4002 If the Sub Account 4002 was specified.

The account description can be used in place of Numbers, where a description is provided, this is then matched against the Account in the GL Entry.

A) Account Names (in Description)

Account names can be used without the sub account requirement, providing that the account name is also inputted into the account description field.

Description matches GL Entry:

Matches:

B) Extended Account Numbers (In Description)

Extended Account numbers can be entered into the description field, such as those mapped for SLI codes n Xero

QBO - Setup GL Entries using the Account Description 

Wise-Sync supports extended account numbering based on the description of the account in QBO. Where an account is a Sub Account, the GL Entry only needs to provide the unique value as provided in the Description:

Will not Work:

Only PR1.4-1100 needs to be specified to match the account above.

What does not work.

C) Account Names

1. Account names where the name is not entered into the description.

   

2. Sub Accounts in full path in GL Entry, where Description method is used.